Conduct, Culture & Accountability

Australia Consults on Disciplinary Body for Financial Advisers

11/08/2021

The government is consulting on regulations to support the establishment of the single disciplinary body that will form part of the new regime for financial advisers.

Structural Regulation

CSRC Accepts StanChart Application for Fully-owned China Brokerage

11/08/2021

The CSRC has accepted an application from Standard Chartered Bank Hong Kong to establish a fully owned securities unit in the mainland.

Anti-Money Laundering

RBNZ Issues Formal Warning to Westpac for AML Failures

11/08/2021

Westpac failed to report almost 8000 corporate transactions to overseas recipients between July 2018 and February 2019, the RBNZ said.

Anti-Bribery & Corruption

Former HKEX Exec Pleads Not Guilty to Corruption Charges

11/08/2021

The former co-head of HKEX’s IPO-vetting team, Eugene Yeoh, was arrested in June 2019 for alleged bribery and misconduct in public office.

PEPs & Sanctions

North Korea Continues to Evade Sanctions – Report

10/08/2021

A draft report by a UN panel of experts says North Korea has continued to evade sanctions through open sea ship-to-ship transfers and other means.

Reporting & Disclosures

Japan FSA Seeks Better Quality ESG, Climate Disclosures

10/08/2021

The FSA plans to establish a new framework for the certification of ESG-related products. It is also exploring mandatory climate risk disclosures.

CBDCs

Cambodia Explores Cross-border Transactions Using ‘Bakong’

10/08/2021

Cambodia launched its Bakong digital currency in October 2020. In the first half of 2021, 1.4 million transactions worth $500mn were recorded.

Structural Regulation

Myanmar Central Bank Restricts Foreign Hiring at Banks

10/08/2021

CBM approval is needed to hire foreign employees. Large banks are limited to 25 foreign employees; medium-sized banks to 15; and small banks to 8.

Payments & Settlements

ACCC Consults on Merger of BPAY, eftpos and NPP Australia

10/08/2021

A court enforceable undertaking is proposed to address concerns that the merger could reduce investment and support for eftpos and decrease the availability of least-cost routing.