Conduct, Culture & Accountability

ASIC Wins Appeal Against Payday Lenders Cigno, BHF Solutions

30/06/2022

ASIC is now considering using its broader product intervention powers to address consumer detriment in continuing credit contracts.

Fraud, Scams & Cybercrime

Korea to Launch Investigation Team to Combat Voice Phishing

30/06/2022

The plan was announced in response to the death of a small business owner who committed suicide after he was scammed out of more than KRW 160 million.

Trading & Investment

FMSB Publishes Best Practices for Trading Platform Disclosures

30/06/2022

Trading platform arrangements should contain information about trading protocols, counterparty name disclosure, prioritisation, use of last look, and trade dispute resolution.

Climate Risk

Malaysia Regulators Publish TCFD Adoption Guide for FIs

30/06/2022

All local and foreign FIs are expected to adopt the basic recommendations set out in the application guide within a recommended timeframe of 24 months.

Anti-Bribery & Corruption

China: More Top Officials Get Roped into Corruption Crackdown

30/06/2022

Several PBOC and CBIRC officials have been named in corruption investigations. A former ICBC executive has pleaded guilty on bribery charges.

CBDCs

Taiwan Central Bank Completes Second Phase of CBDC Testing

29/06/2022

The central bank will now collect feedback from the trials, seek to gain public support for the CBDC, refine its technology, and establish regulations for the digital currency.

Anti-Money Laundering

Woori Bank, Crypto Exchange Under Probe for Money Laundering

29/06/2022

This is the first time that a Korean virtual asset exchange and a bank have been used as channels for money laundering, an official said.

Trading & Investment

Chinese Banks Asked to Prepare for Longer Yuan Trading Hours

29/06/2022

Longer trading hours will help meet the rising global demand for yuan transactions, narrow the onshore-offshore spread, and help Chinese investors hedge currency risk.

Structural Regulation

HK FRC Explores Joint Audit Inspections with Mainland Authorities

29/06/2022

Hong Kong’s Financial Reporting Council already has 13 cases involving mainland audit work papers, two of which have been concluded.