Market Infrastructure

RBNZ Publishes Results of Data Breach Review by KPMG

31/05/2021

KPMG found that the use of file-sharing app Accellion FTA went beyond the acceptable use specified in the RBNZ’s own guidelines.

ESG / Sustainability

APRA Invites Tenders to Help Model Physical Climate Risk

31/05/2021

APRA is seeking physical climate risk modelling capabilities to support the delivery of climate scenario analysis data to banks participating in the CVA project.

Securities / Derivatives

CSRC Green-lights Launch of Crude Oil, Palm Oil Options

30/05/2021

Crude oil options will launch on 21 June. Palm oil options will launch on 18 June. Both products will be open to foreign investors.

Enforcement

ASIC Files Federal Court Suit Against AMP Companies

30/05/2021

ASIC has taken court action against AMP for charging deceased customers insurance premiums and advice fees. AMP has already remediated the impacted customers.

Enforcement

Philippine Court Jails Broker for Illegal Trading in 1999

30/05/2021

The court’s decision represents the first conviction won by the SEC after two decades of pursuing stockbrokers and investors linked to the case.

Enforcement

CSRC Chongqing Bureau Director Removed for Corruption

29/05/2021

The CCDI and CSRC said corruption and bribery ran throughout Mao Bihua’s career. The case has been referred to prosecutors.

Enforcement

ASIC Files Criminal Charges Against ME Bank

29/05/2021

ME bank made “false or misleading” representations in home loan customer communications and failed to give timely notice of changes to the loan terms.

AML / KYC

HK Bankers Threatened With Jail Under National Security Law

29/05/2021

Letters sent to HSBC and Citibank threaten up to seven years’ jail for any dealings with Hong Kong accounts belonging to media tycoon Jimmy Lai.

Enforcement

FSC Korea Provides No-Action Relief on Consumer Protection Law

29/05/2021

Action will not be taken against violations of regulations introduced or strengthened by the new Financial Consumer Protection Act until 24 September.