Enforcement

US SEC Probing Funds, Advisers on Staff Messaging Practices

13/10/2022

The SEC’s probe into the use of personal devices and messaging apps has reportedly expanded beyond broker-dealers to include investment funds and advisers.

Crypto / Digital Assets

BNY Mellon Launches Digital Asset Custody Platform

13/10/2022

BNY Mellon is the first systemically important US bank to launch a crypto custody platform, leveraging technology from Fireblocks and Chainalysis.

Securities / Derivatives

US SEC Approves Update to Electronic Recordkeeping Rule

13/10/2022

The amendments add an audit-trail alternative allowing electronic records to be preserved in a way that permits recreation if original records are altered, over-written, or erased.

Fintech / Regtech

IOSCO Offers Guidance on Curbing Online Misconduct

13/10/2022

IOSCO’s new report offers recommendations to address risks from online marketing and distribution of financial products targeting retail investors.

Hong Kong Launches Sustainable Finance Internship Initiative

13/10/2022

A centralised repository has been launched offering information about green and sustainable finance internship openings offered by FIs and other companies.

Enforcement

APRA Orders RACQ to Uplift Risk, Compliance Frameworks

12/10/2022

APRA identified issues with RACQ’s risk and compliance framework and practices, unclear accountabilities, and an “immature risk culture”.

Enforcement

SFC Fines Asset Manager Over European Rule Breaches

12/10/2022

ARCM failed to implement adequate systems and controls to monitor its short position and ensure it was properly reported and disclosed to the public.

ESG / Sustainability

ASIC is Investigating Firms for Possible Greenwashing

12/10/2022

The investigations involve super fund trustees, listed companies and one managed fund. Net-zero claims are a key area facing scrutiny.

Crypto / Digital Assets

Coinbase, Blockchain.com Win In-principle Approval in Singapore

12/10/2022

MAS has granted in-principle approval to Coinbase and Blockchain.com. Currently, nine firms have full licences to offer regulated crypto services in Singapore.