Fraud, Scams & Cybercrime

US Indicts Russian Actors Over Crypto Pyramid and Ponzi Scheme

24/02/2023

The charges include one count of conspiracy to commit wire fraud for each of the four defendants, who were among the 11 charged by the SEC last year.

Liquidity Risk

US Regulators Warn of Liquidity Risks Tied to Crypto Assets

24/02/2023

US federal banking regulators highlight key liquidity risks and some effective practices to monitor and appropriately manage those risks. US […]

Supervision & Enforcement

MAS Seeks to Ramp Up Hiring for Enforcement Department

24/02/2023

MAS is also looking into creating a new ombudsman, a market conduct tribunal, a procedure for class-action lawsuits, and an investor compensation scheme.

KYC & CDD

BNM Issues Draft Rules on Using e-KYC Solutions for Onboarding

24/02/2023

BNM encourages the use of e-KYC solutions that leverage AI, machine learning or other forms of predictive algorithms to ensure accurate identification and verification.

Payments & Settlements

FSB, CPMI Seek Nominations for Cross-border Payments Task Forces

24/02/2023

The FSB and CPMI are inviting firms to nominate senior representatives to two separate task forces that will focus on enhancing cross-border payments.

Conduct, Culture & Accountability

MAS Finalises New Corporate Finance Due Diligence Standards

24/02/2023

From 1 October 2023, corporate finance advisers will have to meet new minimum standards when conducting due diligence on transactions.

Market Data & Technology

DSB Announces Launch Dates for UPI Service

24/02/2023

The UPI UAT environment and a client onboarding and support platform will be available from 17 April, and the UPI production environment from 16 October.

Custody & Infrastructure

Deutsche Bank Develops Investment Servicing Platform for Digital Funds

23/02/2023

The platform will make it easier for firms to launch and administer digital investment funds, which may comprise crypto, tokenised securities and other digital assets.

Alternative Markets

China Encourages Establishment of Property-focused PE Funds

22/02/2023

The pilot programme is aimed at boosting liquidity in the property sector. The CSRC is encouraging participation from foreign investors.