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Enforcement
ASEAN Financial Sector Lacks Personal Accountability – Refinitiv Poll
By Editors | 09/05/2019
61% of the survey respondents said there is too little personal accountability in ASEAN’s financial sector, compared to just 16% who believe there is too much.
Fintech / Regtech
Open Banking Security Risks May Open Pandora’s Box
By Peter Lancos | 09/05/2019
The open banking initiative could be put in jeopardy if data is not sufficiently secured, say Peter Lancos, Jonathan Naismith and Suraj Nittoor at Exate Technology.
Capital / Liquidity
BOT Launches Phase Two of ‘Debt Clinic’ Scheme
By Editors | 09/05/2019
The second phase of the programme is aimed at helping troubled borrowers who owe credit card and personal loan debt to both bank and non-bank lenders.
AML / KYC
Philippine FIU Seeks an End to Bank Secrecy Law
By Editors | 07/05/2019
The AML Council is seeking additional powers to combat financial crime, including the lifting of the bank secrecy law, which would allow it to check all accounts regardless of transaction thresholds.
Securities / Derivatives
BSEC Publishes Draft Rules on Securities Short Selling
By Editors | 07/05/2019
The draft rules set out requirements for brokers and dealers in relation to short selling of securities, which is currently prohibited in Bangladesh.
Market Infrastructure
Philippines Allows Foreigners to Serve as Bank Directors, Officers
By Editors | 01/05/2019
The Philippine central bank has amended rules that previously prohibited the election and appointment of foreign nationals as directors and officers of financial institutions in the country.
Market Infrastructure
Singapore’s NETS to Co-Develop QR Payment System in Myanmar
By Editors | 30/04/2019
Singapore payment services provider NETS Group is helping the Myanmar Payment Union develop a unified e-payment system modelled after the SGQR.
Capital / Liquidity
Bangladesh Bank Relaxes Loan Classification Rules
By Editors | 29/04/2019
From 30 June, loans will be classified as ‘bad’ only once they have been overdue for at least 12 months, compared to nine months previously, among other changes.
Market Infrastructure
Culture & Conduct: the Global Regulatory Agenda
By Jeffrey Kupfer | 29/04/2019
The UK FCA has been a definitive leader in driving the global supervisory agenda in relation to culture and conduct risk, say Jeff Kupfer and Stephen Scott at Starling Trust Sciences.
AML / KYC
Wolfsberg Group Endorses APAC Toolkit for Tackling Human Trafficking
By Editors | 26/04/2019
The Wolfsberg Group has endorsed the latest Anti Human Trafficking Toolkit from the Thomson Reuters Foundation, tailored for use in Asia Pacific by banks and financial institutions.
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