Fintech / Regtech

Chinese Bourses Look to Tech to Combat Fraud in Markets

13/03/2023

The SZSE has been testing technology from an analytics firm to detect fraud and vet listings, while the SSE is proposing the use of big data and AI.

Enforcement

FSC Korea Uses Enhanced Penalties Regime for the First Time

13/03/2023

Two firms were fined a combined KRW 5.05 billion (USD 3.9 million) for naked short selling. The names of the firms were not released.

AML / KYC

AUSTRAC Launches Specialist AML Unit for Gambling Sector

13/03/2023

AUSTRAC reportedly warned gambling industry officials it had “identified serious non-compliance in a number of businesses”.

Crypto / Digital Assets

Korea to Creates Fund to Drive Metaverse Related Initiatives

13/03/2023

The government is inviting investment management companies to help operate the Metaverse Fund, offering special performance incentives.

AML / KYC

FATF Finalises Revisions to Recommendation 24 Guidance

13/03/2023

The guidance will assist policymakers and practitioners to prevent bad actors from using shell companies for illicit activity.

AML / KYC

Former Malaysian PM Muhyiddin Charged With Corruption

13/03/2023

Former prime minister Muhyiddin Yassin was charged with four counts of abuse of power and three counts of money laundering.

Enforcement

Australian Court Fines ANZ Over Introducer Programme

13/03/2023

ANZ received sensitive information or documents about borrowers from unlicenced third parties through its introducer programme.

Securities / Derivatives

Australia to Commence Review of Managed Investment Schemes

13/03/2023

The review will consider enhancements to the MIS framework to identify gaps and reduce undue financial risk for investors.

Market Infrastructure

HK to Amend Clearing Rules to Account for IBOR Reforms

13/03/2023

Mandatory clearing will be required for certain OTC transactions referencing ARRs rather than for those referencing IBORs that are being discontinued.