Fraud, Scams & Cybercrime

RBI Opens Applications for Fourth Sandbox Cohort

06/06/2022

The fourth sandbox cohort will focus on preventing fraud. Eight entities have also been selected to participate in the third cohort on MSME lending.

Structural Regulation

ASX Finalises Changes to Issuer Services Fee Model

06/06/2022

The changes will take effect from 1 July and result in a “substantially simpler, clearer and more predictable” fee model, ASX says.

Tokenisation

Hong Kong SFC Issues Warning on NFT-related Risks

06/06/2022

Some NFTs have ‘crossed the boundary’ between a collectible and a financial asset, which would bring them under the SFC’s remit and require licensing.

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.