BNM Proposes Changes to Rules on Personal Financing

18/12/2024

BNM will abolish the use of the Rule of 78 method in personal financing and set at 10 year tenure limit on such lending.

AML / KYC

AUSTRAC Sues Online Betting Site Operator Entain for AML Breaches

17/12/2024

AUSTRAC CEO said the failures in Entain’s approach to its AML/CTF obligations were “systemic” and “left the company at serious risk of criminal exploitation”

Enforcement

JPX Penalises Nomura Over JGB Futures Manipulation Case

17/12/2024

OSE has imposed a fine and a threeday JGB futures trading suspension on Nomura Securities while the TSE issued a reprimand.

Fintech / Regtech

SC Malaysia, CGC Group Partner to Boost MSME Financing

17/12/2024

The SC will collaborate with CGC Group and CGC Digital to enhance access for MSME and MTC to capital market financing solutions.

Capital / Liquidity

HKEX to Accept CGBs as Collateral for Swap Connect from 13 Jan

17/12/2024

From 13 January, China government bonds held through Bond Connect can be used as collateral for Northbound Swap Connect.

AML / KYC

AUSTRAC Sets AML/CTF Improvement Priorities for Reporting Entities

17/12/2024

AUSTRAC said wider board involvement is needed on ML/TF matters and firms should use tailored rules and triggers to prioritise high-risk investigations.

Fintech / Regtech

Cambodia, Vietnam Launch Cross-Border QR Payments Linkage

16/12/2024

The linkage allows Vietnamese and Cambodian visitors scan QR codes to make payments at merchants in each other’s countries.

Enforcement

ASIC Sues HSBC for Failing to Protect Customers from Scams

16/12/2024

ASIC says HSBC contravened the Corporations Act and Credit Act and caused customers to lose A$23mn from unauthorised payments.

Market Infrastructure

HKEX Introduces Fund Repository on Integrated Fund Platform

13/12/2024

HKEX said the Fund Repository will provide investors access to information on over 2,000 SFC-authorised funds.