Conduct, Culture & Accountability

HKMA Suspends Ex-Hang Seng Bank Employee for Dishonest Conduct

09/09/2024

The HKMA suspended a former Hang Seng Bank relevant individual for fabricating a client’s signature on a time deposit application form.

Structural Regulation

BSP Authorises Maybank to Launch Islamic Banking Operations

05/09/2024

Maybank is just the second bank authorised to launch Islamic banking operations in the Philippines, after CARD Bank was authorised in June 2023.

Data Privacy

New Zealand Consults on CDR for Banking, Electricity Sectors

04/09/2024

The proposal would require ANZ, BNZ, ASB and Westpac to implement open banking from 1 Dec 2025 and Kiwibank from 1 Dec 2026.

Structural Regulation

SFC Issues Licensing Guidance for Visiting and Returning Professionals

03/09/2024

The SFC provides guidance on licensing options for professionals visiting and returning to Hong Kong to conduct regulated activities.

Anti-Money Laundering

New Zealand to Introduce AML Amendment Bill in November

03/09/2024

A new cabinet paper sets out 25 proposals for further amendments to New Zealand’s AML/CFT Act.

Anti-Money Laundering

SFC Imposes Lifetime Ban on Former UBS Associate Director

03/09/2024

The former associate director was banned for life following his conviction for laundering $1.8mn that he stole from UBS.

Trading & Investment

HKEX Launches Weekly Options on Hang Seng TECH Index

03/09/2024

In November, HKEX will also launch weekly options on stocks including HSBC Holdings, Alibaba, Tencent Holdings and BYD.

Structural Regulation

Australia Consults on New Merger Notification Thresholds

02/09/2024

The notification thresholds determine which mergers must be notified to the ACCC under new rules commencing 1 Jan 2026.

Anti-Money Laundering

HKMA Fines WeChat Pay for AML Control Deficiencies

02/09/2024

WeChat Pay had control deficiencies in its process for undertaking CDD reviews and applying EDD measures.