Conduct, Culture & Accountability

ASIC Sues Westpac for Financial Hardship Misconduct

04/09/2023

ASIC said Westpac’s deficient process resulted in 229 customers not receiving a response to their hardship notice within the required 21 days.

Anti-Money Laundering

Crypto Travel Rule Comes into Force in the UK

04/09/2023

The UK is now one of several jurisdictions to have now implemented the travel rule for the crypto sector.

Tokenisation

Swift Publishes Findings from Tokenisation Experiments

04/09/2023

Swift says its existing infrastructure can provide a single point of entry for FIs to move tokenised assets across blockchains.

Structural Regulation

MAS to Get New Managing Director, Menon to Step Down

04/09/2023

Ravi Menon will step down from his role as managing director of MAS and retire from public service on 1 January 2024.

Structural Regulation

CSRC Approves Fund Sales Licence for HSBC Subsidiary

04/09/2023

The HSBC subsidiary becomes the first wealth management firm to hold both an insurance brokerage and a fund sales licence in China.

Capital Adequacy

Japan to Inject Public Funds into Regional Bank

04/09/2023

Kirayaka Bank will become the first regional bank in Japan to receive public funds since 2014.

Anti-Money Laundering

KoFIU Fines, Suspends Crypto Lender for AML Violations

04/09/2023

Crypto lender Delio failed to assess money laundering risks, had KYC lapses, and failed to restrict transactions with unregistered VASPs.

Structural Regulation

English Disclosure Still Inadequate in Japan Market: Survey

04/09/2023

The TSE said it plans to initiate discussions on measures that would make English disclosures mandatory for Prime Market companies.

Anti-Money Laundering

Malaysia: BNM Announces Penalties Against Ten Entities

04/09/2023

Seven entities within a group accepted deposits without a licence. Three other entities breached AML/CFT requirements.