AML / KYC

Korea to Increase Scrutiny of Money Laundering Risks via Crypto

27/10/2022

The FSC will increase scrutiny of crypto tokens listed by just a single VASP, stablecoin transaction volumes, and customers making large deposits.

Fintech / Regtech

FCA Explores Competition Risks from BigTech in Retail Financial Services

27/10/2022

The consultation focuses on Big Tech firms’ entry and expansion into four retail sectors – payments, deposit taking, consumer credit and insurance.

Market Infrastructure

Refinitiv Launches Prototype Forward-Looking €STR Term Rate

27/10/2022

The prototype rate can be used in testing to prepare for the introduction of robust fallback language in EURIBOR contracts.

Securities / Derivatives

CFTC Grants Exemptions to Three More Singapore RMOs

27/10/2022

The CFTC granted SEF registration exemptions to Bloomberg Tradebook Singapore, SGX FX Markets (BidFX), and Synoption.

AML / KYC

Hong Kong Customs Arrests Two for Laundering HK$3.5bn

27/10/2022

The money was laundered by reselling precious metals. The case is the largest-ever money laundering case for Hong Kong Customs.

Market Infrastructure

BSE India Launches Trading in Electronic Gold Receipts

27/10/2022

Individual investors as well as commercial participants like importers, banks, refiners, and jewellery manufacturers can participate.

Crypto / Digital Assets

BIS Innovation Hub Releases mBridge Report, Sets Out Next Steps

27/10/2022

The mBridge project team will continue working to get to a minimum viable product that can be used by early adopters next year.

Fintech / Regtech

GIFT City, Japan Fintech Body to Cooperate on Innovation

27/10/2022

GIFT City and the Fintech Association of Japan plan to launch a fintech accelerator and other entrepreneurial programmes.

Enforcement

Australian Court Orders ANZ to Pay A$25m Penalty

27/10/2022

ANZ inadvertently failed to provide promised fee and interest rate discounts to customers due to inadequacies within its systems.