CRS - Regulation Asia

Regulatory Reporting Pressure in APAC: A 2019 View

In the year ahead, banks will have to focus on seamless data integration and regtech adoption to cope with increasingly complex regulatory reporting requirements, says Wolters Kluwer’s Wouter Delbaere.

January 9, 2019

318

AML / KYC

Hong Kong FIs Share Foreign Tax Resident Data with IRD – Report

Over 1,700 financial institutions have shared customer account balances and income details with the tax authority, as required by AEOI.

September 12, 2018

333

AML / KYC

Tax Law Forces New Zealand Banks to Freeze Accounts

Banks required to find out whether customers are foreign tax residents and report to Inland Revenue; unresponsive customers are having their accounts put on hold.

July 4, 2018

185

AML / KYC

Foreign Tax Status Disclosures Required by New Zealand Banks

Banks required to report customers' foreign tax status by 30 June; customers that do not respond may have their accounts frozen or closed.

June 7, 2018

338

AML / KYC

ACAMS 2018: Rising to the Financial Crime Challenge

Recently in Hong Kong, ACAMS brought financial industry participants to discuss action to combat financial crime. Progress on regulation, advancements in technology and FIs’ willingness to do their part are making all the difference.

May 10, 2018

266

AML / KYC

MAS Fines StanChart Units $4.9mn for AML/CTF Breaches

The bank’s Singapore branch and trust unit failed to adequately assess and mitigate risks that clients were trying to avoid CRS reporting obligations.

March 20, 2018

251

India

India to Ease Capital Markets Norms for Foreign Investors

Government to set up single-window clearance for foreign portfolio investors and allow foreign custodians to trade on behalf of their clients without registering with SEBI.

March 1, 2018