AML / KYC

Singapore: 1st Phase of Financial Services and Markets Act Commences

01/05/2023

The first phase covers general powers over FIs, powers regarding AML/CTF, and dispute resolution schemes.

Fintech / Regtech

ASX Issues Update on CHESS Replacement Partnership Programme

01/05/2023

Under the A$70mn Partnership Programme, ASX will offer payouts to stakeholders to support their efforts in meeting project milestones.

Securities / Derivatives

Korea Exchange to Jointly Develop Indices With Cboe

01/05/2023

Cboe Global Indices and KRX will publish advanced strategic indices based on Korean derivatives, including KOSPI 200 options.

AML / KYC

CFTC Issues Largest Ever Civil Monetary Penalty

30/04/2023

The CFTC ordered the operator of a fraudulent multilevel marketing scheme to pay a $1.7bn penalty and a further $1.7bn in restitution.

AML / KYC

China Establishes Nationwide Property Registration System

30/04/2023

The new registration system will provide regulators full transparent view of real estate ownership and support their efforts to prevent systemic risks.

Fintech / Regtech

US Agencies Pledge to Combat Harmful Uses of AI

30/04/2023

Four agencies reaffirmed their commitment to “vigorously enforce their collective authorities and to monitor the development and use of automated systems.”

Securities / Derivatives

BSP Streamlines and Expands Currency Hedging Facility

30/04/2023

The BSP approved amendments to make it easier for clients of large banks to hedge peso-US dollar exposures through NDFs.

Securities / Derivatives

China Outlines Plan for Shifting Enterprise Bond Oversight to CSRC

30/04/2023

Enterprise bonds, mainly issued by large state-owned enterprises, have to date been subject to oversight and supervision by the NDRC.

Enforcement

Korean Authorities Probe Manipulation in Eight Stocks

30/04/2023

Prosecutors have issued travel bans on ten individuals who are suspected of engaging in stock price manipulation activities.