Cryptocurrency

Three Firms Apply to Launch Crypto ETFs in Hong Kong

07/12/2022

Three fund managers have submitted applications to the SFC seeking approval to list ETFs in Hong Kong that invest in bitcoin and ether futures.

Anti-Money Laundering

Japan Lawmakers Approve Revisions to Anti Financial Crime Laws

07/12/2022

The revisions will allow Japanese authorities to criminally punish crypto firms that do not comply with the Travel Rule.

Cybersecurity

Malaysia Developing New Technology Risk Management Framework

07/12/2022

The new framework will significantly increase the capital market’s ability to detect and mitigate the risks that come with new technologies, SC chairman said.

Conduct, Culture & Accountability

Swiss Competition Commission Opens Probe Into 34 Banks

07/12/2022

The banks regularly exchanged information about the salaries of certain categories of employees, potentially breaching Switzerland’s antitrust law.

Anti-Money Laundering

International Operation Targeting Money Mules Yields 2,500 Arrests

07/12/2022

The operation involved law enforcement agencies in 25 countries including Singapore and Australia, supported by Europol, Eurojust, INTERPOL and the EBF.

Conduct, Culture & Accountability

ASIC Sues Amex in First Court Case Involving DDO Breaches

07/12/2022

ASIC alleges that American Express Australia breached its design and distribution obligations in relation to two credit cards it issued and co-branded with retailer David Jones.

Trading & Investment

China: First BSE Index Funds Approved But Less Popular Than Expected

07/12/2022

The new index funds have been less popular than expected due to the poor performance of eight BSE-themed funds launched last year.

Emerging Prudential Risks

Chinese, Hong Kong Firms Increasingly Setting Up in Singapore

06/12/2022

Up to 500 Chinese companies are estimated to have set up in Singapore this year. Meanwhile Hong Kong hedge funds are increasingly setting up operations in the city-state.

Market Risk

ISDA Calls for Adjustments to IMA Default Risk Charge Under FRTB

06/12/2022

New paper provides analysis in support of the removal of the 3bp PD floor set by the BCBS under the internal models approach for FRTB.