Fintech / Regtech

SFC Consults on Subsidiary Legislation for Paperless Securities

27/03/2023

The subsidiary legislation covers operational and technical matters and the introduction of a more robust regulatory regime for securities registrars.

Market Infrastructure

Australia Hit by New String of Cyber Attacks

27/03/2023

NGS Super, Crown Resorts and Latitude Financial Services have all disclosed this week that they were subject to cyber attacks.

Capital / Liquidity

Bank Exposures to Flood Risk Likely Compounded by Other Risks: RBNZ

27/03/2023

Bank capital ratios are resilient when each flood event is considered in isolation, but flood risk could potentially compound with other risks.

Securities / Derivatives

SFC Waives Annual Licensing Fees for 2023/24 Financial Year

27/03/2023

The annual licensing fees were first waived for the 2020/21 financial year for a one year period, but it has since been extended each year.

Sanctions

OFAC Adds More Belarus Officials to Sanctions List

27/03/2023

The sanctions target Alexander Lukashenko’s presidential aircraft, two major automotive manufacturers, and election officials.

Sanctions

New US Sanctions Target Myanmar Jet Fuel Supplies

27/03/2023

OFAC published an alert explaining the sanctions risks associated with providing jet fuel to Myanmar’s military regime.

Fintech / Regtech

SWIFT Pilots Blockchain Solution to Tackle Corporate Actions Frictions

27/03/2023

The solution demonstrated the potential to reduce manual effort and errors in corporate action processing and deliver operational efficiencies.

AML / KYC

AUSTRAC Issues Guidance on Employee Due Diligence

27/03/2023

Guidance is provided on screening and re-screening employees and contractors for money laundering and terrorism financing risks.

Market Infrastructure

HKEX Finalises New Listing Rules for Specialist Tech Firms

27/03/2023

HKEX has lowered the threshold for specialist tech firms to list on its exchange and made other refinements. The rules take effect from 31 March.