AML / KYC

AML / KYC

SEBI Relaxes KYC Norms for Indian Beneficial Owners of FPIs

By Editors | 26/09/2018

The latest circular allows Indians living overseas to hold only a non-controlling stake in an FPI entity, but permits them to fully control the investment manager in charge of its assets.

AML / KYC

Global Regulation Continues to Increase KYC Complexity – Accuity

By Editors | 18/09/2018

The KYC process has become increasingly complex, with rising costs, onerous processes and a skills shortage presenting challenges for compliance staff, says an Accuity report.

AML / KYC

South Korea Mulls Machine-Readable Regulation

By Garima Chitkara | 12/09/2018

FSS governor told fintech firms the regulator is considering machine readable regulation and automated data analysis systems to better detect and investigate financial crimes.

AML / KYC

Hong Kong FIs Share Foreign Tax Resident Data with IRD – Report

By Editors | 12/09/2018

Over 1,700 financial institutions have shared customer account balances and income details with the tax authority, as required by AEOI.

AML / KYC

SEBI Changes Course on Foreign Investor KYC Requirements

By Garima Chitkara | 11/09/2018

SEBI may be going back on new rules restricting non-resident Indians and persons of Indian origin from investing in India via the FPI route.

AML / KYC

Japanese Banks in Process of Closing Yakuza-Related Bank Accounts

By Garima Chitkara | 06/09/2018

According to a survey of Japanese banks, around half the members are in the process of closing bank accounts belonging to gang members, with 1300 accounts closed as of May; 4300 such accounts still remain in the banking system.

AML / KYC

SEBI to Review KYC Rules for FPIs Amid Criticism from Fund Industry

By Garima Chitkara | 06/09/2018

SEBI says fund industry’s claims that new rules barring non-resident Indians from investing via the FPI route will lead to $75bn in outflows is “preposterous”, but has agreed to review the norms and provide recommendations.

Market Infrastructure

ISIN-to-LEI Mapping Initiative Set to Improve Transparency

By Editors | 05/09/2018

New global initiative announced by ANNA and GLEIF will map ISINs to their corresponding LEIs, effectively linking the issuer and issuance of securities.

AML / KYC

What You Need to Know About the EU’s 5th AML Directive

By ComplyAdvantage | 05/09/2018

The Fifth Money Laundering Directive (5MLD) will come into force on the 10 January 2020, with far-reaching impacts aimed at addressing weaknesses in the EU’s AML/CFT regime that have come to light since the enactment of 4MLD in June 2017.