AML / KYC

Seoul Prosecutors Revive Specialised Financial Crime Team

24/05/2022

A joint investigations team that was disbanded in January 2020 has now been reinstated to respond to financial and securities crimes.

RBI to Review Customer Service Standards, Regulations

24/05/2022

The committee will identify ways to enhance customer service standards and grievance redress mechanisms in the financial industry.

AML / KYC

Singapore Police Warns of Banking-related Phishing Scams

24/05/2022

Phishing scams involving the impersonation of bank employees have increased from 149 cases in 2020 to 1,021 cases last year.

Securities / Derivatives

HKEX to Establish First Non-Asia Offices This Year – Report

24/05/2022

New offices in Europe and the US will allow HKEX to provide services and support to international companies seeking to list or invest in Hong Kong.

AML / KYC

US SEC Fines Wells Fargo Advisors $7m for AML Failures

24/05/2022

Wells Fargo Advisors was fined for failing to timely file 34 SARs. This is the second BSA action against the firm in the last five years.

Securities / Derivatives

Malaysia SC, Labuan FSA to Enhance Supervisory Cooperation

24/05/2022

The MOU will enable the SC and FSA to strengthen collaboration in areas such as risk monitoring and promote capital market stability.

Securities / Derivatives

China Stock Exchanges Formally Launch ‘Innovation Bonds’

24/05/2022

The stock exchanges have already been allowing the issuance of ‘innovation bonds’ on a pilot basis. The initiative has now been formally launched.

Big Picture

NGFS Issues Reports on Climate-related Risks and Ratings

24/05/2022

Two new reports shed light on the extent to which climate risks are taken into account by FIs and affect credit ratings.

Securities / Derivatives

ISDA Offers Derivatives Policy Guidance to Emerging Markets

23/05/2022

ISDA’s paper offers a framework for emerging and developing market policymakers seeking to transpose global standards for derivatives markets in local rule sets.