Capital / Liquidity

APRA Updates Capital Requirements for PPF Providers

21/05/2023

The changes will align APRA’s capital requirements for purchased payment facility providers more closely with its capital framework for other regulated firms.

Crypto / Digital Assets

NYAG Fines Crypto Wallet Provider for Misleading Investors

21/05/2023

Coin Cafe had advertised free wallet storage for Bitcoin, but then routinely charged and increased its fees “without properly informing investors”.

Enforcement

Court Penalises AMP for Charging Fees to Deceased Customers

21/05/2023

ASIC said AMP charged insurance premiums and advice fees to more than 2,000 customers despite being notified that they were deceased.

Securities / Derivatives

HKEX Announces Launch Date for HKD-RMB Dual Counter Model

21/05/2023

The HKD-RMB Dual Counter Model will launch on 19 June 2023. HKEX is now accepting applications for Dual Counter Market Makers.

Securities / Derivatives

WFE Highlights Challenges of Measuring CCP Margin Procyclicality

20/05/2023

The significant uncertainty in measurements means procyclicality mitigation tools can be miscalibrated, inefficient, or detrimental.

Sanctions

Price Cap Policy for Russian Oil is Working: US Treasury Report

20/05/2023

Oil revenues now account for 23 percent of the total Russian budget, compared to 30-35 percent before the war in Ukraine.

Sanctions

Australia Announces Expanded Sanctions Against Russia

19/05/2023

Entities affected include Russian state-owned atomic energy corporation Rosatom, and the country’s largest petroleum and gold companies.

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.