OTHER ASIA PACIFIC

AML / KYC

Philippine FIU Seeks an End to Bank Secrecy Law

By Editors | 07/05/2019

The AML Council is seeking additional powers to combat financial crime, including the lifting of the bank secrecy law, which would allow it to check all accounts regardless of transaction thresholds.

Securities / Derivatives

BSEC Publishes Draft Rules on Securities Short Selling

By Editors | 07/05/2019

The draft rules set out requirements for brokers and dealers in relation to short selling of securities, which is currently prohibited in Bangladesh.

Market Infrastructure

Philippines Allows Foreigners to Serve as Bank Directors, Officers

By Editors | 01/05/2019

The Philippine central bank has amended rules that previously prohibited the election and appointment of foreign nationals as directors and officers of financial institutions in the country.

Market Infrastructure

Singapore’s NETS to Co-Develop QR Payment System in Myanmar

By Editors | 30/04/2019

Singapore payment services provider NETS Group is helping the Myanmar Payment Union develop a unified e-payment system modelled after the SGQR.

Capital / Liquidity

Bangladesh Bank Relaxes Loan Classification Rules

By Editors | 29/04/2019

From 30 June, loans will be classified as ‘bad’ only once they have been overdue for at least 12 months, compared to nine months previously, among other changes.

Market Infrastructure

Culture & Conduct: the Global Regulatory Agenda

By Jeffrey Kupfer | 29/04/2019

The UK FCA has been a definitive leader in driving the global supervisory agenda in relation to culture and conduct risk, say Jeff Kupfer and Stephen Scott at Starling Trust Sciences.

AML / KYC

Wolfsberg Group Endorses APAC Toolkit for Tackling Human Trafficking

By Editors | 26/04/2019

The Wolfsberg Group has endorsed the latest Anti Human Trafficking Toolkit from the Thomson Reuters Foundation, tailored for use in Asia Pacific by banks and financial institutions.

Market Infrastructure

BSP Issues Draft Rules for Implementing National Payment Systems Act

By Editors | 26/04/2019

The Philippine central bank has issued a draft circular to support its new mandate as the primary regulator for the country’s payment systems.

Market Infrastructure

Shenzhen, Thailand Stock Exchanges to Develop Cross Border Products

By Editors | 25/04/2019

An MoU sign by the SZSE and SET this week will facilitate the development of cross-border products such as ETFs, depositary receipts, indices and green finance products.