Crypto / Digital Assets

Swift Payment Network Piloted for Tokenised Fund Settlements

07/11/2024

The pilot used the payment orchestration capabilities of existing Swift infrastructure to settle fund subscriptions and redemptions.

Enforcement

PBOC Fines Two Leading Securities Firms for AML Violations

07/11/2024

The two firms were penalised for failures to properly identify customers and submit suspicious transaction reports, and for conducting transactions with unidentified customers.

UK Orders Chinese Firm to Sell Stake in Semiconductor Business

07/11/2024

The order aims to mitigate the risk of “UK-developed semiconductor technology and associated intellectual property being deployed in ways that are contrary to UK national security”.

Fintech / Regtech

New Project Nexus Entity to be Established in Singapore

07/11/2024

The new management entity will oversee the live implementation of the Nexus operational model, which involves linking instant payment systems.

AML / KYC

FATF Upgrades South Africa on Three Recommendations

07/11/2024

The FATF said South Africa has made progress in addressing most deficiencies identified in its 2021 mutual evaluation report.

AML / KYC

Taiwan Showcases Financial Sector’s New Anti-Fraud Tech Projects

07/11/2024

The initiatives include a joint learning project aimed at enhancing the accuracy of fraud detection models, and the use of telco data to help identify payment and remittance fraud.

Crypto / Digital Assets

Hong Kong Broker to Launch ‘Virtual Asset Structured Products’

06/11/2024

Victory Securities said the SFC has granted it approval to market and distribute “cash-settled virtual asset structured products” to qualified professional investors.

Securities / Derivatives

CSRC Grants Morgan Stanley Final Approval for Futures Business

06/11/2024

Morgan Stanley will become just the second foreign firm after JPMorgan to have a fully-owned futures business in China.

Fintech / Regtech

MAS, BdF Complete Joint Experiment on Post Quantum Cryptography

06/11/2024

The experiment tested the use of quantum-resistant cryptographic algorithms for email communications. The next phase will focus on payments.