FSC to amend financial services legislation to enhance investor protection by requiring funds to release manager compensation; new rules for easing fund compliance and encouraging crowdfunding also proposed.
March 22, 2018Report says AML/CTF and other supervisory shortfalls limit remittance providers' access to banking services; makes 19 recommendations to address barriers.
March 19, 2018Report discusses strengthening due diligence tools to support correspondent banking relationships and improved monitoring.
March 19, 2018New guidance ensures bank staff are held responsible for conduct and statements outside of formal contracts; removes borrower’s liability in the event of lender misconduct.
March 17, 2018Central bank investigators found that State Bank of India had not complied with rules on detection and impounding of counterfeit notes.
March 8, 2018Statutory inspection revealed gross NPAs higher than Axis Bank’s reported numbers; Indian Overseas Bank also fined for KYC failures.
March 7, 2018The new body will have powers to impose penalties or debar chartered accountants or their firms for up to ten years.
March 5, 2018Large technology investments to improve compliance performance have not yielded desired results almost ten years after the global financial crisis.
March 5, 2018Credit ratings agencies found lacking on compliance testing and board reporting.
February 18, 2018MAS executive director also speaks about variable capital structure framework for investment funds slated for implementation in 2018.
February 15, 2018