Enforcement

Australian Court Penalises RI Advice Over Cybersecurity Failures

06/05/2022

The ruling is the first of its kind in Australia, and follows cyber incidents that occurred at authorised representatives of RI Advice between 2014 and 2020.

Fintech / Regtech

J5 Publishes Red Flag Indicators to Address NFT Risks

05/05/2022

Tax enforcement agencies provide a list of account and transaction attributes from NFT marketplaces that may indicate fraud or other illicit activity.

Big Picture

DTCC Calls for Greater Scrutiny of Interconnectedness Risks

05/05/2022

Interconnectedness, while providing benefits, poses certain risks that need to be recognised and analysed to guard against system-wide vulnerabilities, DTCC says.

Securities / Derivatives

BSEC to Encourage Brokerage Firms to Launch IPOs

05/05/2022

Brokerage firms that are allowed to issue IPOs will be able to increase investment flows to the market and enhance their monitoring, BSEC said.

AML / KYC

NYDFS Issues Guidance Recommending Use of Blockchain Analytics

05/05/2022

The guidance emphasises the importance of blockchain analytics in conducting due diligence, transaction monitoring and sanctions screening.

US Fed Announces Biggest Rate Increase Since 2000

05/05/2022

The Federal Reserve has also outlined plans to shrink its USD 9 trillion balance sheet in phases, starting in June.

AML / KYC

European Commission Proposes Complete Ban on Russian Oil

05/05/2022

Three more Russian banks will be removed from SWIFT, three broadcasters will be blocked, and more military officers and individuals will be sanctioned.

Enforcement

US SEC Expands Enforcement Unit Dedicated to Crypto, Cyber

05/05/2022

The additional resources will be used to prioritise investigations related to crypto asset offerings, exchanges, lending and staking products, as well as DeFi platforms, NFTs and stablecoins.

Fintech / Regtech

FSC Korea Issues New Rules for Fractional Investing Services

05/05/2022

The FSC will classify fractional investment products as securities on a case-by-case basis and require issuing firms to adopt investor protection measures.