All posts tagged "trust companies"
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1.0KAML / KYCMAS Penalises Asiaciti Trust for AML/CFT Failures
Asiaciti Trust failed to put in place adequate procedures to establish source of wealth, and did not inquire into unusually large transactions by customers who were PEPs.
July 23, 2020 -
930FeatureHKMA Proposes New Code of Practice for Banks’ Trust Companies
The 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, 2020 -
680EnforcementKorea: Banks, Brokers Agree Plan to Recover Lime Asset Losses
Twenty firms, including banks and brokers, will set up a new entity to manage the estimated 1.7tr won in assets frozen by Lime Asset Management since October.
June 11, 2020 -
729FeatureSFC to Narrow Scope of OTC Derivatives Licensing Regime
The OTC derivatives licensing regime will not capture corporate treasury activities of non-financial groups, portfolio compression services, and certain portfolio management activities.
June 10, 2020 -
5.1KJapanJapan’s New Foreign Investment Rules Take Effect
While a series of exemptions for foreign financial institutions have been granted, the new requirements only allow 30 days for full implementation on 7 June.
May 10, 2020 -
539AML / KYCCBIRC Simplifies Administrative Licensing for Trust Companies
The licensing rules reflect the cancellation of a $1bn asset threshold previously required of foreign financial institutions that invest in domestic trust companies.
April 16, 2020 -
557China
CBIRC’s New Rules for Trust Companies to Take Effect in March
When the measures take effect, a $1bn asset threshold required of foreign financial institutions to hold shares in domestic trust companies will be effectively cancelled.
February 11, 2020 -
2.4KAML / 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 -
1.1KCapital / LiquidityCBIRC to Launch Special Inspections Targeting Property Lending Practices
The special inspections will reportedly involve 75 banks in 30 cities, scrutinising all aspects of property-related loans, as regulators seek to rein in risk.
July 24, 2019 -
1.0KChina
New Opening Up Measures Coming ‘Soon’ – CBIRC Chairman
CBIRC chairman Guo Shuqing says 12 new measures will soon be introduced to further open up China's financial sector to banks and insurers.
May 2, 2019
