All posts tagged "Due diligence"
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464FeatureSFC Extends Compliance Deadline for New Rules on Complex Products
The SFC has extended the deadline for compliance with new rules requiring firms to ensure client suitability when selling complex products by two months.
March 20, 2019 -
611EnforcementSFC Fines UBS and Others HK$787mn for IPO Sponsor Failures
“The sanctions send a strong and clear message to the market that we will not hesitate to hold errant sponsors accountable for their misconduct,” said SFC chief Ashley Alder.
March 15, 2019 -
2.0KFintech / RegtechMAS Proposes New Requirements for Banks’ Outsourced Functions
The proposals will expand MAS' powers to impose requirements on banks' and merchant banks' outsourcing arrangements, regardless of where outsourced functions are performed.
February 8, 2019 -
761AML / KYCComplying with AML/CTF Obligations in Australia
Sophie Grace director Sophie Gerber lays out the obligations reporting entities must adhere to for compliance with AML/CTF rules in Australia.
February 6, 2019 -
525AML / KYCHKMA’s Regulatory Expectations of Remote Customer On-boarding
Remote onboarding technology should be able to authenticate customer identities through document image acquisition and “incontrovertibly” link identities through biometrics.
February 5, 2019 -
944AML / KYCJPMorgan Hong Kong Fined for Inadequate AML/CTF Controls
An HKMA investigation found that JPMorgan Hong Kong failed to establish and maintain effective controls for handling wire transfers, conducting CDD and monitoring business relationships.
December 30, 2018 -
840AML / KYCOvercoming the Challenges of Cross-Jurisdictional Customer Onboarding
A digital-first approach to customer onboarding can protect companies from internal delays, customer dissatisfaction, hefty regulatory fines and reputational risk, says Claus Christensen.
November 28, 2018 -
1.6KAML / KYC
Revised HKMA Guidelines on AML/CFT to Take Effect from November
The Guidelines are set to take effect from 1 November for authorised institutions and stored value facilities. The HKMA has also published its policy and supervisory approach.
October 22, 2018 -
2.0KAML / KYC
MAS Shelves ‘KYC Utility’ Project as Costs Surpass Expectations
The setup cost of the KYC utility exceeds the savings banks would be able to achieve, MAS managing director Ravi Menon told Bloomberg.
October 15, 2018 -
349ChinaChina Details Penalties for Bond Underwriting Kickbacks
The CSRC will ban or impose penalties on firms engaging that help companies with low creditworthiness issue debt in exchange for under-the-table payments.
September 21, 2018
