Enforcement

CBA Fined A$10.3m for Underpaying Employees

20/02/2024

Across Australia, some 7,400 CBA and CommSec employees were underpaid A$16mn from 2015 to 2021.

Sanctions

US Eases Restrictions on DRPK Humanitarian Activities

18/02/2024

NGOs will be able to engage in a broader range of humanitarian-related activities involving North Korea with fewer bureaucratic hurdles.

AML / KYC

NatWest to Claw Back Bonuses from Ex-Staff Over 2021 AML Fine

18/02/2024

Malus, clawback or reduction notices will be applied to ten individuals who were in role when the failures occurred but have since left NatWest.

Capital / Liquidity

Bangladesh Bank Introduces Taka-Dollar Swap System

18/02/2024

The new system is expected to help the central bank rebuild foreign exchange reserves while also easing local currency liquidity stress.

Fintech / Regtech

RBI Defers Effective Date of Paytm Payments Bank Restrictions

18/02/2024

The deferral is to allow customers more time to make alternative arrangements. RBI also released FAQs to clarify the impacts of the restrictions.

ESG / Sustainability

Malaysia Consults on Local Implementation of ISSB Standards

18/02/2024

IFRS S1 and IFRS S2 would be mandatory for Main Market issuers, and potentially ACE Market issuers and large non-listed companies.

Enforcement

Former Goldman Analyst Jailed in the UK for Insider Trading

18/02/2024

Mohammed Zina used sensitive information about deals Goldman was advising on to trade shares in six companies.

AML / KYC

Australia FSC Calls for Threshold Change in ‘Sophisticated Investor’ Test

16/02/2024

The Financial Services Council warns that if the threshold is left unchanged, more than 20% of households would lose important retail investor protections by 2033.

Capital / Liquidity

Philippines Mulls Increase to Deposit Insurance Limit – Report

16/02/2024

The PDIC will consult the BSP on whether an increase in the deposit insurance limit would have to be introduced alongside measures to mitigate moral hazard risks.