Conduct, Culture & Accountability

SFC Bulletin Shows Sponsor Conduct Still Top-of-mind

07/02/2020

The Regulatory Bulletin offers case studies illustrating the SFC’s key areas of concern and recent regulatory interventions in IPO applications and corporate transactions.

Anti-Money Laundering

EBA Consults on Revised ML/TF Risk Factors Guidelines

07/02/2020

The proposed changes will significantly strengthen Europe’s AML/CFT defences and foster greater convergence of supervisory practices, the EBA says.

Structural Regulation

SGX RegCo Offers Guidance as New Disclosure Rules Take Effect

07/02/2020

Listed companies should have robust and effective internal controls in place to assess material information requiring disclosure, says SGX RegCo chief Tan Boon Gin.

Structural Regulation

Cabinet Approves Amendments to Bring Co-op Banks Under RBI Oversight

07/02/2020

Under the amendments, the RBI gain powers to supersede the board of a cooperative bank under stress, with government approval.

Payments & Settlements

RBA Considers Mandating ‘Least Cost Routing’ – Reports

07/02/2020

Forcing banks to route payments through EFTPOS rather than Visa or Mastercard could save retailers an estimated A$500mn a year.

Conduct, Culture & Accountability

Banks Against Penalties Proposed in New Accountability Regime

07/02/2020

Australia’s new Financial Accountability Regime will subject accountable persons to penalties up to A$1.05mn per breach, or three times the benefit derived or detriment avoided, whichever is higher.

Trading & Investment

NAFMII Enables ‘Green Channel’ Bond Issuance Amid Virus Outbreak

07/02/2020

NAFMII will support companies affected by the coronavirus outbreak and those helping to contain it by enabling a ‘green channel’ for fundraising and debt issuance.

Conduct, Culture & Accountability

MAS Proposes New Requirements for Insurers Managing Par Funds

07/02/2020

Among the new requirements introduced for insurers is an obligation to ensure that any charge or expense allocated to the Par Fund is “fair and reasonable”.

KYC & CDD

BOT Launches Digital Account Opening Tests at Six Banks

07/02/2020

Six banks will open online deposit accounts digitally, using facial recognition to verify customer identities against information held in the new National Digital ID platform.