Capital / Liquidity

Vietnam Sets Targets to Improve Banking System Health

25/08/2022

The MOF also aspires to have two to three Vietnamese commercial banks classified as among the top 100 strongest banks in Asia by 2025.

Fintech / Regtech

New Monitoring Body Concludes First Review of ASIC

25/08/2022

ASIC requires a substantial uplift in its data and technology capability, the FRAA says in its first review of ASIC as a regulator.

Enforcement

MAS Fines Noble Group Over Misleading Financial Statements

25/08/2022

The S$12.6mn fine is understood to be the largest fine for the publication of misleading financial statements in Singapore’s history.

AML / KYC

Wolfsberg Group Issues Guidance on Correspondent Banking RFIs

24/08/2022

When used to its “fullest potential”, the RFI process can provide insights into how respondents’ AML/KYC programmes work in practice.

Enforcement

FCA Fines Citi’s UK Unit Over Trade Surveillance Issues

24/08/2022

The FCA said Citigroup did not properly implement MAR requirements to monitor orders and trades to detect market abuse.

Crypto / Digital Assets

FDIC Orders Crypto Firms to Correct Misrepresentations

24/08/2022

Five crypto firms were ordered to correct false representations stating or suggesting that certain crypto-related products are FDIC-insured.

Crypto / Digital Assets

Korean Police Pilots Crypto Seizures to Settle Unpaid Fines

24/08/2022

The programme was introduced as a way to collect unpaid fines in a contactless way. The amount seized reportedly exceeded all collections made in the last three years.

Enforcement

SG Police Make Series of Arrests Targeting Scam Syndicates

24/08/2022

4 were arrested over phishing scams targeting bank customers, and another 13 as part of a joint operation with Malaysian police.

Capital / Liquidity

CFTC Extends No-action Relief for Foreign Nonbank Swap Dealers

24/08/2022

Nonbank swap dealers domiciled in Japan, Mexico, the UK and EU can rely on compliance with home country capital and financial reporting requirements until October 2024.