Operational Risk

HSBC, Hang Seng Suffer Internet Banking, ATM Disruption

06/06/2022

Finance sector legislator Chan Chun-ying said he expects the HKMA to demand detailed reports on the incident from the two banks.

Anti-Money Laundering

EU Proposes to Make AML Compliance a Licence Condition

05/06/2022

EBA, EIOPA and ESMA propose that AML/CTF compliance be a specific requirement for firms, including crypto firms, to obtain and maintain their licences.

Emerging Prudential Risks

RBNZ Proposes Changes to its Monetary Policy Remit

05/06/2022

The RBNZ suggests housing market objectives be excluded from the remit, just a year after it was amended to include house price considerations.

Trading & Investment

Dhaka Bourse to Launch First ETFs in Three Months

05/06/2022

BSEC has given consent to allow ETFs to launch in Bangladesh’s capital market. The minimum size of an ETF will be set at $5.6mn.

Cybersecurity

Foreign Firms Express Concern Over CSRC Cybersecurity Rules

05/06/2022

Financial firms are reportedly concerned that proposed new rules on cybersecurity could make them vulnerable to hackers and present sector-wide risks.

Anti-Bribery & Corruption

Former CSRC Official Sentenced to Death With Reprieve

05/06/2022

A former CSRC official and Communist Party city chief was found to have taken $41mn in bribes between 2004 and 2020.

Market Risk

Philippine: DOF to Have Oversight of FX Trades by Govt Entities

04/06/2022

The Department of Finance is directed through a presidential order to provide oversight of FX derivatives activities of non-bank government entities.

Reporting & Disclosures

ESMA Issues Supervisory Guidance on Greenwashing in Funds

04/06/2022

ESMA says administrative measures, including enforcement, may be appropriate in cases where SFDR disclosures are misleading or do not match fund documentation.

Market Abuse

CFTC Files Suit Against Winklevoss-founded Crypto Exchange

03/06/2022

The CFTC says Gemini misled the regulator about whether it could prevent manipulation in the prices used as a benchmark for a bitcoin futures contract.