Anti-Money Laundering

SFC Asks Licensed Firms to Review Controls on Third-Party Deposits

01/06/2019

Senior management will be held accountable for failures to put in place effective policies, procedures and controls for handling third-party deposits and payments.

Anti-Money Laundering

Financial Crime on the Rise in APAC

31/05/2019

Almost three-quarters of Asia Pacific organisations have been victims of financial crime in the past year, according to recently published survey results by Refinitiv.

Resolution & Recovery

PBOC Sets Up AMC to Manage Deposit Insurance Fund

31/05/2019

The PBOC has reportedly established an independent entity to manage the deposit insurance fund, which was set up in 2015 and has so far accumulated 100 billion yuan.

Clearing & Post-Trade

India Delays CCP Interoperability Framework

31/05/2019

Trading members have been given one more month to develop processes that allow them to choose to clear and settle trades in other clearing corporations.

Supervision & Enforcement

SFC Fines China Merchants Securities for Mishandling Client Money

31/05/2019

China Merchants Securities has received a second fine this week, this time for using funds from client trust accounts for purposes not allowed under the SFC’s Client Money Rules.

KYC & CDD

RBI Allows Banks to Use Aadhaar for KYC

31/05/2019

The RBI will allow banks to use Aadhaar to authenticate and verify customer identities, provided customer consent is obtained.

Trading & Investment

S. Korea FSC Announces Derivatives Market Reforms

31/05/2019

The minimum deposit requirements will be abolished for professional investors and eased for retail investors. The minimum 20-hour compulsory training requirement will be reduced.

Trading & Investment

South Korea Cuts Securities Transaction Tax

30/05/2019

FSC chairman Choi Jong-ku has repeatedly called for a cut in the securities transaction tax to ease the burden it places on stock and mutual fund trades.

Cloud & Infrastructure

SEBI Floats Discussion Paper on Sandbox for Regulated Entities

30/05/2019

Under the proposed framework, entities regulated by SEBI will be granted certain facilities and flexibilities to experiment with innovative solutions in a live environment and on real customers.