The new system is intended to detect excessive risk-taking by banks and investment funds to guard against an Archegos style collapse.
BOC UK’s internal customer database did not include reference to Sudan in the name or address fields of two customers despite knowledge of their location.
The fund will be distributed by three Chinese lenders. BlackRock plans to roll out passively-managed funds in China in the future as well.
The court action against TSB Bank was the first civil proceedings brought by the RBNZ under the AML/CFT Act.
The National Financial Reporting Authority is preparing a draft bill to propose to the government that will grant it greater financial autonomy and broader regulatory powers.
An FSS decision to ban Woori Financial Group Chairman Son Tae-seung from the financial industry for three years is effectively nullified.
Treasury will review the ASIC Industry Funding Model to ensure it remains fit for purpose amid structural changes taking place in the advice industry.
The former global head of sustainability at DWS alleges that the firm overstated how many assets had been screened against ESG criteria.
Banks are asked to start valuing newly invested fixed-term open-ended WMP assets based on market value starting from 1 September.
The finalists include ANZ, Citibank, Consensys, HSBC, IBM, Soramitsu, Standard Chartered, among others. They will progress to an eight-week Acceleration Phase to further develop and refine their solutions.