Enforcement

Taiwan: FSC Fines Taichung Bank Following Arrest of Chairman

03/02/2024

The bank’s chairman was detained for allegedly embezzling TWD 1 billion and later released on bail, with restrictions.

Securities / Derivatives

US Fed Tightens Policy on Personal Investments by Staff

02/02/2024

Under the new policy, staff can be directed to submit brokerage and transaction statements to verify financial disclosure accuracy.

Market Infrastructure

Pakistan Introduces Electronic Platform for Interbank FX Trades

02/02/2024

The platform provides real time price visibility and features a new electronic matching system for interbank FX trades.

Market Infrastructure

EU Agrees on New Listing Act, Multiple-Vote Share Structures

02/02/2024

The Listing Act will make it cheaper and easier for companies to list. Multiple-vote share structures will ensure founders retain sufficient control after listing.

AML / KYC

Binance Faces Lawsuit from Hamas Victims for Facilitating Terrorism

02/02/2024

The lawsuit, which alleges that Binance enabled Hamas to finance the 7 October attacks, also names Iran and Syria as defendants.

AML / KYC

SkyCity Agrees to Pay More Than A$70m for AML Breaches

02/02/2024

AUSTRAC launched civil penalty proceedings against SkyCity Adelaide in December 2022. The casino operator just raised its provision for the potential penalty.

Securities / Derivatives

ASIC Issues New Guidance on Pre-Hedging Practices

02/02/2024

If not carried out in an appropriate manner, pre-hedging can be unfair, unconscionable and result in poor client outcomes, ASIC said.

Sanctions

Australia, UK Join US in Imposing New Myanmar Sanctions

02/02/2024

The sanctions come three years after the military coup in Myanmar. Australia and the UK targeted a combined nine entities.

Fintech / Regtech

Taiwan QR Mobile Payment Service Now Available in Korea

01/02/2024

Taiwan travelers with electronic wallets linked to any of 13 financial institutions can pay South Korean merchants by scanning their TWQR code.