Big Picture

Addressing Fraud Risk Requires Multi-Pronged Approach – Report

29/08/2022

NICE Actimize and Regulation Asia have published a new white paper exploring the banking industry’s response to fraud and online scams in APAC.

Fintech / Regtech

Australia Consults on CDR Expansion to Non Bank Lending

29/08/2022

A report from Treasury says information about non-bank lending products as well as customer information should be subject to CDR data-sharing obligations.

ESG / Sustainability

Japan Publishes Results of Climate Scenario Analysis Exercise

29/08/2022

The results highlight a need for banks to use common assumptions within their models, refine their analysis of individual companies, and enhance their methodologies.

Crypto / Digital Assets

MAS Seeking Granular Business Activity Info From Crypto Firms

29/08/2022

The exercise is reportedly aimed at gathering information from crypto-related firms in Singapore ahead of planned regulatory changes for the sector.

Enforcement

HKMA Fines Commerzbank for CDD & PEP Screening Failures

29/08/2022

The HKMA found control lapses in onboarding due diligence as well as ineffective procedures for determining whether beneficial owners were PEPs.

China’s SAFE Warns Banks Against Aggressive Yuan Selling – Report

29/08/2022

SAFE reportedly phoned several banks last week to warn them against aggressively selling the yuan, which has recently hit a 2-year low against the dollar.

Australia to Simply Corporations and Financial Services Law

28/08/2022

Legislative amendments released for consultation are based on recommendations issued by the Australian Law Reform Commission late last year.

Securities / Derivatives

ICE to Launch UK Carbon Allowance Options in October

28/08/2022

UK Carbon Options will provide a new tool for managing carbon emissions price risk, building upon the launch of UK carbon allowance futures in May 2021.

AML / KYC

US Lawmaker Seeks Clarity on Tornado Cash Sanctions

28/08/2022

US Congressman Tom Emmer says the designations against Tornado Cash wallet addresses are a “divergence from previous OFAC precedent”.