Malaysia

Market Infrastructure

Malaysia to Boost Digital Payments with $110m Giveaway

By Editors | 15/01/2020

Every Malaysian aged 18 years and above, and earning less than 100,000 ringgit a year, is eligible to receive a one-off 30 ringgit through one of three e-wallet companies.

Market Infrastructure

Malaysia Joins Digital Banking Revolution with Exposure Draft

By Natalie Curtis | 14/01/2020

Herbert Smith Freehills breaks down Malaysia’s new framework for digital banks, comparing the regime to those in Singapore and Hong Kong.

Market Infrastructure

BNM Issues Revised Equity Exposure Rules for FIs

By Editors | 06/01/2020

Financial institutions need BNM’s prior written approval to acquire or hold 20% or more of the voting shares or voting power in a corporation. Compliance is required by 31 December 2021.

AML / KYC

Malaysia Replaces AML/CFT Framework with Two Policy Documents

By Manesh Samtani | 03/01/2020

The first document is for banks, insurers, money services businesses and payments providers. The second is for NBFIs and DNFBPs, including lawyers, accountants, casinos, real estate agents and trust companies.

ESG / Sustainability

BNM Publishes Draft Taxonomy to Help FIs Classify Climate Risks

By Editors | 02/01/2020

Supervised institutions are expected to integrate climate-related risks and considerations into their business strategies and risk management practices, BNM says.

Market Infrastructure

BNM Issues Draft Responsibility Mapping Framework for FIs

By Editors | 30/12/2019

The framework will ensure that responsibilities and accountabilities for key functions at financial institutions are clearly allocated to appropriately senior and competent individuals.

Market Infrastructure

Malaysia Issues Draft Licensing Framework for Digital Banks

By Manesh Samtani | 28/12/2019

Foreign financial institutions will be allowed to hold a majority stake, but preference will be given to applications where Malaysian nationals own the controlling equity interest.

AML / KYC

Bursa Malaysia Adds Anti-Corruption Measures to Listing Requirements

By Editors | 20/12/2019

New requirements to have anti-corruption and whistle-blowing policies in place will promote better governance, accountability and transparency for investors.

AML / KYC

US SEC Settles FCPA Charges Against Goldman’s Tim Leissner

By Editors | 18/12/2019

Leissner has agreed to be permanently barred from the securities industry for violating antibribery, internal accounting controls, and books and records provisions of federal securities laws.