Capital / Liquidity

Korea Propose Measures to Address Risks in Mutual Finance Sector

04/04/2023

Regulators proposed to raise the loan loss reserve requirement for lending to real estate and construction firms to boost loss-absorbing capacity.

AML / KYC

Australia Introduces AML/CTF Amendment Bill to Parliament

04/04/2023

The amendments will strengthen and modernise aspects of Australia’s AML/CTF regime, and assist AUSTRAC in fulfilling its functions.

ACCC Undecided About Authorising ANZ-Suncorp Merger

04/04/2023

The ACCC is calling for further submissions from industry and consumers on how the proposed acquisition may impact competition.

Enforcement

US SEC Fines Merrill Lynch for FX Fee Disclosure Failures

04/04/2023

Merrill Lynch agreed to pay disgorgement, prejudgment interest, and a civil penalty totaling more than $9.5mn and to distribute funds to harmed clients.

Capital / Liquidity

US Lawmakers Propose ‘Failed Bank Executives Clawback Act’

04/04/2023

The proposed bill would require the FDIC to claw back “all or part” of the compensation paid to executives in the five years preceding a bank’s failure.

Fintech / Regtech

Digital Vote Execution Service to Launch for Tokyo Market

04/04/2023

Issuers, investors and local sub custodians will gain efficiency and greater transparency from the new digitised e-voting service.

ESG / Sustainability

ICVCM Publishes Standards for Carbon Credit Certifiers

04/04/2023

The first batch of carbon offsets carrying ICVCM’s stamp of approval is expected to be available by year-end.

AML / KYC

KoFIU Shares Findings from On-site Inspections at VASPs

04/04/2023

KoFIU issued reprimands, cautions and KRW 490 million in fines against five crypto exchanges, executives and employees.

APRA Reviews Data Collection on Access to Bank Branches

04/04/2023

The review is aimed at identifying ways APRA’s Points of Presence data collection can better capture indicators on how banking services are accessed.