by Argus | Compliance, Financial Institutions, Fund Management Company, Insurance, News
MAS issues a Consultation Paper on proposed scope of IAC Guidelines The Monetary Authority of Singapore (MAS) published yesterday a Consultation Paper concerning the proposed scope of Guidelines on Individual Accountability and Conduct (IAC Guidelines). Consultation...
by Argus | Compliance, Financial Institutions, News
FSB reports Asia Pac firms are lagging in LEI adoption The Financial Stability Board (FSB) released this week a thematic review on the implementation of the Legal Entity Identifier (LEI), and offers several recommendations to promote a broader LEI adoption. You can...
by Argus | Compliance, Financial Institutions, News, Regulatory Compliance
New Industry Steering Group to Elevate Culture and Conduct Standards for Banks The Monetary Authority of Singapore (MAS) announced yesterday the creation of a new Culture and Conduct Steering Group (CCSG) in collaboration with the Association of Banks in Singapore...
by Argus | Financial Institutions, News, Regulatory Compliance
European Commission fines five global banks over FX Market Misconduct The European Commission fined Citigroup, Barclays, JP Morgan, MUFG and Royal Bank of Scotland (RBS) for a total amount of USD 1.2 billion for forex trading market misconduct. Nine individual traders...
by Argus | Financial Institutions, Insurance, News, Regulatory Compliance
MAS releases Prohibition Orders against three individuals for dishonest conduct The Monetary Authority of Singapore (MAS) issued Prohibition Orders (POs) taking effect on 8 May 2019 against three individuals for dishonest conduct. Mr Lee was Managing Director and Head...
by Argus | Anti Money Laundering, News, Ongoing Compliance, Regulatory Compliance
Nordic banks pool resources to centralize KYC checks The six major banks of the Nordic region are joining forces to set up a customer checking center to centralize KYC process (Know-Your-Customer) and fight money laundering more effectively. This comes after a money...
