Fintech / Regtech

India in Talks to Extend UPI’s Reach to Gulf Countries 

13/06/2023

India’s NPCI, with support from the RBI, is in talks to establish bank-to-bank transfer systems for cross-border remittances to Bahrain and Saudi Arabia.

Market Infrastructure

ASIC Invites Regulated Entities to Assess Cyber Resilience

13/06/2023

ASIC’s cyber pulse survey will measure entities’ current cyber security and controls, governance arrangements, and incident preparedness.

Securities / Derivatives

CSRC Proposes New Rules for Fund Investment Advisory Industry

13/06/2023

The draft rules seek to strengthen supervision and control of fund investment consulting businesses, and improve services for investors.

Enforcement

Taiwan FSC Raise Cap on Whistleblower Rewards by 25pc

13/06/2023

Whistleblowers can be paid up to TWD 5 million (USD 161,000) for reporting illegality, financial misconduct and fraud.

AML / KYC

JPMorgan Agrees to Settle Epstein Lawsuit for $290m

13/06/2023

JPMorgan will not have to admit liability, but will have to issue a public statement saying it regrets its association with Epstein.

Big Picture

ISLA Warns of Basel III Impacts on Securities Finance Market

13/06/2023

ISLA expresses concerns about the potential adverse impact of Basel III on the global securities lending market.

Enforcement

Former Top PBOC Official Expelled from CCP for Corruption

13/06/2023

Former deputy governor Fan Yifei was found to have accepted banquets, trips, golf outings, gifts, gold, money, and other perks.

AML / KYC

Russian Nationals Charged With Hacking Mt Gox and Operating BTC-e

12/06/2023

The DOJ unsealed charges against two Russian nationals for the 2011 hack of the Mt Gox crypto exchange and for laundering the proceeds.

ESG / Sustainability

APRA Adds Climate Change Risk to New Statement of Intent

12/06/2023

A key update is the explicit inclusion of climate-related financial risks as a consideration for APRA’s duties.