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Anti-Money Laundering
Philippine President to Prioritise Bill to Ease Bank Secrecy Rules
By Manesh Samtani | 20/08/2021
The BSP welcomed the move, saying the bill will provide the central bank tools to investigate illegal activity and improve the safety of the banking system.
Structural Regulation
Thailand SEC Set to Overhaul Mutual Fund Regulations
By Pongnut Thanaboonchai | 17/08/2021
The SEC proposes more principle-based and flexible requirements for the establishment of new funds and in the investment decision process.
Anti-Money Laundering
US Real Estate the ‘Preferred’ Money Laundering Destination: GFI
By Ranamita Chakraborty | 13/08/2021
Lawyers, real estate agents, investment advisers, and bank employees have repeatedly facilitated money laundering through US real estate by HNWIs and PEPs.
Structural Regulation
Refinitiv Launches Prototype USD Fallback Rates for Cash Products
By Editors | 13/08/2021
There are two versions of the Refinitiv USD IBOR Cash Fallbacks: one for consumer cash products, the other for institutional cash products.
Structural Regulation
DTCC Urges Readiness for MAS Derivatives Reporting Requirements
By Sanday Chongo Kabange | 12/08/2021
Finance companies, subsidiaries of banks in Singapore, insurers and CMS licence holders will come into scope for reporting from 1 October.
Anti-Money Laundering
BitMEX to Pay $100m in Civil Penalties for US Regulatory Breaches
By Editors | 12/08/2021
BitMEX unlawfully accepted orders and funds from US customers to trade cryptocurrencies and failed to have in place an AML and user verification programme.
Trading & Investment
Thai SEC Proposes More Flexible Rules for Fund Advertising
By Pongnut Thanaboonchai | 11/08/2021
More principle-based requirements will provide more flexibility to fund managers while still adequately protecting investors, the SEC said.
Anti-Money Laundering
Chinese Nationals Face US Jail For Laundering Drug Money
By Editors | 11/08/2021
Six Chinese nationals face jail for conspiracy to launder money for El Chapo-linked drug cartels, using casinos, front companies, and false passports.
Reporting & Disclosures
SGX to Consult on Sustainability Reporting Enhancements “Soon”
By Manesh Samtani | 10/08/2021
The consultation will seek views on incorporating the TCFD recommendations, specific metrics to improve data comparability, assurance requirements, and board diversity disclosures.
Structural Regulation
Thailand’s Proposed SME Board Falls Short of Market Needs
By Pongnut Thanaboonchai | 09/08/2021
The SEC’s proposed SME board is unlikely to facilitate access to capital for startups that are most in need of funding, says Pongnut Thanaboonchai.
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