AML / KYC

Malaysia Issues AML/CTF Policy for Cryptocurrency Exchanges

01/03/2018

Cryptocurrency exchanges are required to fully identify all customers and monitor for money laundering and terrorist financing activities.

Fintech / Regtech

Hong Kong’s Fintech Sandbox Risks Alienating Innovators

28/02/2018

HKMA financial technology sandbox needs to evolve to maximise value for all concerned, a new study suggests.

Market Infrastructure

RBI Mandates Integration of SWIFT in Core Banking Software

26/02/2018

Punjab National Bank says $1.8bn fraud went undetected because staff failed to enter SWIFT instructions in core banking software.

Fintech / Regtech

New Zealand Opens Up Robo-Advisory Market

26/02/2018

Applicants will need to demonstrate capability and competency to provide robo-advice while ensuring consumer protection.

Crypto / Digital Assets

S.Korea to ‘Encourage’ Banks to Deal with Crypto Exchanges

22/02/2018

FSS governor says government will support ‘normalised trading’ of cryptocurrencies, requiring interaction of banks and crypto exchanges.

Enforcement

RBI Under Fire for Failure to Detect $1.8bn Loan Fraud

21/02/2018

Central bank audits failed to detect loan fraud using Punjab National Bank guarantees for over seven years; overseas branches which granted loans also under scrutiny.

Market Infrastructure

SGX to Develop New India Derivative Products

20/02/2018

New products will allow SGX participants to maintain exposure to India’s capital markets, following  the decision to stop issuing market data licenses to overseas exchanges.

Crypto / Digital Assets

Japan FSA to Empower Self Regulatory Body for Cryptocurrency

19/02/2018

Self regulatory organisation will create rules and set penalties for breaches of self-imposed rules.

Market Infrastructure

India Eases Market Access for Foreign Institutions

17/02/2018

Private banks, merchant banks can invest on behalf of FPI clients; pre-approval requirement for switching local custodian effectively scrapped.