Market Abuse

SFC Fines Citigroup Asia Unit for Client Facilitation Misconduct

28/01/2022

Deceptive practices were deployed at the expense of clients’ best interest and to the detriment of market integrity, said SFC chief Ashley Alder.

Market Abuse

US Court Acquits Deutsche Traders in LIBOR Rigging Case

28/01/2022

Former Deutsche Bank traders Matthew Connolly and Gavin Black were convicted in October 2018. Both have now been acquitted.

Trading & Investment

Five More HK Banks Approved to Launch WMC Services

28/01/2022

Chiyu Banking Corporation, Chong Hing Bank, Fubon Bank, Shanghai Commercial Bank, and China Everbright Bank can launch WMC services.

Cryptocurrency

OJK Indonesia Bars FIs From Facilitating Crypto Trading

28/01/2022

OJK warns of market fluctuations and other risks, including the existence of crypto investment Ponzi schemes.

Anti-Money Laundering

Taiwan FSC Identifies Crypto ATMs Breaching AML Rules

28/01/2022

Of 16 companies that have reported their AML compliance to the FSC, 13 will be required to make corrections.

Operational Risk

BSP Implementing “RING” Approach to Protect Financial System

27/01/2022

“RING” stands for Risk management guidelines, Integrity, New technologies, and Governance standards, said BSP governor Benjamin Diokno

Payments & Settlements

Malaysia, Indonesia Launch Cross-border QR Payments Linkage

27/01/2022

The linkage will eventually be expanded to support real-time cross-border fund transfers. The 2nd phase of Malaysia’s QR payment linkage with Thailand has also gone live.

Fraud, Scams & Cybercrime

HK ICAC Charges Three Ex-StanChart Employees For Fraud

27/01/2022

The former relationship managers were among five individuals indicted for conspiring to deceive Japanese investors with false documents.

CBDCs

Bank of Korea to Advance CBDC Testing to Second Phase

26/01/2022

In phase two, BOK will test offline payments, remittances to accounts outside Korea, and the use of its CBDC as payment for NFTs.