KYC & CDD

Philippine Banks Not Complying with FATCA May Face Sanctions

19/03/2014

Philippine banks with US-citizen clients who are non-compliant with US tax rules may face sanctions.

Structural Regulation

China to Ease Regulation on Financial Leasing

18/03/2014

China is relaxing rules for the country’s financial leasing sector in line with government efforts to introduce more market-oriented reforms in the financial industry.

Capital Adequacy

Australia’s Capital Regulation Framework Gets ‘Compliant’ Grade from Basel Committee

18/03/2014

The Basel Committee on Banking Supervision said Australia’s capital regulation framework overall was “compliant”.

Trading & Investment

India Regulator to Extend Trading Hours for Agricultural Commodities

18/03/2014

The Forward Markets Commission has extended the trading hours for futures contracts of agricultural commodities.

Structural Regulation

Taiwan Regulator to Ease Restrictions on Offshore Banking Units

18/03/2014

The Financial Supervisory Commission (FSC) is easing restrictions on the offshore banking units (OBUs) of Taiwanese lenders to boost the local asset management industry.

Structural Regulation

New Zealand Revises Financial Reporting Requirement

18/03/2014

The Financial Reporting Act, which changes financial reporting obligations for most companies, comes into effect on 1 April 2014.

Supervision & Enforcement

Reserve Bank of India, FSA of Japan Sign Pact on Banking Supervision

18/03/2014

The Reserve Bank of India has entered into an agreement with Financial Services Agency (FSA) of Japan for cooperation in the area of banking supervision.

Structural Regulation

Hong Kong Regulator Waives Annual Licensing Fee

17/03/2014

The Securities and Futures Commission (SFC) has waived the payment of annual licensing fees for market participants for another two-year period.

Structural Regulation

Hong Kong Amends Listing Rules on Company Announcement Headlines

17/03/2014

Hong Kong Exchanges and Clearing Ltd said it is amending the listing rules to introduce new categories to announcement headlines by issuers from April 1.