Anti-Money Laundering

Myanmar Announces Licensing Framework for Remittance Providers

26/11/2019

The move is aimed at providing a cost-effective channel for the legal movement of money into Myanmar and reduce the use of illegal money transfer brokers.

Conduct, Culture & Accountability

SGX RegCo Rewards Good Governance with ‘Fast Track’ List

26/11/2019

SGX RegCo has named 95 companies that will receive prioritised responses on selected corporate action submissions for maintaining high standards of governance, compliance and reporting quality.

Credit Risk

Vietnam Banks to Include ESG Factors in Credit Risk Analysis

26/11/2019

The State Bank of Vietnam has directed all Vietnamese banks to include ESG risk assessments in credit risk analysis and establish dedicated ESG analysis units by 2025.

Anti-Money Laundering

FATF to Develop Guidance on Disrupting Illegal Wildlife Trade

26/11/2019

Under its Chinese presidency, the FATF has made it a priority to help countries target money and criminal networks involved in the illegal wildlife trade.

Operational Risk

APRA Proposes Best Interests Duty for Insurance in Superannuation

26/11/2019

Superannuation funds which use related parties to deliver insurance will need to certify that the arrangements are in the best interests of members.

Clearing & Post-Trade

Thailand to Launches DLT Pilot Trading Corporate Bonds

26/11/2019

The DLT project was first announced in September, and will first test trading with bonds before expanding to equities, derivatives and investment funds.

Anti-Money Laundering

UPDATED – Westpac Announces Plan to Address AML/CTF Failings

26/11/2019

Westpac is determined to urgently fix the issues raised by AUSTRAC and lift its standards. ASIC and APRA have begun investigations into the bank.

PEPs & Sanctions

Singapore Company Director Jailed for North Korea Trade

25/11/2019

The Singapore man was reportedly selling luxury goods to a North Korean shop, shipping the goods via Dalian, and receiving payment via front companies in China and Hong Kong.

Structural Regulation

CBIRC Proposes Higher Conduct Standards for Trust Companies

25/11/2019

The CBIRC has issued draft rules cancelling the $1bn total asset threshold foreign FIs are currently required to meet to hold shares in domestic trust companies, among other revisions.