Enforcement

Asset Manager H2O Avoids UK Fine by Agreeing to Repay Investors

09/08/2024

The FCA decided not to impose a fine despite “extremely serious” regulatory breaches that resulted in investors being trapped in funds since 2020.

ESG / Sustainability

Malaysia to Develop Fundraising Platform for Domestic Carbon Projects

09/08/2024

Bursa Malaysia is establishing a new industry working group to help develop a conceptual framework for the new fundraising platform.

BOJ Pledges No Rate Hikes While Markets are “Unstable”

08/08/2024

BOJ’s recent rate hike prompted a significant unwinding of the Japanese yen carry trade which fueled a rout in global stock markets.

Securities / Derivatives

PBOC Requests Daily Reports from FIs on Bond Holdings

08/08/2024

NAFMII has also launched a probe against four rural commercial banks over suspected manipulation in the treasury bond market.

AML / KYC

US, Germany Take Down Illicit Crypto Platform Cryptonator

08/08/2024

Cryptonator facilitated transactions worth USD 1.4 billion, including those linked to sanctioned entities and criminal marketplaces.

Fintech / Regtech

US Lawmakers Introduce Regulatory Sandbox Bill for AI

08/08/2024

The legislation would require the Fed, SEC, OCC, CFPB, FDIC, FHFA, and NCUA to establish regulatory sandboxes for AI experimentation.

AML / KYC

Taiwan FSC Imposes AML Fine on Crypto Firm Rybit

07/08/2024

Rybit failed to properly conduct customer risk assessments, confirm customer identities, and retain complete records, among other violations.

AML / KYC

HKMA Expands FINEST Platform to Ten Participating Banks

07/08/2024

HKMA’s Raymond Chan said the proposal to expand FINEST to allow sharing of personal account information received broad support.

Tesla Seeks to Launch Insurance Broking Firm in China

07/08/2024

Tesla has registered a new insurance broking firm in China, but will need approval from the NFRA to formally enter the EV insurance market.