Market Infrastructure

APRA Finalises Operational Risk Management Guidance

13/06/2024

The guidance is designed to help FIs implement the new cross-industry standard on operational risk management.

Enforcement

ASIC Issues First Stop Order Targeting Crowdfunding Campaign

13/06/2024

ASIC issued an interim stop order against a crowd-sourced funding campaign because of its use of a nominee arrangement.

Hong Kong: New Sovereign Fund Starts Deploying Capital

13/06/2024

The HKIC, established in 2022, will make its first batch of investments in start-ups beginning this month.

Securities / Derivatives

New Zealand FMA Proposes New Rules for Derivatives Issuers

12/06/2024

The FMA proposes to limit the amount of leverage that derivative issuers can offer, and to require them to conduct suitability checks.

Australia Consults on Draft Regulations for Financial Advice Reforms

12/06/2024

The consultation proposes regulations to support the delivery of the first tranche of reforms to increase access to affordable financial advice.

Fintech / Regtech

Korea: Short Selling Monitoring System To Be Ready in March 2025

11/06/2024

South Korea’s ban on short selling can only be lifted after the new Naked Short Selling Detection System is in place.

Crypto / Digital Assets

HSBC China Launches e-CNY Services for Corporate Clients

11/06/2024

HSBC China has become one of the first foreign banks in the country to provide digital yuan services to both corporate and retail customers.

AML / KYC

Australia Court Orders SkyCity to Pay A$67m AML Penalty

07/06/2024

SkyCity’s failures “over many years allowed high-risk customers to move millions of dollars through the casino”.

Australia Introduces Legislation to Regulate BNPL Sector

06/06/2024

BNPL providers will need to hold a licence and comply with existing credit laws, including requirements to conduct affordability checks.