Enforcement

Australian Court Fines ME Bank for Misleading Home Loan Customers

19/01/2024

ME Bank sent inaccurate home loan information to its customers and failed to provide written notice about annual interest rate and repayment amount changes.

Enforcement

Korea Strengthens Mechanism for Punishing Unfair Trading

19/01/2024

The revisions introduce a new penalty surcharge system for unfair trading activities and establish a clear legal ground for calculating unfairly gained profits.

Securities / Derivatives

China Grants More Foreign Banks Lead Underwriter Licence

19/01/2024

Credit Agricole, HSBC and StanChart can be lead underwriters of yuan debt issues by domestic and foreign borrowers.

Crypto / Digital Assets

Spot Bitcoin ETFs Not Suitable for Singapore Retail Investors: MAS

19/01/2024

Those who choose to trade spot Bitcoin ETFs in overseas markets must exercise extreme caution, MAS said.

Sanctions

OFAC Sanctions 18 Tankers for Russian Oil Price Cap Violations

19/01/2024

UAE based shipping company Hennesea and 18 of its vessels are subject to restrictions for transporting Russian crude at prices higher than the price cap.

Crypto / Digital Assets

Thai SEC Updates Crypto Rules on Retail Access, Custody, Advertising

18/01/2024

The updates remove some restrictions on retail investors, support the creation of custodial wallet provider businesses, and reduce the documentary burden presented by advertising rules.

Fintech / Regtech

Australia to Establish Risk-based Guardrails for AI Development

18/01/2024

The government will establish mandatory guardrails to promote the safe design, development and deployment of AI systems.

Fintech / Regtech

Taiwan Advances to Third Phase of Open Banking

18/01/2024

The third phase of open banking covers transactions involving deposits, credit cards, loans, payments and mobile phones.

Sanctions

US Sanctions Prompt China Banks to Review Russia Business

18/01/2024

The threat of secondary sanctions has prompted Chinese state-owned banks to review their Russian business and sever ties with clients on the sanctions list.