MARKET INFRASTRUCTURE

Market Infrastructure

Thailand Central Bank Requires E-Money Providers to Register

By JP Reimann | 23/04/2018

BOT requires all e-money, card and fund transfer service providers to register or seek approval from the central bank by 14 August.

AML / KYC

Banks Should Implement Wolfsberg KYC Initiative – MAS

By JP Reimann | 23/04/2018

MAS urges Singaporean banks to incorporate Wolfsberg due diligence questionnaire in risk assessment processes relating to correspondent banking relationships.

Fintech / Regtech

Ant Financial – A Disruptive Force for Regulators

By Peter Guy | 22/04/2018

Blurring the regulatory distinction between banking and financial technology creates both opportunity and pitfalls.

Big Picture

APAC Firms Failing at Cyber Breach Detection – Report

By Manesh Samtani | 22/04/2018

Asia Pacific firms take over 16 months to detect breaches, compared to over three months globally; over 35 months if breaches detected by external parties.

Market Infrastructure

‘Significant’ Governance Progress from Australian Banks – McPhee Report

By Manesh Samtani | 20/04/2018

Key initiatives introduced at banks include customer advocacy programmes, whistleblower protection policies and conduct background checks to stamp out staff with poor behaviour records.

Fintech / Regtech

Hong Kong Work Plan Includes Incentives for Fund Industry

By Manesh Samtani | 20/04/2018

Government reviewing and enhancing existing tax concession arrangements for fund industry; HKMA to launch real-time payments, issue virtual bank licences this year.

Fintech / Regtech

HKEX Fights Market Abuse with AI, Machine Learning Tech

By JP Reimann | 19/04/2018

NASDAQ technology aims to better safeguard market integrity, detect unusual trading and market abuse, and provide immediate review of group activity involving coordinated trades.

Capital / Liquidity

India Sets Floor for Foreign Investment into Unregulated Financial Entities

By Garima Chitkara | 19/04/2018

Minimum foreign investment into fund-based services by unregulated entities to be set at $20 million; $2 million for non-fund based services.

Market Infrastructure

HK, Japan to Connect Settlement Systems

By JP Reimann | 19/04/2018

BOJ-NET link with HKD CHATS will effectively eliminate the need for the US dollar as an intermediate currency in cross-border transactions.