Anti-Money Laundering

Philippines Approves House Bill to Strengthen AML Law

26/11/2020

The amendments will bring precious metals dealers, casinos and real estate brokers and developers into scope under the Anti-Money Laundering Act.

Anti-Money Laundering

RBNZ Investigates Two Banks Over AML Compliance

26/11/2020

The RBNZ is also looking into compliance issues eight banks have identified with transaction reporting requirements over the past six months.

Capital Adequacy

BCBS Amends Capital Treatment of Securitisations of NPLs

26/11/2020

NPL securitisation exposures will be subject to 100% risk weight or higher, except for those risk-weighted using the external ratings-based approach.

Conduct, Culture & Accountability

MAS Announces Measures to Develop Financial Sector Workforce

26/11/2020

MAS will launch a new Work-Study Support Programme to develop job-ready graduates and extend the Training Allowance Grant for company-sponsored trainees by six months.

Structural Regulation

CBIRC Finalises Enhanced Rules for Trust Companies

26/11/2020

The new rules will take effect on 1 January, strengthening requirements for shareholders, managers and independent directors of trust companies.

Conduct, Culture & Accountability

SFC Bans Ex Sun Hung Kai Account Exec Over Discretionary Trading

26/11/2020

The former licensed representative effected transactions in two clients’ accounts on a discretionary basis without obtaining prior written authorisations or senior management approval.

Capital Adequacy

APRA to Integrate AASB 17 with Capital, Reporting Frameworks

26/11/2020

A failure to update the frameworks would result in insurers needing to maintain dual valuation, actuarial, accounting and reporting systems, APRA says.

Structural Regulation

Australia Concludes Review of Retirement Income System

26/11/2020

The review signals little urgency to increase compulsory employer superannuation payments, as legislated, to 12 percent by 2025.

Trading & Investment

BOT Relaxes Investment Restrictions to Hold Down Baht

26/11/2020

The changes will make it easier for residents to invest overseas and hold foreign currency at local banks. ETFs tracking foreign securities will be allowed to list in Thailand.