Enforcement

Taiwan FSC Fines SinoPac Group for Governance Failures

28/10/2023

The company held two non-routine strategic planning meetings with its major shareholder and former chairman, without keeping meeting records.

AML / KYC

UK Ushers in New Laws to Fight Fraud and Financial Crime

27/10/2023

The Economic Crime and Corporate Transparency Act received royal assent. The law enables crypto seizures and introduces a ‘failure to prevent fraud’ offence.

Fintech / Regtech

BSP Set to Launch Pilot Testing for New ITRS

27/10/2023

The BSP has started sending banks XML schema definitions for its new International Transactions Reporting System.

Crypto / Digital Assets

UK FCA Identifies Three Common Issues with Crypto Marketing

26/10/2023

The FCA expects firms authorised to approve financial promotions of cryptoasset firms to take their regulatory obligations seriously.

ESG / Sustainability

Thai SEC Translates TCFD Recommendations for Local Firms

26/10/2023

The move is intended to help listed companies, investment analysts and asset managers better understand climate-related financial disclosures.

Enforcement

FSS Korea on Recruitment Drive to Enhance Inspections

24/10/2023

The FSS is hiring 25 lawyers and accountants from financial firms to bolster its inspections and curb unfair practices.

Hong Kong Gazettes Commencement Notice for Bankruptcy Legislation

20/10/2023

The Commencement Notice seeks to appoint 29 December 2023 as the commencement date for amendments to the Bankruptcy and Companies Legislation.

Fintech / Regtech

India to Add More Banks to Singapore Payments Linkage – Report

19/10/2023

India and Singapore are planning to expand the number of Indian banks participating in the PayNow-UPI linkage launched in February.

Capital / Liquidity

APRA Calls for Improvements in Credit Risk Provisioning Practices

19/10/2023

Judgment-based adjustments to address model and data limitations should be supported by appropriately documented analysis and robust controls and governance.