Australia AGD Moves to Reform Bankruptcy Law

12/07/2024

Attorney-General Mark Dreyfus said the amendments would ensure a fairer outcome for debtors in the personal insolvency system.

AML / KYC

Australia Issues Warning Against Money Recovery Scams

10/07/2024

The National Anti-Scam Centre says ongoing scam losses highlight the need to introduce mandatory industry codes as soon as possible.

Enforcement

PayPal Used Unfair Contract Term, Australian Court Rules

10/07/2024

The Federal Court ruled that PayPal’s standard form contracts with small business customers contained an unfair contract term.

Crypto / Digital Assets

Philippine Crypto Firm Launches First Peso Stablecoin

09/07/2024

Coins.ph has launched its Peso-backed stablecoin to enhance efficiency and reduce costs of transactions and payments.

Enforcement

HK Financial Consultant Pleads Guilty in ICAC Fraud Case

09/07/2024

The consultant pleaded guilty in an investment fraud case that also involves three former StanChart relationship managers.

Capital / Liquidity

Hong Kong Passes Bill to Raise Depositor Protection Limit

09/07/2024

The bill will raise the protection limit from the current HKD 500,000 to HKD 800,000, effective on 1 October 2024.

Fintech / Regtech

SFC to Introduce New Investment Product Authorisation Platform

09/07/2024

The new e-IP system will allow users to digitally submit new product applications and post-authorisation or registration submissions.

Enforcement

MPFA Fines HSBC for Non-compliant Referral Programme

09/07/2024

HSBC recruited and offered incentives to unregistered persons to refer corporate clients to the bank for MPF business.

Australia Introduces New Disclosure Rule for Public Companies

09/07/2024

All companies open to investment by the public must disclose all their subsidiaries, regardless of size or materiality.