Payments & Settlements

SEBI Developing New Settlement Process for Stock Market

28/09/2022

Under the new system, funds for secondary stock market transactions would be blocked until securities settlement is done.

Cryptocurrency

DBS Rolls Out Crypto Services to 100,000 More Investors

28/09/2022

Accredited wealth clients are able to trade four cryptocurrencies on DDEx – Bitcoin, Bitcoin Cash, Ethereum, and XRP.

Anti-Money Laundering

Korea FSS Finds More Suspicious Crypto-Linked FX Transactions

28/09/2022

FSS investigations have so far involved 82 corporates and 12 banks. The total value of abnormal FX transactions discovered is now $7.2bn.

Data Privacy

Indonesian Lawmakers Pass Personal Data Protection Law

28/09/2022

The law introduces GDPR-like concepts, grants data subjects greater control over their data, and allows penalties up to 2% of annual revenue.

Reporting & Disclosures

ESMA Publishes Final Guidelines on MiFID II Suitability Requirements

28/09/2022

Firms will need to help clients understand the concept of sustainability preferences and explain differences between products with and without sustainability features.

Fraud, Scams & Cybercrime

Malaysia Announces New Measures to Combat Financial Scams

28/09/2022

Malaysian banks will migrate SMS OTP to a more secure form of authentication, and further tighten detection rules and triggers to block scam-related transactions.

Conduct, Culture & Accountability

ASIC Finalises Guidance on Completing Timely Remediations

28/09/2022

ASIC says it should not have to oversee remediations in order for consumers to receive fair and timely outcomes.

Structural Regulation

NZ FMA Proposes to Update Guidance on Broker Obligations

28/09/2022

The FMA is proposing to update its 2014 guidance to align with regulatory updates and incorporate additional guidance for custodians.

Conduct, Culture & Accountability

HKMA Launches Enhanced Competency Framework on Compliance

28/09/2022

The ECF-Compliance establishes a set of common and transparent competency standards for practitioners working in banks’ compliance functions.