Market Infrastructure

RBNZ, FMA Releases Finalised Framework for FMIs

21/01/2022

Changes from the consultation relate to the treatment of critical service providers and introduce discretion regarding the publication of material breaches.

AML / KYC

AUSTRAC Expands AML Probe of Star Casino Group to ‘Other Entities’

21/01/2022

AUSTRAC has advised Star that it has not yet made a decision regarding its regulatory response, including whether or not enforcement action will be taken.

FSC Taiwan Lowers Notification Threshold for Online Transactions

21/01/2022

Banks have six months to update their system to reflect the new TWD 3,000 threshold that will trigger notifications that an online card transaction has taken place.

Securities / Derivatives

Shanghai INE Opens Applications for New Market Makers

20/01/2022

Shanghai INE says new market makers must have net assets of no less than CNY 50 million or its equivalent in foreign currency.

Enforcement

Statewide Superannuation Fined for Overcharging, Misleading Members

19/01/2022

Statewide also reported its breaches to ASIC some 45 days late. The firm is required to undertake a remediation programme and engage an independent expert for review.

AML / KYC

Russia Says REvil Hacking Group Has Been Dismantled

18/01/2022

Russia’s intelligence bureau raided 25 properties, detained 14 individuals, and seized cash, cryptocurrency and luxury vehicles.

Crypto / Digital Assets

ASIC Warns Against Investing Super in Crypto Assets

18/01/2022

ASIC says individuals who set up self-managed super funds may be increasingly targeted by scammers to invest in crypto-assets.

Hong Kong Anti Covid Restrictions Take Toll on Banks

18/01/2022

Banks including Goldman Sachs, Bank of America, Morgan Stanley and UBS are struggling to bring key executives into Hong Kong due to flight bans.

AML / KYC

KoFIU Unveils AML Supervision & Inspection Plan for 2022

18/01/2022

KoFIU will begin inspections on VASPs, financial institutions, casinos and mutual finance companies starting February.