Payments & Settlements

Myanmar Considers Joining SPFS, Russia’s SWIFT Alternative

21/06/2022

Myanmar is negotiating the possibility of joining SPFS, an alternative to SWIFT, as well as the use of Russian Mir cards in Asia.

Market Abuse

Australian Court Sentences CFD Trader for Insider Trading

21/06/2022

The CFD trader made AUD 343,000 in profit by trading on inside information regarding a takeover bid for PanAust Limited.

Anti-Money Laundering

HK Customs Arrests Woman for Suspected Laundering of HK$350m

21/06/2022

The woman used 23 personal bank accounts to launder the money over three years, mostly for shell companies set up by individuals from mainland China.

Reporting & Disclosures

Hong Kong Advances Work to Develop Green Finance Capacity, Talent

21/06/2022

Hong Kong will develop a GHG emissions estimation tool, a green classification framework, and adopt the ISSB standards when they’re ready.

Fraud, Scams & Cybercrime

Hong Kong: Victims Lost HK$1.28bn from Fraud from Jan-April

21/06/2022

Email fraud accounted for HKD 333 million of losses to companies and individuals in the first four months of this year.

Clearing & Post-Trade

HKEX to Enhance Clearing Flexibility for Stock Trades – Report

21/06/2022

HKEX plans to allow market participants to appoint multiple clearing banks for stock trades, a move already made for futures traders.

Supervision & Enforcement

CBIRC Fined 13 Banks in First Two Weeks of June

21/06/2022

The CBIRC is seen to be enforcing strict penalties in order to strengthen market discipline and improve internal control and governance at banks.

Cybersecurity

India Designates IT Resources of ICICI, HDFC, NPCI “Protected Systems”

21/06/2022

Unauthorised persons securing or attempting to secure access to protected systems can be jailed for up to ten years and liable for a fine.

Capital Adequacy

PBOC Accepts Ant Group’s FHC Licence Application – Report

21/06/2022

Ant Group is reportedly aiming to file a preliminary IPO prospectus as early as next month, subject to regulatory feedback on its financial holding company setup.