Fintech / Regtech

Australia Considers Making CDR Data More Portable

06/05/2021

Under draft rules, accredited businesses would be able to share CDR data with their agents, or sponsor other parties to become accredited.

Capital / Liquidity

RBI Announces Support Measures for Second Covid Wave

05/05/2021

The measures include liquidity for bank lending to businesses, continued regulatory exemptions, and an additional round of restructuring and moratoria flexibility.

Enforcement

ASIC Files Suit Against Westpac for Alleged Insider Trading

05/05/2021

ASIC says Westpac traded interest rate derivatives to pre-position itself while knowing it would be selected to execute a A$12bn interest rate swap hours later.

AML / KYC

US Lawmakers Call for ‘War-like Footing’ Against Corruption

05/05/2021

In a letter to Janet Yellen, two lawmakers have called for AML obligations to be expanded to hedge funds, private equity, and other professional enablers.

AML / KYC

AUSTRAC Orders Mutual Bank to Uplift AML Compliance

05/05/2021

Australian Military Bank is required to conduct a risk assessment, and then work to improve its KYC, transaction monitoring, EDD, and reporting systems.

AML / KYC

Taiwan FSC Fines Nan Shan Life Insurance Over Lax Controls

05/05/2021

The FSC found that 122 sales personnel paid premiums on behalf of clients with their own credit cards to earn rewards points offered by banks.

Enforcement

CBIRC Fines Shanghai Pudong Development Bank For Mis-selling

05/05/2021

The fine comes two weeks after the CBIRC accused the bank of failing to fully disclose the risks of a private placement investment product to investors.

Securities / Derivatives

SEBI Issues Compensation Guidelines for Fund Managers

05/05/2021

20% of compensation of key AMC employees must be paid in the form of units of the mutual fund schemes in which they have a role or oversight.

AML / KYC

OFAC Penalises MoneyGram & SAP for Sanctions Violations

05/05/2021

In both cases, OFAC cited voluntary self-disclosures, the non-egregiousness of the violations, and remedial action as the reasons for the penalty amounts.