Other Asia Pacific

AML / KYC

Fighting TBML to Sustain a Post-pandemic Recovery in APAC

By Claus Christensen | 27/01/2021

As we inaugurate the next phase of international trade, the FATF is pushing trade-based money laundering to the top of the international community’s agenda, says Claus Christensen at Know Your Customer.

Securities / Derivatives

Sri Lanka Issues Good Practices Guidelines for Stockbrokers

By Duruthu E Chandrasekera | 26/01/2021

The guidelines are mandatory and require immediate implementation. Three months’ grace is given for a new cap on investment advisor commissions.

Capital / Liquidity

2021 Outlook for BCBS 239 Compliance in Southeast Asia

By Irene Liu | 26/01/2021

PwC’s South East Asia Consulting team discusses progress made to comply with BCBS 239 in Southeast Asian jurisdictions, providing an outlook and recommendations for the year ahead.

Securities / Derivatives

Sri Lanka SEC Approves New IPO Process, Relaxed Listing Rules

By Duruthu E Chandrasekera | 25/01/2021

The SEC has asked the Colombo Stock Exchange to implement a broad programme to educate companies on the simplified processes and encourage them to list.

AML / KYC

BSP Highlights AML Risks of Cash, Cross-Border Payments

By Editors | 24/01/2021

Suspected criminal proceeds mostly came from Australia, Germany, Singapore, the UK and the US. The top destinations of suspected illicit funds were Hong Kong, Singapore and the US.

Capital / Liquidity

CBSL Orders Banks to Delay Dividends, Halt Share Buybacks

By Editors | 24/01/2021

Foreign banks are also instructed to defer repatriation of profits not already declared for 2019 and 2020 until their financial statements for 2020 are finalised and audited.

AML / KYC

Financial Crime 2021: Digital ID, Due Diligence, Sanctions

By Editors | 21/01/2021

Last year’s financial crime landscape forced many FIs to rapidly adapt to evolving threats. In the year ahead, a continued focus on risk mitigation is prudent.

Securities / Derivatives

Hong Kong, Thailand Agree Mutual Recognition of Funds

By Editors | 20/01/2021

Each Hong Kong or Thai fund approved under the MRF scheme will have to appoint a firm in the other market to serve as its representative.

AML / KYC

Lessons Learned From APAC’s Landmark Year of AML Fines

By Payal Patel | 19/01/2021

Drawing from landmark penalties in 2020, FINTRAIL’s Payal Patel and Sara Abbasi identify key lessons to help financial institutions guard against financial crime.