Tag: financial institutions
Showing 8 out of 8 results
MAS proposes to extend cross-border business exemption to foreign head offices and branches
Singapore and Hong Kong regulators propose enhanced enforcement powers to tackle bad apples
Renewed focus on compensation to address misconduct risk
The Financial Stability Board (FSB) released on 23 November 2018 its recommendations on the types of data regulators should be collecting from financial …
MANDATORY REFERENCE CHECKS TO STOP ROLLING BAD APPLES – MAS ISSUES CONSULTATION PAPER ON PROPOSED REQUIREMENTS
On 6 July 2018, the Monetary Authority of Singapore (MAS) issued a Consultation Paper which, among other things, proposes requirements for Financial …
MONEY LAUNDERING AND TERRORIST FINANCING RISKS FACING HONG KONG’S FINANCIAL INSTITUTIONS AND PAYMENT SYSTEMS
The Hong Kong government has published a report detailing the money laundering (ML) and terrorist financing (TF) risk assessment of Hong Kong. This …
Unexplained Wealth Orders: How might this new investigative tool affect you?
From 31 January 2018, UK authorities can use new and expansive investigative powers to require both individuals and corporate bodies to provide …
GROUP-WIDE AML/CTF COMPLIANCE: NEW OBLIGATIONS FOR FIRMS WITH OVERSEAS BRANCHES AND SUBSIDIARIES?
In December 2017, the European Supervisory Authorities published a Report on draft Joint Regulatory Technical Standards ("RTS") on the measures that …
Consultation conclusions published in Hong Kong on protected arrangements regulation under proposed resolution regime
The Financial Services and the Treasury Bureau, jointly with the Hong Kong Monetary Authority, the Securities and Futures Commission and the Insurance …