The new Code sets out transparent and fair procedures for when asset reconstruction companies acquire assets from banks, along with anti-harassment provisions to protect borrowers.
July 20, 2020MAS found material lapses in outsourced AML/CFT controls, largely the result of poor assessment and due diligence processes, and lax oversight and monitoring.
July 16, 2020The HKMA is looking to address a lack of conduct requirements for trust businesses used by banks and their subsidiaries for wealth management purposes.
July 13, 2020Financial institutions have the freedom to decide on any combination of methods to identify and verify customers through e-KYC, but prior BNM approval is required.
July 1, 2020Digital lending platforms often do not disclose the name of the bank or NBFC providing the loaned funds. Under the new rules they will have to.
June 26, 2020IOSCO proposes six measures to assist members in creating appropriate regulatory frameworks to supervise market intermediaries and asset managers that use AI and ML.
June 26, 2020In a consultation paper, the FMA specifies three distinct classes of financial advice provider licences, to allow applicants to apply for the licence that best suits their circumstances and business structures.
June 18, 2020The framework and toolkit allow FinTechs to benchmark themselves against minimum standards on outsourcing, technology risk, and cyber hygiene, helping to fast-track onboarding with FIs.
June 11, 2020The principles include selection due diligence, information security, confidentiality issues, outsourcing risk concentration, and access to data, among others.
May 29, 2020The package includes training allowances, IBF course subsidies, salary support, digital acceleration grants, and free access to API Exchange.
April 9, 2020