All posts tagged "Record-keeping"
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533Australia & NZASIC Shifts Focus to Ensure Market Integrity, Protect Consumers
Covid-19 has raised the risk of significant consumer harm and serious breaches of financial services laws, says ASIC chair James Shipton.
April 14, 2020 -
956FeatureSFC Extends Deadlines on Three Regulatory Initiatives
The deferred initiatives relate to new requirements on external data storage, client asset protection, and brokers' systems for maintaining order life cycle data.
April 1, 2020 -
686Australia & NZ
ASIC Drafts Guidance on New Mortgage Broker Best Interests Duty
ASIC proposes mortgage brokers be required to identify what interests they or their related parties have, and to not provide credit assistance where it is not possible to prioritise consumer interests.
February 22, 2020 -
570Australia & NZ
APRA, ASIC Welcome Reforms on Superannuation Regulation
ASIC will be focused on conduct issues involving superannuation trustees, while APRA will be focused on prudential supervision of trustee activities.
February 17, 2020 -
779ChinaHKEX Updates Rules for Southbound Investor Identification Regime
The rule update requires the China broker to keep records of all submitted orders, SEHK trades and related client instructions for a minimum of 20 years.
January 8, 2020 -
2.3KAML / 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 -
1.7KAML / KYC
BNM Issues Draft Rules on Financial Sector Use of Electronic KYC
BNM recommends the use of AI, machine learning or other forms of predictive algorithms to ensure accurate identification and verification, and to automate decision-making in customer onboarding.
December 17, 2019 -
1.1KEnforcement
SFC Fines China Rise for Short Selling, Cross Trading Breaches
China Rise's former CEO placed 199 illegal short selling orders in 2014, and an unnamed senior manager executed cross trades at a price detrimental to the client.
November 1, 2019 -
1.9KAML / KYCFATF Issues Draft Guidance on Digital Identity Systems
The draft guidance analyses the use, reliability and independence of digital ID systems, and looks at how they can meet FATF requirements around customer due diligence.
November 1, 2019 -
577InternationalFMSB Issues Final Guidance on Conflicts of Interest
The FICC Markets Standards Board offers guidance to help market participants effectively deal with conflicts of interest that arise within their firms.
October 16, 2019
