Anti-Money Laundering

Hong Kong Passes Bill to Facilitate Financial Crime Info-Sharing

06/06/2025

The new law will enable banks to share personal account information for the purposes of detecting and preventing financial crime.

Operational Risk

BSP Proposes Amendments to Disaster Relief Policy for Banks

05/06/2025

The relief policy includes waivers of penalties for late filings, extensions for regulatory reporting deadlines, and deferral of examinations.

Conduct, Culture & Accountability

Australia FSC Issues Best Practice Framework for Super Funds

05/06/2025

The FSC has released a 12-principles superannuation best practice framework to improve retirement outcomes for fund members.

Operational Risk

BSP Proposes Revised Basel III Operational Risk Rules for Banks

05/06/2025

The draft rules outline updated standards for operational risk capital, replacing existing approaches with a single “business indicator” metric.

Structural Regulation

Philippine SEC Approves First Two Entrants to Regulatory Sandbox

05/06/2025

Pluang PH and GCash are the first companies to enter the SEC’s new sandbox, allowing them to pilot their platforms in a controlled environment.

Conduct, Culture & Accountability

ASIC Sues Westpac Unit for Systemic Misconduct 

04/06/2025

ASIC commenced civil penalty proceedings against a subsidiary of Westpac for “systemic” misconduct in arranging home loans.

Conduct, Culture & Accountability

ASIC Fines Australian Retirement Trust for Misleading Performance Data

03/06/2025

Australian Retirement Trust was issued an infringement notice because it published “out-of-date” performance data on its website.

KYC & CDD

ACMA Fines Telco for Breaching ID Verification Rules

03/06/2025

Mobile numbers were inadvertently transferred to scammers, resulting in losses from consumers’ bank accounts.

Anti-Money Laundering

New Zealand DIA Warns Money Remitter for AML Noncompliance

03/06/2025

The DIA said further action may be taken if noncompliance with New Zealand’s AML/CFT laws continues.