KYC & CDD

Deutsche Bank to Settle US Shareholder Lawsuit for $26m

27/09/2022

Shareholders said Deutsche Bank made false statements about its KYC and AML processes and caused losses to investors when its client list was made public.

Reporting & Disclosures

Bursa Malaysia Updates Sustainability Reporting Framework

27/09/2022

By 2025, all Main Market listed issuers will be reporting TCFD-aligned disclosures and internalising climate change considerations in their business strategies.

CBDCs

RBA to Commence CBDC Pilot Tests Early Next Year

26/09/2022

The CBDC will be called eAUD. Industry participants are invited to propose CBDC use cases, and to participate in testing. Expressions of interest are due by 31 October.

Cloud & Infrastructure

HKMA Launches Fintech Training Subsidy Scheme

26/09/2022

The scheme will provide training subsidies to around 1,500 industry practitioners who have attained professional qualifications in fintech.

Conduct, Culture & Accountability

BOE, FCA to Consult on Removing Banker Bonus Cap

26/09/2022

The cap, which limits bonuses to twice basic salary, was introduced in the EU in 2014 to curb excessive risk-taking.

Anti-Money Laundering

AUSTRAC Releases Risk Assessment of Bullion Sector

26/09/2022

Personal income tax evasion was the most common suspected offence, linked to 52% of SMRs, though the associated values were low.

Credit Risk

HKMA Amends Interest Rate Stress Testing Requirement

26/09/2022

Banks must stress test mortgage borrowers’ debt servicing ability assuming a 200 bps rise in the mortgage rate, rather than 300 bps.

Anti-Money Laundering

UK Introduces Economic Crime Bill to Parliament

26/09/2022

The Bill targets beneficial ownership transparency and will also make it easier for law enforcement to seize and recover cryptoassets.

Structural Regulation

Tokyo Bourse Issues Guidance on Making English Disclosures

26/09/2022

The TSE says the disclosure of corporate information in English is becoming increasingly important to attract foreign investment.