AML / KYC

FATF President Calls on G7 to Act on Crypto Assets

19/05/2023

T Raja Kumar called on the G7 to “lead by example” in fully and effectively implementing the FATF Recommendations on crypto assets.

Big Picture

BSP Addresses GCash Service Disruption, Unauthorised Transactions

19/05/2023

Phishing attacks where users shared their OTPs with scammers were the root cause behind unauthorised transactions at GCash.

Fintech / Regtech

34 FIs Have Joined Swift Service for Addressing Settlement Fails

19/05/2023

The service leverages the UTI to link all Swift messages related to the same securities settlement flow in a transaction chain.

Fintech / Regtech

Korea Establishes Taskforce to Improve Data Regulations

19/05/2023

The taskforce was established to lay the groundwork for promoting “data-driven innovation” in the financial industry.

Market Infrastructure

China Inaugurates New National Financial Regulator

19/05/2023

The NFRA absorbs the CBIRC in its entirety, and takes over certain functions from the PBOC and CSRC.

Crypto / Digital Assets

NY Fed, MAS Publish Results from Cross-Border Payments Study

19/05/2023

Each simulated payment scenario achieved end-to-end settlement in under thirty seconds on average using wholesale CBDCs.

Securities / Derivatives

SEBI to Tweak Definitiion of ‘Unpublished Price Sensitive Information’

19/05/2023

SEBI’s amendments aim to improve transparency in the capital market and ensure timely and accurate disclosure of material events or information by listed entities.

Enforcement

Deutsche Bank to Settle Jeffrey Epstein Lawsuit for $75m

19/05/2023

The lawsuit brought by an unnamed woman in November claimed Deutsche Bank missed red flags in Epstein’s accounts and chose profit over following the law.

Crypto / Digital Assets

HKMA Launches e-HKD Pilot Programme With 16 Firms

19/05/2023

HSBC, StanChart, BOCHK, CCB, ICBC, Hang Seng Bank, Alipay, Ripple, Visa, Mastercard and ZA Bank are among those involved in HKMA’s pilot.