Enforcement

US SEC Probes Use of Text Messaging by Major Banks

23/05/2022

The probe is reportedly aimed at gauging how pervasive the use of unauthorised messaging platforms is for business-related messages.

Securities / Derivatives

Sustainable Exchanges Partnership Increases Emerging Markets Focus

23/05/2022

UN SSE and IFC will work to advance gender equality and support the adoption and implementation of sustainable finance products.

Fintech / Regtech

Singapore Court Issues Injunction Preventing Sale of NFT

23/05/2022

The injunction is said to be the world’s first court-ordered freeze on the potential sale and ownership transfer of an NFT.

Enforcement

MAS Charges Two Insurance Agents for Falsifying Documents

23/05/2022

Two insurance agents of Prudential Assurance Company Singapore provided false information to MAS in relation to an investigation it was pursuing.

AML / KYC

Crypto Firms Launch Scam Reporting Platform: Chainabuse

22/05/2022

Chainabuse is backed by TRM Labs, Solana Foundation, Circle, OpenSea, Binance, The Aave Companies, CIVIC, and Hedera.

Securities / Derivatives

Shanghai Bourse Allows Pledging of Bond ETFs in Repo Trades

22/05/2022

The move is aimed at enhancing liquidity in bond ETF secondary markets by promoting greater participation by institutional investors.

CBIRC Proposes New Rules on Consumer Rights Protection

22/05/2022

The proposed rules prohibit misleading sales, compulsory product bundling, unreasonable charges, and “algorithmic discrimination”.

AML / KYC

Fugitive Former Banker from Bangladesh Arrested in India

22/05/2022

PK Halder has been on the run since 2019 after allegedly defrauding multiple NBFIs in Bangladesh of more than $280,000.

AML / KYC

Australia: FSC Calls for Measures to Stop Online Scam Ads

22/05/2022

The Financial Services Council is calling for the introduction of a mandatory code of conduct for digital platforms like Facebook and Google to prevent financial scams.