Compliance Regulations and Guidance Affecting your Industry

Malaysia’s Guidelines on Anti-Money Laundering was drawn up in accordance with the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA).

The Guidelines address requirements on the application of financial reporting standards and information to be disclosed in the financial statements of banking institutions. Compliance with IFRS has been mandatory in Malaysia since January 1, 2012 for interim and annual financial statements and reports.

The Australian Prudential Regulatory Authority (APRA) Prudential Standard APS 520 Fit and Proper aims to:

• strengthen protection for depositors / policy- holders against risks involved in regulated institutions
• enhance the caliber of those charged with running APRA-regulated institutions
• establish a minimum benchmark for acceptable practice in the appointment of responsible persons /auditors

These Guidelines are intended to be used by any Western Australian Government Agency that is in the process of or intending to develop effective Business Continuity Management processes.

Guidelines on assessing a bank's internal capital adequacy, released by the Reserve Bank of New Zealand.

Application requirements for New Zealand banks looking to implement Basel II internal models approaches.

This document sets out guidelines issued under section 78(3) of the Reserve Bank of New Zealand Act 1989 (‘the Act’) on anti-money laundering.

Risk management guidelines issued by Monetary Authority of Singapore addressing insurance fraud for the insurance businesses in the country.

Capital Adequacy Guidelines as required by Basel III Accord for Malaysian banks and financial institutions.

Banking capital amendment regulations of Hong Kong, 2012.

This Prudential Standard sets out minimum foundations for good governance of a regulated institution in the deposit-taking, general insurance and life insurance industries. Its objective is to ensure that a regulated institution is managed soundly and prudently by a competent Board (or equivalent), which can make reasonable and impartial business judgements in the best interests of the institution and which duly considers the impact of its decisions on depositors and/or policyholders.

This Prudential Standard requires an authorised deposit-taking institution using the standardised approach to operational risk to hold sufficient regulatory capital against those exposures.

This Prudential Standard sets out the requirements that an authorised deposit-taking institution that has approval to use an internal ratings-based approach to credit risk must meet both at the time of initial implementation and on an ongoing basis for regulatory capital purposes.

This Prudential Standard requires an authorised deposit-taking institution to hold sufficient regulatory capital against credit risk exposures.

This Prudential Standard sets out the characteristics that an instrument must have to qualify as regulatory capital for an authorised deposit-taking institution (ADI) and the various regulatory adjustments to be made to determine total regulatory capital on both a Level 1 and Level 2 basis.

This Prudential Standard requires a general insurer or Level 2 insurance group to maintain adequate capital against the risks associated with its activities.

Environmental Protection Regulations enacted in South Australia in 2009.

This standard aims to ensure that ADIs implement proper measures to monitor and control the risks associated with their credit card activities.

This Prudential Standard requires each regulated institution and Level 2 group to implement a whole-of-business approach to business continuity management that is appropriate to the nature and scale of its operations. Business continuity management increases resilience to business disruption arising from internal and external events and may reduce the impact on the regulated institution’s or group’s business operations, reputation, profitability, depositors, policyholders and other stakeholders.

This Australian Prudential Standard requires authorised deposit-taking institutions to adopt prudent practices in managing the risks associated with securitisation and to ensure that sufficient regulatory capital is held against the associated credit risk.