Sanctions

Calls Grow for Sanctions Against Syria to be Lifted

24/12/2024

The UN special envoy to Syria, as well as Turkiye and Qatar, have called for international sanctions on Syria to be quickly lifted.

AML / KYC

Australia Reviews Tax Regulator Secrecy Exceptions

24/12/2024

Feedback is sought on allowing the ATO or TPB to share protected tax information for purposes such as fraud prevention.

Securities / Derivatives

Hong Kong and UAE to Connect Debt Capital Markets

24/12/2024

HKMA and CBUAE aim to “allow seamless and cost-effective cross-border debt securities issuance, trading, investment, settlement as well as collateral management.”

Enforcement

US Regulator Files Lawsuit Targeting Zelle and Three Major Banks

24/12/2024

The CFPB says JPMorgan, BofA and Wells Fargo failed to implement anti-fraud safeguards on Zelle, resulting in $870mn in losses to customers over 7 years.

Enforcement

FMA Says Westpac NZ Admitted to Overcharging 24,000 Customers

24/12/2024

The bank self-reported the issue, fully cooperated with the FMA’s investigation, and provided remediation to impacted customers.

Securities / Derivatives

Bursa Malaysia Amends Listing Rules to Integrate ISSB Standards

24/12/2024

Large issuers must use the ISSB Standards for their sustainability disclosures starting with the 1 January 2025 annual reporting period.

JBA Directs Banks to Conduct Inspections on Safe Deposit Boxes

23/12/2024

The notice to banks, which lists specific examples of inspection items, is a response to the theft of over JPY 1 billion from customers’ safe deposit boxes.

Securities / Derivatives

SEBI Extends Agri-Derivatives Trading Suspension for One Month

23/12/2024

The one-month extension, instead of the three one-year extensions seen since 2021, is viewed as a signal that the suspension might be lifted early next year.

Fintech / Regtech

UnionPay, WeChat Pay Collaborate to Make Payments Easier for Foreigners

23/12/2024

Travellers using any of eight overseas e-wallets including HSBC’s PayMe and Naver Pay can now make payments on the mainland by scanning WeChat QR codes.