03/20/2018
KPMG Singapore implements RegTech applicaton with Lombard Risk
KRIS is a cloud-based regulatory technology (RegTech) offering between the two organizations
Legal, Regulation & Compliance
03/19/2018
China regulators’ merger not seen to affect control of insurance investments
The Chinese government said on March 13 that it plans to form a supervisory agency for the banking and insurance sectors by combining the China Banking Regulatory Commission and the China Insurance Regulatory Commission.
03/19/2018
Indonesian banks will see more than 12% loan growth in 2018: regulator
More than 300,000 people have borrowed from fintech firms, with total loan distribution reaching 3t rupiah in Jan
03/19/2018
Super industry wants tougher insurance code
As a baseline, super funds endorsing the code pledge to contact members six months after the last contribution is made to combat account balance erosion.
03/19/2018
Indonesian banks likely to see more than 12% loan growth this year
Reuters reported that OJK was considering setting a cap on interest rates and the size of loans offered by fintech firms, in a move aimed at minimising the risk of defaults.
03/19/2018
StanChart Fined in Singapore for Money Laundering Breaches
Two units fined a total of $4.9 million by monetary authority
03/19/2018
Malaysia readies robo-adviser licence
The licence will be issued to qualified fund houses that plan to be involved in automated discretionary portfolio management services.
03/19/2018
G20 urged to adopt common regulations for cryptocurrencies
It is understood discussions on cryptocurrencies will take place across both days between finance officials from G20 members.
03/18/2018
India’s Axis Bank expands UAE business with a third representative office
Lender has a 20% market share of $12b remittance from UAE to India
03/15/2018
China boosts insurance oversight with regulatory revamp
Central bank will lay down the rules while merged watchdog handles policing
03/15/2018
SFC reprimands and fines CLSA Limited $9 million over internal control failures
The SFC also took into consideration the undertaking of CLSA’s board of directors that reasonable steps will be implemented within the next 12 months to rectify CLSA’s internal control failures in relation to avoidance of conflicts of interest
03/15/2018
Singapore police and regulator team up to investigate IFAs
This arrangement will allow both agencies to consolidate their investigative resources and expertise and further improve the overall effectiveness of market misconduct investigations.
03/15/2018
Deutsche Bank fined for regulatory breaches in Hong Kong
The companies have agreed to submit an internal report to the regulator after 12 months to ensure implementation of remedial measures.
03/15/2018
Bank Negara adds Tu-E Capital to alert list
A check on the Tü-E Capital website shows the company has an office in Kuala Lumpur.
03/15/2018
Money 20/20: Open banking eases regulatory hurdles in fintech
It is long since an established bank has shared its license and regulatory expertise through an open platform based on application programming interface,
03/15/2018
Banking royal commission: document shows NAB bosses well aware of fraud
Hearing told bank knew its ‘introducer program’ had problems months before telling regulator
03/14/2018
Barclays in Australian U-Turn?
Barclays did little to dampen the speculation it could reverse course and come back to Australia.
03/14/2018
Regulatory disruption hampers long-term vision for super
She added while it may be easy for those within the industry to get distracted by regulatory disruption such as the Royal Commission, the industry must prioritise more future-focused and member-focused strategies.
03/14/2018
Court Allows Bank Of Baroda To Leave South Africa Over Gupta Brothers Links
Bank of Baroda was the only bank that had been working with the Gupta companies after all South African banks severed ties with them following corruption allegations against Ajay, Atul and Rajesh Gupta involving billions of rands.
03/14/2018
After UBS Ban, Hong Kong to Punish Other `Reckless' IPO Sponsors
The SFC wants to hold individuals as well as the firms accountable, Atkinson said.