Fraud, Scams & Cybercrime

Korea Issues Arrest Warrants for Terra Founder, Five Others

14/09/2022

Prosecutors say Terra coins were investment securities under Korea’s capital markets law. Do Kwon is alleged to have committed fraud.

Clearing & Post-Trade

Japan FSA Proposes New Derivatives Reporting Guidance

14/09/2022

The draft guidelines explain the data fields that need to be included in reporting, along with technical specifications and best practices for reporting.

Capital Adequacy

GHOS Reaffirms Expectations on Full Basel III Implementation

13/09/2022

BCBS oversight body reaffirmed its expectations on Basel III and discussed BCBS work underway on climate and crypto risks.

KYC & CDD

Singapore Introduces Bill to Enhance Business Trust Governance

13/09/2022

CEOs will have to disclose interests in transactions. Unlisted business trusts will have to obtain and maintain information on beneficial ownership of their units.

Conduct, Culture & Accountability

Australia Reintroduces Legislation for Financial Accountability Regime

13/09/2022

If the legislation passes, the FAR will apply to banks six months after commencement, and to insurance and superannuation 18 months after commencement.

Cryptocurrency

SFC Allows HashKey to Manage Funds Comprising 100% Crypto

13/09/2022

HashKey says it will be allowed to manage funds exclusively investing in virtual assets in compliance with the SFC’s regulations

Anti-Money Laundering

FATF, INTERPOL to Ramp Up Global Asset Recovery Efforts

13/09/2022

The FATF and INTERPOL will work to improve international efforts to freeze, seize and confiscate criminal assets including by enhancing cooperation frameworks and available tools.

Sustainable Finance

Taiwan: Five Financial Holding Companies Form Net Zero Alliance

13/09/2022

The five are Yuanta Financial Holdings,  Cathay Financial Holdings, First Financial Holding, E.Sun Financial Holding and CTBC Financial Holding.

Cloud & Infrastructure

BSP Approves Introduction of Regulatory Sandbox Framework

13/09/2022

The regulatory sandbox framework will enable the BSP to balance the perceived benefits of emerging technologies against the need to manage their risks.