AML / KYC

Chinese Payments Firms Take Steps to Stop Online Fraud

25/04/2022

Alipay removed more than 170,000 accounts linked to illegal activity, just days after the government issued guidance on combatting internet fraud.

AML / KYC

FSS Korea Launches Probe Over Shinhan Card Frauds

25/04/2022

Shinhan Card is directed to enhance its card issuance and fraud prevention systems, and compensate customers for losses.

Securities / Derivatives

SEBI Issues Operational Guidelines for DLT-based Platform

25/04/2022

The new DLT-based platform is designed to monitor security creation, covenants and asset cover of non-convertible securities.

Securities / Derivatives

China Officially Launches Voluntary Private Pension Scheme

25/04/2022

Employees will be allowed to contribute up to CNY 12,000 annually to individual pension accounts, which can be invested in relatively lower risk and longer-term financial products.

Enforcement

Australian Court Orders Westpac to Pay A$113m in Penalties

25/04/2022

The penalties are the result of six proceedings brought by ASIC in November. Westpac had already agreed to pay the penalties and customer remediation.

Securities / Derivatives

SEHK Adopts New Rules for Bookbuilding, Placing Activities

25/04/2022

The listing rule amendments, due to take effect in August, are a consequence of changes to the Code of Conduct finalised by the SFC in October.

AML / KYC

European Crypto Firms Push Back Against Proposed Regulations

24/04/2022

Crypto firms say requiring them to disclose transaction details and wallet addresses will undermine the privacy and safety of digital asset owners.

Capital / Liquidity

RBI Eases Capital Raising Restrictions for Rural Coop Banks

24/04/2022

Rural cooperative banks can raise capital by issuing preference shares, perpetual debt instruments or long term subordinated bonds.

Enforcement

US Agencies Target MoneyGram Over Delayed Remittances

24/04/2022

The complaint says the delays caused harm to recipients who were waiting for their money that had become “stuck in” or “looped” in MoneyGram’s systems.