All posts tagged "financial institutions"
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80ChinaChina Issues Draft Law Aimed at Improving Audit Practices
The law prohibits the entities being audited from refusing to provide information, delaying such provision, and submitting false information.
June 17, 2021 -
222AML / KYCJapan FSA Sets Hard Deadline for Full AML/CFT Compliance
The FSA has directed FIs to formulate a plan that ensures full compliance with its AML/CFT guidelines by March 2024.
June 8, 2021 -
57AML / KYCBSP Orders Banks to Enhance STR Filing Processes
Incorrect STR filings, as identified by the AMLC in a recent review, could downplay the risk and prioritisation of STRs, particularly when they involve high-risk crimes.
June 7, 2021 -
72ChinaCBIRC Warns Small Banks to Rein In Property Lending
The CBIRC will punish lenders that help borrowers to circumvent regulations prohibiting the use of business loans to buy real estate.
June 3, 2021 -
554AML / KYCPBOC Finalises New AML Regulations for Financial Institutions
The new regulations take effect from 1 August 2021 and are applicable to non-bank financial institutions, overseas bank branches and holding subsidiaries.
April 20, 2021 -
237AML / KYCFinCEN Consults on Beneficial Ownership Reporting Requirement
FinCEN is asking for written comments on the implementation of the beneficial ownership information reporting of the Corporate Transparency Act.
April 8, 2021 -
222Asia-Pacific
BSP Issues Draft Guidelines on New ‘Bad Bank’ Law
Banks can stagger the booking of losses from the discounted sale of NPAs to FIST corporations over five years, provided proper disclosures are made.
March 9, 2021 -
561AML / KYCFATF Releases Draft Guidance on Proliferation Financing Risk
The FATF is seeking feedback on the guidance from financial institutions and DNFBPs and will revise the text ahead of June 2021 discussions.
March 2, 2021 -
356Asia-PacificASIFMA Calls for Harmonised Approach to Public Cloud Regulation
Varying regulatory approaches across jurisdictions pose significant challenges to FIs trying to implement the public cloud as part of their global strategy.
March 2, 2021 -
339AML / KYCOECD Calls for Global Crackdown on ‘Professional Enablers’
The OECD says each jurisdiction should implement a national strategy to deal with lawyers, notaries, accountants, and FIs that facilitate tax evasion, bribery and corruption.
February 27, 2021
