AML / KYC

ASIC Facing Resistance from Banks on Anti-Scam Measures – Report

09/02/2022

ASIC reportedly decided against including scam prevention as part of its ePayments Code review as a result of “fierce pushback” from major banks.

HKMA Further Extends Initiative to Nurture Banking Sector Talent

09/02/2022

The Banking Talent Programme provides fresh grads with short-term work opportunities and professional training, partly subsidised by the HKMA.

Taiwan FSC to Revise Key Threshold Used in Compliance Checks

08/02/2022

The FSC will change a threshold it uses to determine whether to accept a financial institution’s application to start a new business.

Fintech / Regtech

UK Issues Tax Guidance for DeFi Lending & Staking

07/02/2022

CryptoUK says the approach would create an “unnecessary burden” for crypto investors and create tax compliance confusion.

ESG / Sustainability

Japan FSA Forms Subcommittee to Address ESG Data Issues

07/02/2022

The subcommittee was formed to formalise discussions with ESG rating and data providers on addressing issues relating to data quality and reliability.

Enforcement

CBIRC Vows to Continue Efforts to Prevent, Resolve Financial Risks

07/02/2022

The CBIRC said it will dismantle “high-risk shadow banks”, and crack down on illegal financial and fundraising activities, unfair competition, and unlicensed financial businesses.

Securities / Derivatives

Thailand Allows Fractional Trading in Depositary Receipts

07/02/2022

Rule revisions approved by the SEC amend the criteria for depositary receipts linked to overseas underlyings so that they do not have to be traded in whole number units.

Market Infrastructure

Australia: Senate Committee Recommends Quick Passage of CCIV Bill

07/02/2022

The Senate Economics Committee acknowledged “overwhelming support” for the CCIV legislation and recommended it be passed “as soon as practicable”.

Enforcement

US DOJ Probes for Criminal Abuses by Known Short Sellers

07/02/2022

The DOJ is reportedly seeking records from almost 30 investment and research firms to map out their alliances and determine whether they manipulated markets or broke securities laws.