Enforcement

Hong Kong Court Jails Three Former DBS Bankers

20/08/2023

The DBS employees were convicted for divulging confidential information of over 680 customers to others for touting personal loans.

Chinese Police Urge Investors Not to Protest Investment Losses

20/08/2023

Zhongrong International Trust has defaulted on more than $20bn worth of payments to nearly 30,000 investors in more than 20 wealth management products.

Securities / Derivatives

FSC Korea Outlines Policy Initiatives Planned for H2

20/08/2023

The initiatives focus on restoring investor trust, strengthening capital market structure, and ensuring financial stability.

Fintech / Regtech

Bangladesh Bank Receives 52 Digital Bank Licence Applications

20/08/2023

The number of applications substantially exceeds projections by Bangladesh Bank, which initially intends to only grant two or three licences

Evergrande Files for Bankruptcy Protection in New York Court

20/08/2023

The Chapter 15 filing is intended to protect Evergrandes US assets while it works to secure approval from creditors for an offshore debt restructuring plan.

Fintech / Regtech

BSP Unveils Timeline for New International Transaction Reporting System

18/08/2023

A soft launch of the new data collection system will be in January 2024. Full implementation is set for April 2024.

Fintech / Regtech

ASX Issues Response Plan to Ensure Delivery of CHESS Replacement

18/08/2023

ASX confirms its intention to have implemented all 45 recommendations from an external review by June 2024.

AML / KYC

Bangladesh’s Sonali Bank Freezes Accounts of Myanmar State Banks

18/08/2023

The move was made in response to direct requests from US authorities, who sanctioned two of Myanmar’s state-owned banks in June.

AML / KYC

Taiwan Sentences Corrupt Official to 8 Years in Prison

18/08/2023

The official committed property fraud, document forgery, money laundering, and accepted bribes in the form of cash, banquets and sexual entertainment.