AML / KYC

AUSTRAC Signs Anti-Financial Crime MoUs with UK FCA, HMRC

20/02/2023

The MoUs will support improved supervisory practices and tools, and facilitate enhanced monitoring of businesses operating across the UK and Australia.

Crypto / Digital Assets

US SEC Fines Former NBA Star Over Crypto Promotion

20/02/2023

Paul Pierce promoted crypto asset securities known as EMAX tokens on social media without disclosing that he was paid to do so.

Crypto / Digital Assets

BOJ Confirms Plans to Launch CBDC Pilot Programme in April

19/02/2023

The BOJ will conduct simulated digital yen transactions with private firms starting in April to test the “end-to-end” process flow and identify connectivity challenges.

Market Infrastructure

China Implements Registration-based IPO System on Main Markets

19/02/2023

The new system simplifies the process for companies seeking to raise funds through mainboard listings on the Shanghai and Shenzhen stock exchanges.

Securities / Derivatives

Taiwan: Jih Sun and Fubon Units Receive Merger Approval

19/02/2023

The securities and futures firms’ mergers are the result of a merger between the two firms’ financial holding companies, which completed last November.

ESG / Sustainability

Shenzhen Bourse Enhances Listed Company Disclosure Guidelines

19/02/2023

Companies in certain industries will have to disclose major pollution accidents, to promote better environmental governance.

Enforcement

US SEC, CFTC Penalise OCC Over Internal Rule Violation

19/02/2023

As a result of certain deficiencies, the Options Clearing Corp’s clearing fund was “underfunded” at various times between October 2019 and May 2021.

Market Infrastructure

Australia Considers 116 Proposals to Reform Privacy Law

19/02/2023

The proposals include increasing individuals privacy rights and imposing additional obligations on organisations in possession of personal data.

ASIC Publishes New Indigenous Financial Services Framework

19/02/2023

ASIC encourages the financial services industry to improve their understanding of First Nations peoples and embed this into their engagement approach.