ING Files Suit Against ICBC Over Losses on Copper Deals

24/04/2023

ICBC allegedly released export documents for copper deals without collecting payment, resulting in $170m in losses to ING, which was financing those deals.

ESG / Sustainability

FSB Identifies Growing Use of Climate Metrics in Compensation

24/04/2023

The inclusion of climate-related metrics in compensation frameworks is at an “early, evolutionary stage” and is focused on executive and senior management.

AML / KYC

Malaysia in Talks with China to Secure Jho Low Repatriation

24/04/2023

An arrangement is being “hotly debated” inside the Malaysian government after PM Anwar Ibrahim’s first official trip to China last month.

ACCC Issues Paper Seeks View on Banks’ Rate-setting Practices

24/04/2023

ACCC chair says the inquiry will closely examine how banks make decisions on interest rates and any barriers consumers face in getting a better deal.

Enforcement

19 Year Old Pleads Guilty for Involvement in OCBC Phishing Scams

24/04/2023

The youth is the sixth individual to be convicted among those accused of being involved in phishing scams.

ESG / Sustainability

Singapore, China Deepen Collaboration on Green Finance

24/04/2023

MAS-PBOC green finance taskforce will work on taxonomy interoperability, the sustainability bond market, and digital green bonds.

Enforcement

Singapore Jails Stock Trader for False Trading Offences

23/04/2023

The trader used 14 trading accounts to create a false appearance of active trading in the market for shares in KTL Global.

AML / KYC

ChatGPT Could ‘Turbocharge’ Fraud and Scams: US FTC Chair

23/04/2023

The FTC plans to use existing authorities to pursue companies who misuse AI to violate laws against unfair and deceptive acts.

Market Infrastructure

FSC Korea Seeks Reforms on Performance-based Pay

23/04/2023

The reforms include expanding the use of malus and clawback of deferred pay and requiring disclosures of the amounts paid to individual executives.