Enforcement

Singapore Authorities Probe Crowdfunding Platform for Misconduct

02/02/2021

The probe is looking into possible offences under the Penal Code and the Securities and Futures Act by group companies belonging to CoAssets Ltd.

Fintech / Regtech

NAB Announces Plans to Acquire Australian Neobank 86 400

02/02/2021

NAB commenced discussions about a total acquisition of 86 400 in late 2020, having already owned an 18.3 percent stake in the neobank.

Crypto / Digital Assets

India Set to Introduce Bill Banning Private Cryptocurrencies

01/02/2021

The proposed bill will also provide for the creation of a framework for an official digital currency that will be issued by the RBI.

APRA Releases Policy, Supervision Priorities for 2021

01/02/2021

Priorities include updates to the prudential standards on remuneration, resolution and recovery planning, operational risk, governance and risk management.

Securities / Derivatives

Xiaomi Files Suit Against US Govt Over Investment Ban

01/02/2021

The lawsuit says banning US investors from being able to invest in Xiaomi will “cause immediate and irreparable harm” to the company and hurt its global reputation.

ASIC Governance Review Clears Chairman of Wrongdoing

01/02/2021

James Shipton has temporarily returned to his role as chair, but will step down in the coming months. Treasury will search for a new chairperson.

Enforcement

Former NAB Executive Jailed Over Scheme to Defrauding Bank

01/02/2021

An events company was issuing and sending invoices to NAB and the former executive was receiving bribes to ensure they were paid.

Market Infrastructure

HKMA Drafts Guidance on Operational Continuity in Resolution

01/02/2021

Operational continuity in resolution is a key aspect of resolution planning for individual banks, the HKMA says.

Market Infrastructure

UPDATED – KPMG Appointed to Review RBNZ Data Breach Response

01/02/2021

The review will seek to understand the events leading up to the breach, assess the appropriateness of the RBNZ’s response, and identify factors that contributed to the breach.