AML / KYC

SFC Fines Emperor Securities, Emperor Futures for AML Breaches

17/03/2022

Emperor processed third party fund transfers without validating the relationships between the clients and the third parties, or the reason for the transfers.

Capital / Liquidity

Japan to Further Delay Implementation of Basel III – Report

17/03/2022

Basel III implementation will be delayed until March 2024, due to the pandemic and the financial market turmoil caused by Russia’s invasion of Ukraine.

Crypto / Digital Assets

US Treasury Forms Educational Subgroup on Digital Assets

16/03/2022

The new subgroup will develop educational materials to help consumers make informed decisions about digital assets.

Enforcement

Taiwan FSC Penalises Shin Kong Over Governance, Control Failures

16/03/2022

Shin Kong Financial Holding executives were taking directions from the former group chairman, who was barred in 2020.

Enforcement

RBI Lifts Restrictions on Digital Product Launches at HDFC

16/03/2022

The restrictions were imposed in 2020 in response to multiple digital outages that impacted customers. HDFC is India’s largest private bank.

Crypto / Digital Assets

Thai SEC Revises Definitions for Institutional, HNW Investors

16/03/2022

Institutional investors will include those with the ability to analyse and absorb risks in complex and high-risk products, such as VC and PE firms, investment analysts, and company directors.

AML / KYC

INTERPOL Launches Financial Crime and Anti-Corruption Centre

16/03/2022

The new centre will adopt a multi-agency approach to drive a coordinated global response to transnational financial crime and corruption.

Market Infrastructure

FS-ISAC Warns of Cyber Risk ‘Trifecta’ in 2022 and Beyond

15/03/2022

Boards, auditors, and regulators will demand that firms level up their incident response playbooks, tools, and platforms.

Fintech / Regtech

RBI Launches New Services to Drive Digital Payments Adoption

15/03/2022

UPI-based instant payments can be enabled on some 400 million feature phones in India that do not have an internet connection.