Malaysia

Conduct, Culture & Accountability

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.

Structural Regulation

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.

Anti-Bribery & Corruption

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.

Anti-Bribery & Corruption

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.

KYC & CDD

BNM Issues Draft Rules on Financial Sector Use of Electronic KYC

By Editors | 17/12/2019

BNM recommends the use of AI, machine learning or other forms of predictive algorithms to ensure accurate identification and verification, and to automate decision-making in customer onboarding.

Resolution & Recovery

Malaysia’s RHB Bank to Shutter Hong Kong Operations

By Editors | 11/12/2019

The move is said to be the result of an “increasingly challenging” operating and broking environment, largely attributed to a slow economy and ongoing civil unrest.

Structural Regulation

Philippine Bourse Proposes Tightening of Delisting Rules

By Editors | 06/12/2019

Under the proposed rules, a voluntary delisting must be approved by all independent directors and by stockholders owning at least 75 percent of the total outstanding listed shares.

Sustainable Finance

SC Malaysia Releases Five-Year Sustainable Investment Roadmap

By Editors | 27/11/2019

The Securities Commission has released a roadmap charting out Malaysia’s path to becoming a regional leader in sustainable and responsible investment.

Structural Regulation

Bursa Malaysia to Restructure, Giving Greater Oversight to CEO

By Editors | 23/11/2019

The existing business leadership team will report directly to the CEO following the restructuring. The new structure becomes operational in January.