AML / KYC

Japan FSA to Mandate Stricter ID Checks for E-payments

20/10/2020

The FSA plans to revise its guidelines for bank transfers to e-payment service providers in response to a series of fraudulent withdrawals.

AML / KYC

AUSTRAC Launches AML Investigation into Crown Resorts

20/10/2020

The probe is related to Crown’s use of casino junkets to bring wealthy gamblers to its Melbourne casinos and possible non-compliance with due diligence and AML requirements.

AML / KYC

OFAC Settles Iran Sanctions Case with Berkshire Hathaway

20/10/2020

A Berkshire subsidiary knowingly exported cutting tools and related inserts to Turkish distributors to then be shipped to a distributor in Iran for resale to Iranian end-users.

AML / KYC

Goldman US Penalty Over 1MDB to be Announced ‘Within Days’

20/10/2020

Goldman Sachs Group has reportedly reached a more than $2bn settlement with the US DOJ over its role in Malaysia’s 1MDB scandal.

FSC Korea Unveils New Measures to Lower Borrower Debt Burden

20/10/2020

Lenders will be prohibited from denying loan deferments on non-overdue loans and from activating a trigger clause for events of default when a borrower applies for debt adjustment.

Market Infrastructure

RBNZ Consults on Draft Guidance on Cyber Resilience

20/10/2020

The guidance aims to raise awareness of, and ultimately promote, the cyber resilience of the financial sector, especially at the board and senior management level.

Market Infrastructure

Shenzhen Granted Autonomy to Enact Market-based Reforms

19/10/2020

Shenzhen will be able to make its own laws on artificial intelligence and big data, start a stock futures index, and list companies on its stock market with depositary receipts.

Securities / Derivatives

CSRC Green-lights Ant Group Hong Kong Stock Listing

19/10/2020

The approval follows reports that a probe into a potential conflict of interest in the planned $35bn stock listing threatened to delay the IPO.

Enforcement

Australian Court Orders Penalty Against NAB Over Introducer Programme

19/10/2020

The penalty was discounted due to NAB’s cooperation with ASIC and its admissions that it contravened the law by using unlicenced home loan referrers.