Supervision & Enforcement

CBIRC Undergoing Internal Restructuring Process – Report

25/08/2022

The CBIRC will form a new Internal Audit Department and merge its Risk Disposal Bureau with its Anti-Crime Bureau.

Conduct, Culture & Accountability

CA ANZ Commences Review of Professional Conduct Framework

25/08/2022

The review will ensure the professional conduct framework for chartered accountants remain robust and in line with best practice.

Capital Adequacy

Vietnam Sets Targets to Improve Banking System Health

25/08/2022

The MOF also aspires to have two to three Vietnamese commercial banks classified as among the top 100 strongest banks in Asia by 2025.

Structural Regulation

New Monitoring Body Concludes First Review of ASIC

25/08/2022

ASIC requires a substantial uplift in its data and technology capability, the FRAA says in its first review of ASIC as a regulator.

Market Abuse

MAS Fines Noble Group Over Misleading Financial Statements

25/08/2022

The S$12.6mn fine is understood to be the largest fine for the publication of misleading financial statements in Singapore’s history.

Anti-Money Laundering

Wolfsberg Group Issues Guidance on Correspondent Banking RFIs

24/08/2022

When used to its “fullest potential”, the RFI process can provide insights into how respondents’ AML/KYC programmes work in practice.

Market Abuse

FCA Fines Citi’s UK Unit Over Trade Surveillance Issues

24/08/2022

The FCA said Citigroup did not properly implement MAR requirements to monitor orders and trades to detect market abuse.

Cryptocurrency

FDIC Orders Crypto Firms to Correct Misrepresentations

24/08/2022

Five crypto firms were ordered to correct false representations stating or suggesting that certain crypto-related products are FDIC-insured.

Cryptocurrency

Korean Police Pilots Crypto Seizures to Settle Unpaid Fines

24/08/2022

The programme was introduced as a way to collect unpaid fines in a contactless way. The amount seized reportedly exceeded all collections made in the last three years.