AML / KYC

All VASPs Unprepared for New AML Rules, FSC Korea Finds

18/08/2021

Even VASPs with real-name accounts in place do not have dedicated employees in place for AML or adequate systems for suspicious transactions reporting.

AML / KYC

AUSTRAC to Address SMR Pain Points in Reporting System

18/08/2021

AUSTRAC will review the SMR report structure, improve the user interface of its reporting platform, provide more guidance and feedback to reporting entities, and improve reporting automation.

Fintech / Regtech

Thailand, Indonesia Pilot Cross-border QR Payment Link

17/08/2021

The full commercial launch will take place in Q1 2022. Indonesia has separately also launched a national open API payment standard.

Big Picture

OECD Offers Policy Advice for Regulating AI in Financial Services

17/08/2021

Among the recommendations are the introduction of suitability requirements for AI-driven financial services, and add-on capital buffers based on AI algorithms.

AML / KYC

HKEX Publishes Operational Details for New Investor ID Regime

15/08/2021

Market system development and testing will start in Q3 2021 and intermediaries will have to develop their internal systems by the end of Q1 2022.

Market Infrastructure

Banks Already Pricing Transition Risks in Loans: HKMA

15/08/2021

New research finds that APAC banks are charging ‘brown’ firms a higher lending rate than ‘non-brown’ firms, by around 23 basis points, since the Paris Agreement.

Capital / Liquidity

EU Banks Using Window Dressing to Avoid G-SIB Surcharges

13/08/2021

Several EU banks may be purposefully compressing their balance sheets at year-end to lower their G-SIB scores and the associated capital surcharges.

AML / KYC

HKMA Issues “Mandate” for Innovation in AML/CFT

12/08/2021

The HKMA will launch interactive lab sessions to experiment with new technologies and emerging data analytics techniques, with an initial focus on network analytics and NLP.

Securities / Derivatives

PBOC Scraps Rule Requiring Bond Issuers to Obtain Credit Rating

11/08/2021

Requirements for bonds issued in the interbank market to obtain a credit rating have disincentivised rating agencies from properly disclosing credit risks.