All posts tagged "Record-keeping"
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1.8KFintech / RegtechFMSB Issues Statement of Good Practice on Algo Trading
The FICC Markets Standards Board sets out 10 Good Practice Statements for market participants and venue operators engaged in algorithmic trading in a new transparency draft.
June 25, 2020 -
632Australia & NZASIC Issues ‘Best Interests’ Guidance for Mortgage Brokers
Starting from 1 January 2021, ASIC will be closely monitoring conduct and outcomes to ensure mortgage brokers are effectively complying with the best interests duty.
June 25, 2020 -
536AML / KYCFMA Sues CLSA New Zealand for AML Breaches
CLSA Premium NZ failed to adequately conduct customer due diligence, terminate certain business relationships, report suspicious transactions, and maintain records.
June 24, 2020 -
542Australia & NZ
FMA Sets Out Full Licence Conditions for NZ Financial Advisers
In 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, 2020 -
1.0KAML / KYCAUSTRAC Ups Ante in Westpac Money Laundering Case
AUSTRAC has requested information from Westpac on additional child exploitation cases the bank detected in its lookback, potentially to use in penalty negotiations.
June 14, 2020 -
1.3KAML / KYCMAS Issues Consultation Response on FRC Framework
Regulated entities will no longer need to seek MAS approval prior to commencing business arrangements with foreign related corporations; a 14-day ex-post notification will instead be required.
June 8, 2020 -
1.8KAML / KYC
Westpac Removes EY as Auditor for Upcoming Risk Review – Report
EY's 2017 review of Westpac highlighted poor data quality, outdated infrastructure, incompatible systems, capacity issues, manual workarounds and historical underinvestment.
May 21, 2020 -
993FeatureHKMA, SFC to Jointly Review OTC Product Pricing at Intermediaries
The thematic review will assess the spreads intermediaries charge for non-exchange traded investment products such as bonds and structured products.
May 19, 2020 -
1.1KAML / KYC
Westpac Files Defence in Federal Court on its AML/CTF Failures
While Westpac made a number of admissions regarding AUSTRAC's claims, the bank said the majority of its international money transfers were correctly reported.
May 16, 2020 -
808MalaysiaMalaysia SC Issues New Capital Market Advertising Guidelines
Effective from 4 May, advertisers of capital markets products and services are no longer required to submit their advertisement materials to the SC for approval.
May 4, 2020
