Emerging Prudential Risks

China Unveils Plans to Tackle Local Govt Debt Risks

27/10/2023

China will issue CNY 1 trillion of government bonds and allow local governments to front load part of their 2024 bond quotas.

KYC & CDD

Taiwan FSC Issues New Digital Identity Verification Guidelines

27/10/2023

The guidelines will make it easier for financial institutions to implement new identity verification mechanisms and scenarios.

Anti-Money Laundering

BAFT Updates Guidelines on Correspondent Banking Relationships

27/10/2023

The guidelines include new sections on ISO 20022 migration and special considerations for money services businesses and fintechs.

Capital Adequacy

China Finalises New Capital Management Rules for Banks

27/10/2023

The new rules revise how risk weights are measured, enhance supervision of the banking sector and improve information disclosure requirements.

Anti-Money Laundering

Penalties for Non-Enrolment with AUSTRAC to Start on 9 Nov

26/10/2023

Businesses that provide designated services without enrolling with AUSTRAC will accrue daily penalties starting from 9 November.

Anti-Money Laundering

AFP Arrests Seven Over $228m Money Laundering Scheme

26/10/2023

The seven are being charged under the “most complex AFP-led money-laundering investigation in the nation’s history”.

Trading & Investment

SFC Issues Circular on Use of Annualised Returns for MMFs

26/10/2023

The SFC has decided to allow fund managers and intermediaries to present annualised returns for MMFs for periods of less than one year.

Conduct, Culture & Accountability

UK Regulators Announce Removal of Banker Bonus Cap

25/10/2023

The BOE and FCA have scrapped rules for banks, building societies, and investment firms which cap bonuses at twice annual salary.

Conduct, Culture & Accountability

US SEC Fines BlackRock Unit Over Inaccurate Investment Descriptions

25/10/2023

BlackRock Advisors LLC incorrectly described a company that a fund it advised invested in and the interest rate the investment paid.