AML / KYC

FSC Australia Issues Guidance on Russian Asset Divestment

08/04/2022

The guidance is for superannuation trustees, asset managers investing superannuation capital, and asset managers operating managed schemes with super funds as investors.

Market Infrastructure

Business Model Analysis Can Aid Bank Supervisors: BIS Paper

08/04/2022

BIS says BMAs help identify banks’ vulnerabilities and provide grounds for early supervisory interventions, making bank supervision more effective, proactive and forward-looking.

Enforcement

Singapore Court Upholds Convictions of Russian, Singapore Nationals

08/04/2022

The two men served as resident directors for companies, declaring themselves rather than their Russian clients as the beneficial owners.

Enforcement

Westpac Penalised in Consumer Credit Insurance Mis-selling Case

08/04/2022

Westpac issued consumer credit insurance policies to customers who did not request the product, then asserted a right to payment which customers were not liable for.

Fintech / Regtech

European Commission Launches Targeted Consultation on Digital Euro

07/04/2022

The consultation seeks views on the application of AML/CFT rules, privacy and data protection, and financial stability impacts, among other areas.

Fintech / Regtech

Thai Crypto Firms Required to Issue Transaction Reports to Clients

07/04/2022

From 1 May, crypto businesses have to submit reports to customers within one day after a transaction is complete, allowing them to view records going back 18 months.

Securities / Derivatives

ECB Refuses Energy Traders’ Request for Emergency Liquidity

07/04/2022

The European Federation of Energy Traders had asked for a fund that could provide emergency liquidity support to support the functioning of energy markets.

AML / KYC

Singapore Jails Man for Money Laundering, Email Fraud

07/04/2022

The man received funds in his and his company’s bank accounts that were derived from chearing offences perpetrated overseas and locally.

Capital / Liquidity

EU Banks Seek Easing of Proposed Rules for Third Country Banks

07/04/2022

Banks are reportedly concerned that measures proposed in October will make it harder to access international markets and cross-border services.