Crypto / Digital Assets

SFC Warns of ‘Improper Practices’ by Unlicensed Crypto Exchanges

08/08/2023

Some crypto exchanges have misled investors by falsely claiming they have applied for licences when in fact they have not.

Enforcement

Australia Announces ‘Crackdown’ on Tax Adviser Misconduct

08/08/2023

The maximum penalties for tax advisers who promote tax exploitation schemes will increase 100-fold to more than A$780mn.

Fintech / Regtech

EBA Issues Report on the Use of Machine Learning for IRB Models

07/08/2023

The report proposes a set of principle-based recommendations to ensure the appropriate use of ML techniques by institutions in the context of IRB models.

ACCC Rejects ANZ-Suncorp Merger Deal Over Competition Concerns

07/08/2023

The ACCC said a merger between Bendigo and Adelaide Bank and Suncorp would be a better outcome.

Crypto / Digital Assets

Industry Bodies Call on IOSCO to Tackle Conflicts of Interest in Crypto

06/08/2023

The WFE, GDF, IIF and FIA each address conflicts of interest in the crypto sector in their responses to IOSCO’s consultation.

Crypto / Digital Assets

HashKey, OSL Win Approvals Needed to Serve HK Retail Crypto Investors

04/08/2023

As existing licence holders, both firms had to undergo only a simplified process to obtain the required approvals.

Capital / Liquidity

BIS Paper Draws Lessons from HKMA Approach to NBFI Monitoring

03/08/2023

The HKMA framework highlights how multiple data sources can be used to extract valuable information and signals for timely NBFI monitoring.

Capital / Liquidity

ECB Intensifies Bank Scrutiny to Maintain Stability

31/07/2023

ECB will stop paying interest on minimum reserves, require weekly liquidity data, and impose capital add-ons for leveraged finance exposures.

AML / KYC

HKMA, SFC Offer New Guidance on Suitability Obligations

30/07/2023

HKMA and SFC say intermediaries can tailor their point-of-sale procedures to the personal circumstances of sophisticated professional investors.