AML / KYC

US SEC Penalises Oracle for FCPA Violations by Foreign Subsidiaries

30/09/2022

Oracle subsidiaries in Turkey, the UAE, and India used slush funds to bribe foreign officials in return for business between 2016 and 2019.

Crypto / Digital Assets

BIS Innovation Hub Nordic Centre Launches Retail CBDC Project

30/09/2022

The central banks of Israel, Norway and Sweden will develop a “hub” to which they will connect their domestic proof-of-concept CBDC systems.

Fintech / Regtech

Australia Proposes Framework to Enable CDR ‘Action Initiation’

30/09/2022

Consumers would be able to instruct businesses to make payments, open and close accounts, switch providers, and update personal details on their behalf.

Securities / Derivatives

FMSB, ASIC Agree to Jointly Promote Financial Market Integrity

29/09/2022

The FMSB will consult with ASIC on its annual strategy refresh and provide details about forthcoming drafts of proposed standards, statements of good practice and other publications.

Enforcement

SFC Suspends Hedge Fund Manager for Two Years

29/09/2022

The hedge fund manager used non-public information from a market sounding call to trade short swaps on a KRX-listed stock.

Securities / Derivatives

Korea Takes Emergency Measures to Stabilise Markets, Currency

29/09/2022

MOEF and BOK are buying government bonds to lower yields, and the FSC is preparing to reactivate a stock market stabilisation fund created during the Covid-19 pandemic.

AML / KYC

Japan to Adopt Travel Rule in Crypto in May 2023 – Report

29/09/2022

The FSA plans to submit amendments to the Act on Prevention of Transfer of Criminal Proceeds to a parliamentary session next week.

ESG / Sustainability

SGX Lists First Low Carbon Index ETF Dedicated to APAC

29/09/2022

The ETF reflects the performance of nearly 200 large and mid-cap companies with low carbon characteristics in 11 markets in Asia Pacific.

Enforcement

SEC, CFTC Fine 16 Firms Over Use of Personal Devices, Chat Messaging

29/09/2022

The 16 firms agreed to pay a combined $1.82bn for failing to preserve staff communications on personal mobile devices, messaging apps and emails.