Australia to Update Registration Framework for Tax Practitioners

18/07/2024

The registration framework is being updated to better protect consumers and ensure higher standards of professional conduct among tax practitioners.

Enforcement

Australia Fines Telstra for Failure to Authenticate Customer IDs

18/07/2024

The ACMA said Telstra failed to use ID authentication processes for 168,000 high-risk customer interactions, such as SIM-swap requests and password resets.

Fintech / Regtech

US Treasury Publishes Cloud Adoption Guidance for FIs

18/07/2024

The new set of documents are intended to arm FIs  of all sizes with effective practices for secure cloud adoption and operations.

Enforcement

US Jails Man for Shipping Microelectronics to Russia via Hong Kong

17/07/2024

Russian national Maxim Marchenko procured dual-use military grade microelectronics for Russian end users using Hong Kong-based shell companies.

Fintech / Regtech

FSC Korea Progresses Work on BNPL Regulation

17/07/2024

Amendments will impose disclosure and suitability-checking requirements on businesses that offer BNPL services.

Enforcement

CFTC, FTX Reach Agreement on $12.7b Settlement

17/07/2024

The CFTC is only payable to the extent that funds are available after customer and creditor claims are settled.

Korea to Improve Fairness of Early Loan Repayment Fees

17/07/2024

Lenders will be required to calculate early repayment fees based on actual losses and loan-related costs incurred.

Crypto / Digital Assets

US to List First Spot Ether ETFs Next Week – Reports

17/07/2024

Final approvals for up to eight spot ether ETFs are expected on Monday. Trading is expected to start the next day.

Fintech / Regtech

HKMA Assessing Whether Virtual Banks Have Achieved Policy Goals

17/07/2024

The HKMA is evaluating whether the eight virtual banks have achieved the intended policy objectives since the licences were granted in 2019.