AML / KYC

Wolfsberg Group Issues Payment Transparency Roles & Responsibilities Guidance

23/12/2024

The guidance aims to help PSPs, regulators, and standard-setters understand their respective obligations in ensuring payment transparency.

Sanctions

China Responds to Canadian Sanctions with Countermeasures

23/12/2024

The measures target two institutions and 20 individuals, responding to Canadian sanctions against several Chinese officials.

Enforcement

Bank Indonesia Under Investigation by Anti Corruption Agency

23/12/2024

KPK searched several rooms at Bank Indonesia including the governor’s office. A search operation was also conducted at OJK.

AML / KYC

FMA Launches Legal Action Against InvestNow for Breaching AML Rules

22/12/2024

The FMA said it considers failures by retail investment platform InvestNow to be “significant and, in some respects, systemic.”

Fintech / Regtech

Australia Proposes to Mandate Cash Acceptance for Essential Items

22/12/2024

Australia’s Treasury proposes to require certain types of businesses to accept cash, with potential limits on the mandate such as transaction caps or time limits.

Enforcement

RBI Removes Business Restrictions on Two Edelweiss Group Firms

22/12/2024

The RBI is satisfied that adequate remedial measures have been put in place at the two entities to address its earlier supervisory concerns.

Market Infrastructure

Korea Advances Bill to Open Up Corporate Credit Rating Market

22/12/2024

The government approved a revision bill that will abolish a requirement for licensed corporate credit rating providers to be at least 50 percent owned by financial institutions.

Market Infrastructure

China Finalises New Regulations for Foreign Accounting Firms

22/12/2024

The regulations allow foreign accounting firms that need to conduct “temporary activities” in China to do so without establishing a representative office, subject to conditions.

Securities / Derivatives

HK Government Asked to Explain ‘Sluggish’ Sales of Retail Infrastructure Bond

22/12/2024

Hong Kong officials Christopher Hui and Paul Chan both attributed the undersubscription to a wider range of attractive investment options in the market.