AML / KYC

Bangladesh Introduces e-KYC for All Financial Services Firms

13/01/2020

All financial institutions regulated by Bangladesh Bank are expected to introduce e-KYC in compliance with the new guideline by December 2020.

Market Infrastructure

QME to Leverage Blockchain to Standardise Warehouse Receipts

13/01/2020

HKEX’s Qianhai Mercantile Exchange will use blockchain tech from Ant Financial to provide verifiable warehouse receipts which will help commodities businesses to obtain financing.

Securities / Derivatives

Indian Stock Exchanges Introduce Cross Margining Facilities

13/01/2020

NSE launched the cross-margining facility from Friday (10 January), whereas BSE India will introduce it from Wednesday (15 January).

Enforcement

Taiwan FSC Penalises Taichung Commercial Bank for Lax Controls

13/01/2020

The bank and its insurance unit were fined for lax controls on entertainment spending and for awarding bonuses to sales staff who hadn’t sold any products, among other failures.

SEBI Issues New Requirements for Gift City Investment Advisers

13/01/2020

Firms providing investment advisory services in Gift City are required to have a net worth of at least $1.5mn.

Market Infrastructure

Amex Closer to Entering China Bank Card Market – Report

13/01/2020

The latest approval comes over two years after Amex was approved to start preparing a joint venture business with local partner LianLian.

Securities / Derivatives

HKEX Asks Participants to Prepare Systems for Investor Compensation Levy

13/01/2020

While the collection of the investor compensation levy is currently suspended, exchange participants should take necessary actions to prepare for its calculation and payment.

AML / KYC

AUSTRAC, UK Gambling Commission Sign Anti-Financial Crime MOU

13/01/2020

The signing of the MOU brings the number of jurisdictions AUSTRAC shares regulatory intelligence with to five, on top of 93 MOUs it has with financial intelligence units.

Fintech / Regtech

S. Korea Passes Bills Enabling Commercialisation of Data

13/01/2020

The bills allow the commercial use of unidentified individuals without seeking their consent. A new data exchange will be launched in March.