Enforcement

Woori Bank, Crypto Exchange Under Probe for Money Laundering

29/06/2022

This is the first time that a Korean virtual asset exchange and a bank have been used as channels for money laundering, an official said.

Securities / Derivatives

Chinese Banks Asked to Prepare for Longer Yuan Trading Hours

29/06/2022

Longer trading hours will help meet the rising global demand for yuan transactions, narrow the onshore-offshore spread, and help Chinese investors hedge currency risk.

Securities / Derivatives

HK FRC Explores Joint Audit Inspections with Mainland Authorities

29/06/2022

Hong Kong’s Financial Reporting Council already has 13 cases involving mainland audit work papers, two of which have been concluded.

AML / KYC

Swiss Criminal Court Convicts Credit Suisse for Money Laundering

29/06/2022

The court said Credit Suisse ignored obvious red flags and did not do enough to prevent a crime syndicate from profiting from cocaine trafficking.

Securities / Derivatives

ETFs to Be Included in Stock Connect Starting 4 July

29/06/2022

The relevant rules and operational and regulatory arrangements have been finalised and technical systems have been put in place.

Fintech / Regtech

JPX Launches Real-time Calculation of Key TSE Indices

28/06/2022

The TSE’s prime, standard and growth market indices are being calculated every 15 seconds from 27 June instead of once a day.

Big Picture

WEF Offers Guidance to Policymakers on DAO Structures, Risks

28/06/2022

DAOs may disrupt whole sectors but they also confront challenges of cybersecurity, governance, and regulatory uncertainty, says a new WEF report.

Crypto / Digital Assets

Thai SEC Proposes to Tighten Rules for ICO Portals

28/06/2022

ICO portals cannot provide services for digital token offerings if there is a conflict of interest, such as in situations where they hold shares in the issuer.

Australia Gets New Life Insurance Code of Practice

28/06/2022

The new Life Code takes effect on 1 July 2023, providing the industry with twelve months to transition and make the necessary systems changes.