AML / KYC

New York State Regulator Penalises Robinhood Crypto Unit

04/08/2022

Robinhood Crypto had inadequate staffing of its AML programme, transaction monitoring deficiencies, and noncompliant cybersecurity policies.

AML / KYC

US SEC Charges 11 Over Crypto Pyramid and Ponzi Scheme

04/08/2022

Forsage investors earned profits by recruiting others into the scheme, which used assets from new investors to pay earlier investors.

Market Infrastructure

ASX: Launch of New CHESS Platform Delayed Until Late 2024

04/08/2022

Accenture to provide an independent review of the new CHESS application and help ASX determine a new launch schedule.

AML / KYC

DBS-led Hackathon to Tackle Fraud Challenges

04/08/2022

More than 100 law enforcers, lawyers, bank staff and other professionals have assembled into teams to brainstorm new solutions to stop scams.

AML / KYC

China Responds to US ‘Treachery’ With Taiwan Trade Curbs

04/08/2022

China has banned imports of citrus fruit, two types of fish, and food items from 107 Taiwanese brands. Exports of natural sand to Taiwan are banned.

Securities / Derivatives

CSRC Vows to Stabilise Markets, Promote Regulatory Reforms

04/08/2022

The CSRC has vowed to stabilise domestic capital markets, among other regulatory priorities for the second half of the year.

Enforcement

Korea FSS Considers Taking Woori Chief to Supreme Court

04/08/2022

The FSS sought to reprimand Sohn Tae-seung, but two courts have now ruled in favour of the Woori Financial Group chairman and CEO.

Enforcement

Taiwan FHC Fined for Leaking Data to Major Shareholder

03/08/2022

China Development Financial Holding Corp was fined TWD 20mn. Its subsidiaries China Life and KGI Securities were fined TWD 6mn and TWD 2.4mn respectively.

Securities / Derivatives

Shanghai STAR Market Celebrates Three Years Since Launch

03/08/2022

The STAR Market now accounts for about 6.6% of all mainland listed firms. A market-making system will soon be launched to enhance liquidity.