Enforcement

CFTC Fines Goldman Sachs for Missing Audio Recordings

30/08/2023

Goldman’s vendor service for recording mobile calls failed during the pandemic. Commissioner Caroline Pham said the penalty is unfair.

Capital / Liquidity

US Proposes New Resolution Planning, Debt Rules for Banks

30/08/2023

Large banks would have to raise their long-term debt issuance by an estimated $70bn and issue more detailed resolution plans.

Sanctions

US, China Open Communication Channels on Export Controls

30/08/2023

US and Chinese officials agreed to establish a new “export control enforcement information exchange” mechanism and a “commercial issues working group”.

Enforcement

FSS Korea Confirms Misconduct Case at Lotte Card Co

30/08/2023

Two Lotte Card employees conspired to help a subcontractor win a deal and then the three shared in the proceeds.

Crypto / Digital Assets

UK Proposes Blanket Ban on Cold Calls for Financial Services

30/08/2023

The ban on cold calling, as proposed, would cover banking, payments, insurance, mortgages, various tangible investments, and cryptoassets.

Fintech / Regtech

Singapore, India Complete First Interoperable eBL Transaction

29/08/2023

Supported by Enterprise Singapore, DBS Bank completed the transaction in partnership with Maptrasco using IMDA’s TradeTrust framework.

Securities / Derivatives

Malaysia SC Further Liberalises Fund Management Industry

29/08/2023

The measures are designed to give high net worth entities and institutional investors access to a wider range of investment options.

Market Infrastructure

Japan Cyber Agency Hit by State-Sponsored Hack – Report

29/08/2023

THe breach initially occurred in October last year. NISC did not spot the problem until June this year and then disclosed it on 4 August.

Taiwan Tightens Telemarketing Rules for Banks

29/08/2023

The new rules will take effect after a nine-month grace period to allow time for banks to make adjustments to their systems and processes.