Structural Regulation

Philippines to Merge Two Large State Lenders

30/03/2023

The merger of LandBank and the Development Bank of the Philippines will create the country’s largest lender by assets.

Structural Regulation

Vanguard Issued Warning in NZ for Late Disclosure of ASIC Action

30/03/2023

Vanguard took 55 business days to file a notice on New Zealand’s register about ASIC’s enforcement action. The requirement is 5 business days.

Cryptocurrency

HKMA, SFC to Host Discussions Between Crypto Firms & Banks

30/03/2023

A roundtable will take place on 28 April at the HKMA to facilitate dialogue and experience sharing regarding opening and maintaining bank accounts.

Fraud, Scams & Cybercrime

Five Banks Searched in French Tax Fraud Probe

29/03/2023

Four major French banks and a foreign bank were targeted by simultaneous searches related to the so-called “Cum-Ex” tax scandal.

Anti-Money Laundering

JPMorgan’s Dimon to Give Sworn Deposition for Epstein Lawsuits

29/03/2023

Last week, a judge ruled that JPMorgan Chase and Deutsche Bank must both face sex trafficking lawsuits related to the late Jeffrey Epstein.

Cryptocurrency

Australia: Senator Introduces New Crypto Regulation Bill

29/03/2023

Senator Andrew Bragg said Australia’s crypto regulation has stalled and the government’s “token mapping” consultation programme is too slow.

Structural Regulation

New Roadmap Proposed to Boost Financial Inclusion in Trade

29/03/2023

The Roadmap identifies areas where coordinated action can make a significant impact, including through accelerated LEI adoption.

Fraud, Scams & Cybercrime

Malaysian Court Jails Former Hong Leong Investment Banker

29/03/2023

The former investment banker convinced investors to invest over $390,000 in securities products that did not exist.

Structural Regulation

AllianzGI Applies to Open New Fund Business in China

29/03/2023

Allianz already owns 49 percent of a China joint venture. The new licence, if granted, will help it boost its presence in China’s mutual fund market.