All posts tagged "fit and proper"
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302InternationalA Review of Post-GFC Regulatory Approaches to Bank Boards
Of the 19 jurisdictions surveyed, all prescribe 'fit and proper' criteria to assess bank board members, however some authorities have no regulatory powers to approve their appointments.
March 18, 2020 -
302IndiaRBI Proposes Authorisation of New Retail Payment Systems
The draft framework is said to be aimed at addressing concerns that the NPCI has become ‘too big to fail’ and presents increased concentration risk.
February 13, 2020 -
498Australia & NZAustralia Passes Bills to Enhance Consumer Protections, Strengthen ASIC
The bills introduce a best-interests duty for mortgage brokers, ban unfair contract terms in insurance, and enable ASIC to more effectively enforce existing laws.
February 10, 2020 -
333EnforcementSFC Suspends RHB Securities AE for Unauthorised Discretionary Trades
The account executive conducted discretionary trades for a client account for almost two years without obtaining written authorisation.
January 30, 2020 -
418AML / KYCMAS Publishes Responses to VCC Consultation Papers
VCCs are required to engage an Eligible Financial Institution, or EFI, to perform necessary AML/CFT checks and maintain the register of controllers, nominee directors and beneficial owners.
January 16, 2020 -
498FeatureMalaysia Issues New Guidelines on Digital Assets
The guidelines require platform operators to carry out due diligence on prospective issuers of digital tokens, and issuers to satisfy governance and capital requirements.
January 16, 2020 -
481Featured ArticlesVideo: Understanding MAS’ IAC Guidelines with Herbert Smith Freehills
Regulation Asia sat down with Natalie Curtis, Partner at Herbert Smith Freehills, to understand MAS' new framework on individual accountability and conduct, ahead of its formal introduction expected in early 2020.
January 13, 2020 -
348Australia & NZNew Zealand Passes Bill to End Predatory Lending
Effective from April 2021, the bill will cap the interest and fees on loans at 100% of the loan amount and introduce a 0.8% per day rate cap for high-cost loans.
December 18, 2019 -
518EuropeUK Senior Managers Regime Now Covers All FCA Regulated Firms
All FCA regulated firms, including asset managers and hedge funds, now have to comply with the SM&CR, including for senior managers and key risk-takers hired at overseas branches.
December 13, 2019 -
422SingaporeEmployee Credit Checks by FIs Are Appropriate: MAS
It is entirely appropriate for FIs to assure themselves that their employees and representatives are in good financial standing, the MAS says.
November 29, 2019
