Enforcement

MAS Imposes Lifetime Ban on Former Goldman Exec Roger Ng

05/09/2023

Roger Ng is banned from regulated activities in Singapore for life, due to his role in the theft of billions of dollars from 1MDB.

AML / KYC

India Ministry Gazettes Enhancements to AML/CFT Rules

05/09/2023

The amendments lower the shareholding threshold for company partners to be considered beneficial owners, from 15 percent to 10 percent

China NDRC Establishes Private Economy Development Bureau

05/09/2023

The NDRC is also encouraging big banks to consider financing private projects and pushing for the establishment of private sector infrastructure REITs.

Crypto / Digital Assets

LSEG to Push Forward Plans to Develop Digital Markets Business

05/09/2023

LSEG has been exploring a possible blockchain-powered trading venue for about a year and has now reached an “inflection point”.

Fintech / Regtech

China Enhances Monitoring of Programme Trading in Stock Market

05/09/2023

The enhanced monitoring programme seeks to address concerns over rising algorithmic trade-driven market volatility.

Hong Kong Launches Loan Guarantee Scheme for Electric Taxis

05/09/2023

Fully guaranteed loans are being provided to taxi owners to encourage them to replace their LPG, petrol or hybrid taxis with electric taxis

Germany’s BaFin Suffering DDoS Attack Since Friday

04/09/2023

BaFin apologised for the inconvenience and said it is working “intensively” to restore full access to its website.

Crypto / Digital Assets

Japan FSA Asks Government to Review Crypto Tax Policy

04/09/2023

The FSA is seeking a review of the existing requirement for companies to pay tax on unrealised crypto gains.

Enforcement

ASIC Sues Westpac for Financial Hardship Misconduct

04/09/2023

ASIC said Westpac’s deficient process resulted in 229 customers not receiving a response to their hardship notice within the required 21 days.