Market Infrastructure

Australia Considers 116 Proposals to Reform Privacy Law

19/02/2023

The proposals include increasing individuals privacy rights and imposing additional obligations on organisations in possession of personal data.

ASIC Publishes New Indigenous Financial Services Framework

19/02/2023

ASIC encourages the financial services industry to improve their understanding of First Nations peoples and embed this into their engagement approach.

Capital / Liquidity

India to Establish Backstop Fund for Corporate Debt Market

19/02/2023

SBI Mutual Fund will administer the $4bn fund, which will be 90% funded by the government and 10% by asset managers.

Enforcement

US, UK Sanction Bulgarian Nationals for Corruption Offences

19/02/2023

The UK issued sanctions under its Global Anti-Corruption Sanctions Regime. The US sanctions were imposed under the Magnitsky Act.

AML / KYC

All Crypto ATMs Operating in the UK Are Illegal: FCA

18/02/2023

No crypto ATM operators currently have FCA registration, but the locations of several such machines have been established by authorities.

AML / KYC

Australia to Explore Introduction of SMS Sender ID Register

18/02/2023

The government has asked ACMA to investigate different SMS sender ID register models that can help prevent scams and to report back to the government.

AML / KYC

Trafigura Suffers $577m Fraud Involving Fake Nickel Shipments

17/02/2023

156 containers that were supposed to contain nickel turned out to contain carbon steel, which is worth a fraction of the price.

Korea to Improve System for Requesting Lower Loan Rates

17/02/2023

The right to request a lower loan interest rate was made law but acceptance of such requests in the financial sector has continued to be rare.

Fintech / Regtech

China Trials Platform for Investors to Check Fund Holdings

17/02/2023

A “Fund E Account” platform will provide a “one-stop” service for individual investors to query information about all their holdings in public funds.