Enforcement

Singapore Jails Four on False Trading, Deception Convictions

14/07/2023

The four were convicted for their involvement in a scheme to manipulate the price of Catalist-listed Koyo International between 2014 and 2016.

AML / KYC

Malaysia Arrests Former 1MDB Legal Counsel

14/07/2023

Jasmine Loo fled Malaysia in 2018 but is now willing to cooperate with Malaysian authorities on investigations.

Fintech / Regtech

Singapore Digital Banks Urge MAS to Lift Caps on Deposits

14/07/2023

Grab’s GSX Bank and  Sea’s MariBank say the deposit cap imposed on new digital banks is hindering their ability to expand and lend.

Crypto / Digital Assets

HDFC Bank Implements Interoperability between CBDC and UPI

13/07/2023

HDFC Bank customers with UPI IDs can use the QR code at retail shops to transfer funds directly from their CBDC wallets.

AML / KYC

Australian Banks Push Back on Mandatory Scam Reimbursements

13/07/2023

CBA deputy CEO David Cohen warned of a “moral hazard trap”. ANZ CEO Shayne Elliott said the UK voluntary code model wouldn’t stop scams.

AML / KYC

SEC Settles Charges Against Merrill Lynch for Failing to File SARs

13/07/2023

Merrill Lynch did not file hundreds of mandatory SARs because it erroneously used a $25,000 threshold instead of the required $5,000 threshold.

ESG / Sustainability

Majority of SGX-Listed Firms Embrace Climate Reporting Initiatives

13/07/2023

New report shows two-thirds of SGX listed companies have embarked on climate reporting initiatives.

Fintech / Regtech

Cambodia Launches Cross-Institutional Payment System for ATM, POS Services

13/07/2023

The Cambodian Shared Switch aims to enhance payment transactions through payment cards in Cambodia.

Securities / Derivatives

UK Seeks to Undo EU Restrictions on Short-Selling Gilts

13/07/2023

HM Treasury proposes to eliminate EU-mandated rules that govern investors’ short positions in government debt and credit-default swaps.