Fintech / Regtech

HKMA Launches Fintech Training Subsidy Scheme

26/09/2022

The scheme will provide training subsidies to around 1,500 industry practitioners who have attained professional qualifications in fintech.

BOE, FCA to Consult on Removing Banker Bonus Cap

26/09/2022

The cap, which limits bonuses to twice basic salary, was introduced in the EU in 2014 to curb excessive risk-taking.

AML / KYC

AUSTRAC Releases Risk Assessment of Bullion Sector

26/09/2022

Personal income tax evasion was the most common suspected offence, linked to 52% of SMRs, though the associated values were low.

Capital / Liquidity

HKMA Amends Interest Rate Stress Testing Requirement

26/09/2022

Banks must stress test mortgage borrowers’ debt servicing ability assuming a 200 bps rise in the mortgage rate, rather than 300 bps.

AML / KYC

UK Introduces Economic Crime Bill to Parliament

26/09/2022

The Bill targets beneficial ownership transparency and will also make it easier for law enforcement to seize and recover cryptoassets.

Securities / Derivatives

Tokyo Bourse Issues Guidance on Making English Disclosures

26/09/2022

The TSE says the disclosure of corporate information in English is becoming increasingly important to attract foreign investment.

AML / KYC

India: ICAI Probes 200 Accountants Over Shell Company Setups

26/09/2022

Around 200 chartered accountants are subject to a probe involving shell companies established in India by Chinese firms.

ESG / Sustainability

US Banks Threaten to Quit GFANZ Over Legal Risks

26/09/2022

JPMorgan, BofA and Morgan Stanley are concerned about being sued over increasingly stringent decarbonisation commitments.

Fintech / Regtech

SEBI to Tighten Rules on Algo Trading Offered to Retail

26/09/2022

SEBI will scrutinise firms offering algorithmic trading services that claim high returns but cannot be audited or validated.