All posts tagged "fit and proper"
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154EnforcementSFC Bans Former Private Banker Over False Academic Qualifications
The SFC considers the former relationship manager to not be fit and proper as her conduct was "plainly dishonest".
December 2, 2021 -
119Capital RegulationRBI to Update Rules on Ownership of Private Sector Banks
Promoters will be able to increase their long-run stakes in private sector banks from 15 to 26 percent. The capital requirement for a universal bank licence will be doubled.
December 2, 2021 -
116Asia-PacificBSP Issues Revised Corporate Governance Rules for FIs
Non-Filipino citizens can become members of a bank's board of directors, to the extent of foreign ownership in the institution.
November 25, 2021 -
197EnforcementSFC Bans Two Ex-Licensees Over Use of Client Accounts
One former representative effected discretionary trades in clients’ accounts without authorisation. The other traded his own stocks from a client’s accounts.
November 12, 2021 -
190FeatureHKMA Issues New Code of Practice for Banks’ Trust Business
Locally incorporated AIs should ensure their trust subsidiaries comply with the code of practice. Supervisory action may be taken for noncompliance.
November 8, 2021 -
138Enforcement
SFC Fines Fulbright Securities Over Internal Control Failures
Fulbright Securities breached regulatory requirements when processing placement subscription applications for a Hong Kong-listed company in August 2018.
November 2, 2021 -
257AML / KYCNew Zealand Consults on Broad Changes to AML/CFT Act
Changes being considered include the introduction of a new registration regime for all AML/CFT businesses, a licensing regime for VASPs, and direct penalties for senior managers.
October 8, 2021 -
6.8KContributed ArticleThe Impact of MAS’ IAC Guidelines on Data Governance
Irene Liu and Catherine Lee discuss the applicability of MAS' Guidelines on Individual Accountability and Conduct on data governance.
September 9, 2021 -
316Capital Regulation
RBI Panel Proposes New Regulatory Framework For UCBs
The RBI panel recommends a four-tier structure for regulating UCBs, and the establishment of an umbrella organisation to oversee them.
August 26, 2021 -
580Asia-PacificOJK Indonesia Introduces Digital Banking Framework
Digital banks should have a minimum paid-up capital of IDR 10 trillion (USD 694 million). However, the capital deposit required at the time of application is IDR 3 trillion.
August 23, 2021
