Bovill: Financial services regulatory consultants
Bovill Newgate Asia > Bovill Newgate Asia > Insights

Insights

Regions

Categories

| Asia

MAS getting serious with AML/CFT compliance

The MAS released a guidance paper on 30 October 2024 setting out their supervisory expectations and good practices for effective anti-money laundering and countering the financing of terrorism. The inspections have…

| Asia

Asia Newsletter | October 2024

NEWSLETTER: Market integrity seems to be a recurring theme from the regulators lately, featuring across multiple fronts. The recent SFC circular shares a laundry list of shortcomings including conflicts of interest, risk…

| Asia

Re-assessment of accredited investor eligibility

The MAS has capped the value of digital payment tokens that can comprise an individual’s net personal assets when determining accredited investor eligibility. The changes came into effect on 4th…

| Asia

SFC reinforces integrity expectation and shows determination to combat industry misconduct

The SFC has issued a new circular flagging various deficiencies and substandard conducts. These weaknesses were identified during its supervision of asset managers engaged in managing private funds and discretionary…

| Asia

Getting your BCM audit on track

With the 6 June audit deadline behind us, firms should have conducted their first Business Continuity Management audit to ensure they comply with the regulatory guidelines, and that the plan…

| Asia

Binance AML failures intensify virtual asset scrutiny

In a major setback for the world’s largest cryptocurrency exchange, a federal judge has ruled that the bulk of the SEC’s lawsuit against Binance can move forward. A recent class…

| Asia

Asia Newsletter | August 2024

NEWSLETTER: While the recent, global IT outages are already feeling like a distant memory, the reminder of what can go wrong when operational risks emerge continues to linger. Our global…

| Asia

IA steps up AML scrutiny of insurance industry with HK$23 million penalty

The IA has imposed a HK$23 million pecuniary penalty on insurer AIA International for its lapses and deficiencies in anti-money laundering (AML) and counter-terrorist financing (CFT) oversight, highlighting the need…

| Asia

New LFMCs required to submit quarterly MAS returns for first time

Since the MAS repealed its RFMC regime on 1st August 2024, all successful applicants became Licenced Fund Management Companies overnight. Firms now face important changes to compliance obligations, including being…

| Asia

SFC enforcement on insider trading and ramp-and-dump cases

The SFC has been pushing enforcement efforts to uphold market integrity, with an increase in criminal prosecution for investigations at the District Court and the Court of First Instance. With…

| Asia

SFC reinforces Financial Resource Return expectations in HK

The SFC has issued a new circular emphasising the importance of robust financial resources management and adherence to the Securities and Futures Rules. This directive underscores the regulator’s expectations around…

| Asia

Asia Newsletter | June 2024

NEWSLETTER: It’s been wonderful to spend the last couple of weeks with colleagues and clients as we came together as Bovill Newgate. As our teams across Asia continue to celebrate,…
Menu