Know your customer (kyc)
Banks used to see a competitive advantage in identifying customers, but it has now become a regulatory headache, with multibillion dollar fines being levied on those firms not up to speed
With just a few months to go until the US tax-evasion law comes into force, banks are still uncertain on how to handle compliance
More Know your customer (kyc) articles
Time is running out for foreign companies to register under the US Fatca anti-tax-evasion law, but they are still frustrated by a lack of clarity on the law’s requirements, in particular the rules governing know-your-customer procedures
Initial service will focus on bank policies, but Swift aims to expand
Establishing a coherent system of legal entity identifiers has been an important challenge for the swaps industry over the past two years. Now, in the face of regulatory pressure, anti-money laundering teams face the same challenge – but meeting it...
In response to industry fears of a collateral crunch, regulators have revised the proposed rules on margining for uncleared over-the-counter (OTC) derivatives.You can find out more by downloading this white paper here.
Hong Kong, 1st - 31st Dec 2014
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