Fraud, Scams & Cybercrime

HK ICAC Charges Six Former AXA Employees For Fraud

24/12/2021

The ICAC charged the six former employees with conspiracy to defraud AXA of over HKD 950,000 in commissions and bonuses.

Payments & Settlements

Korea FSC Adjusts Card Processing Fee Rates

24/12/2021

The revised fees will take effect from January 2022 and save businesses almost half a trillion won.

Liquidity Risk

UK Regulator Fines StanChart Over Liquidity Reporting Errors

24/12/2021

The PRA said StanChart’s internal controls and governance arrangements underpinning its regulatory reporting were not implemented or operating effectively.

Structural Regulation

HKMA Moves to Reduce LIBOR-related Reporting Frequency

24/12/2021

The move from monthly reporting back to quarterly reporting means the next reporting position after December 2021 will be March 2022.

Market Abuse

US Authorities Criminally Convict NatWest on Spoofing Charges

24/12/2021

NatWest traders engaged in schemes to defraud in connection with spoof orders designed to profit from manipulation of the US Treasury securities and futures markets, the DOJ said.

Cloud & Infrastructure

HKMA Asks Banks for ‘Active Participation’ in CDI Initiative

23/12/2021

The HKMA is seeking to link the new CDI to the Commercial Credit Rating Agency and Companies Registry to enhance risk management in the banking industry.

Trading & Investment

Taxing Securities Trades Will Reduce Competitiveness, says SET President

23/12/2021

SET president Pakorn Peetathawatchai Pakorn was responding to reports that the government is planning a 0.1 percent tax on securities trades.

Payments & Settlements

Cambodia, Laos to Step Up Cross-Border Cooperation in 2022

23/12/2021

The National Bank of Cambodia and Bank of the Lao PDR will cooperate on payment innovation and cross-border connectivity, among other areas.

Anti-Money Laundering

Regulation Asia: Top 20 News Stories for 2021

23/12/2021

This list presents the most-read new stories published by Regulation Asia in 2021, based on aggregated user traffic analytics.