AML / KYC

HK Companies Registry Issues AML Guidance for TCSP Licensees

09/05/2023

New guideline seeks to help trust or company service providers devise and implement policies, procedures and controls for AML/CTF.

Market Infrastructure

RBNZ Proposes to Collect More Data on Cyber Incidents

09/05/2023

The RBNZ proposes to introduce mandatory reporting of all material cyber incidents within 72 hours, and periodic reporting of non-material incidents.

Enforcement

Australia: Medibank Faces Four Class Actions Over October Cyberattack

09/05/2023

The Federal Court is expected to consolidate the class actions. Medibank is also facing an investigation from Australia’s privacy regulator.

Sanctions

EU Commission Proposes Sanctions Against Chinese Companies

09/05/2023

The proposals also include sanctions on Iranian companies, measures to restrict sales of certain products to third countries, and powers to ban oil tankers that conceal their location.

Fintech / Regtech

BIS to Test Quantum Resistant IT Environments for Financial System

09/05/2023

“Project Leap” will test the ability of a quantum-resistant algorithm to maintain the confidentiality of payment messages transmitted between Banque de France and Deutsche Bundesbank.

ESG / Sustainability

New Zealand XRB Issues New Guidance on Climate-related Disclosures

08/05/2023

The guidance aims to support entities in preparing climate-related disclosures and to foster consistency through “clarity of understanding”.

ESG / Sustainability

SEBI Enhances Disclosure Requirements for Transition Bonds

08/05/2023

Transition bonds were added to SEBI’s framework for green debt securities in February. The additional disclosures seek to ensure funds raised are not misallocated.

Fintech / Regtech

Indonesia, Malaysia Expand Cross-Border QR Payment Link

08/05/2023

The linkage will provide “faster, cheaper, more transparent and more inclusive cross-border payments”, said Bank Indonesia governor Perry Warjiyo.

Crypto / Digital Assets

US SEC Ordered to Respond to Coinbase Petition Within 10 Days

08/05/2023

The SEC must indicate whether or not it will provide formal rule-making for the digital assets sector, and the reasons for its decision.