All posts tagged "insurance"
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112ChinaCBIRC Enhances Complaints Handling Mechanisms in Banking, Insurance
Banks and insurers are required to complete complaints handling processes within 15 days in cases where the facts are clear and the matter in dispute are simple.
January 22, 2020 -
142ChinaCBIRC Whistleblower Handling Mechanism to Take Effect from March
The measures oblige banking and insurance supervisors to investigate violations of banking and insurance laws and regulations reported by whistleblowers, and to protect their privacy.
January 20, 2020 -
520AML / KYCBangladesh Introduces e-KYC for All Financial Services Firms
All financial institutions regulated by Bangladesh Bank are expected to introduce e-KYC in compliance with the new guideline by December 2020.
January 14, 2020 -
214EnforcementTaiwan FSC Penalises Taichung Commercial Bank for Lax Controls
The bank and its insurance unit were fined for lax controls on entertainment spending and for awarding bonuses to sales staff who hadn't sold any products, among other failures.
January 13, 2020 -
257Australia & NZASIC Bans Ex-AMP, NAB Adviser for Four Years
An ASIC review of advice files found a failure to make sufficient inquiries into client circumstances and existing financial products when providing advice.
January 9, 2020 -
519China
CBIRC Issues Guidance on Banking, Insurance Sector Development
The guidance sets 5-year targets for banks and insurers to improve in areas such as governance, risk management, financial product development and fintech innovation.
January 9, 2020 -
800AML / KYC
CBIRC Tightens Scrutiny of AML/CTF Programmes at Banks, Insurers
Banks and insurers are required to submit annual reports on their AML/CTF programmes within 20 working days after the end of each year. For 2019, the reports should be submitted by 15 February 2020.
January 6, 2020 -
841Australia & NZAustralian Banks Offer Emergency Relief to Bushfire Victims
The services being offered by ABA member banks to help customers include fee waivers, loan repayment deferrals, and additional financing to help cover cash flow shortages.
January 6, 2020 -
1.2KAML / KYCMalaysia Replaces AML/CFT Framework with Two Policy Documents
The first document is for banks, insurers, money services businesses and payments providers. The second is for NBFIs and DNFBPs, including lawyers, accountants, casinos, real estate agents and trust companies.
January 3, 2020 -
383EnforcementFSA Orders Insurance Sales Halt at Japan Post Amid Misconduct Findings
Two Japan Post Holdings subsidiaries are required to suspend insurance product sales for three months and submit business improvement plans by end-January.
December 28, 2019
