HK Privacy Commissioner Issues Guidance on Data Breach Handling

13/07/2023

The guidance emphasises the need for organisations to develop comprehensive data breach response and post-incident action plans.

Hong Kong Enacts Amendments to Facilitate Electronic Submissions to Official Receiver

12/07/2023

The focus of the amendments is to facilitate the electronic submission of specific documents to the Official Receiver, allow for electronic proxies, and introduce other improvements.

Fintech / Regtech

NZ’s FMA Issues Proposal to Enhance Industry Operational, Cyber Resilience

12/07/2023

If a licensee experiences a significant disruption, they must promptly notify the FMA no later than 72 hours after the incident.

Capital / Liquidity

HKMA Announces Orderly Exit from Loan Holiday Scheme

12/07/2023

The Pre-approved Principal Payment Holiday Scheme has “fulfilled its purpose and an orderly exit should commence”.

ACCC Launches Inquiry into Data Broker Services

12/07/2023

The inquiry will concentrate on third-party data brokers that gather information from external sources and share or sell it to other organisations.

AML / KYC

Australia: Crown Casinos Ordered to Pay Record Breaking Penalty

12/07/2023

Crown will pay A$125mn now, A$125mn within a year, and the remaining A$200mn within two years for AML/CTF breaches.

ESG / Sustainability

China Issues Rules to Enable Voluntary Emissions Trading

11/07/2023

The proposed rules are expected to pave the way for the relaunch of a national voluntary carbon market.

AML / KYC

India Increasingly Using CNY to Buy Russian Oil

11/07/2023

The relative ease with which Russia can accept yuan payments has led to adoption of the Chinese currency for some 10% of payments.

Capital / Liquidity

China Extends Policy Measures to Support Real Estate Market

11/07/2023

The extension will helpensure financial services are available to support the delivery of completed properties to homebuyers.