Operational Risk

HKMA Outlines Regtech Use Cases for Treasury Operations

21/03/2021

The use cases presented include solutions to detect rogue trading activities, standardise derivatives trading lifecycle events, and enhance liquidity risk monitoring.

Supervision & Enforcement

CBIRC Fines Sichuan Trust Over Illegal Loans, Other Violations

21/03/2021

The CBIRC listed 13 violations for the CNY 34.9 billion fine. A team of officials already took control of Sichuan Trust in December following its failure to repay investors.

Structural Regulation

Malaysia Grants Fee Waivers, Rebates on Listing Related Fees

21/03/2021

Processing fees, prospectus registration fees, initial fees and annual listing fees will be provided to companies seeking a listing, while companies already listed can receive rebates.

Anti-Money Laundering

China: 13 Arrested for Using Crypto to Launder Fraud Proceeds

21/03/2021

The suspects confessed to laundering proceeds from telecoms fraud using Tether, before withdrawing the funds to transfer overseas.

Conduct, Culture & Accountability

ASIC Bans Director, Account Managers at FX Broker

21/03/2021

Clients were pressured to deposit funds into their trading accounts, engage in high-risk trading, and delay or cancel withdrawal requests.

Anti-Money Laundering

FCA Files Criminal Proceedings Against NatWest for AML Failures

19/03/2021

NatWest is facing criminal charges for not adequately monitoring and scrutinising large payments into a corporate client’s accounts.

Supervision & Enforcement

SAFE Fines China Development Bank for Illegally Facilitating HNA Loan

19/03/2021

SAFE imposed a CNY 42.7 million fine on China’s biggest policy bank for illegally guaranteeing a loan to a company linked to HNA Group.

Market Risk

Absence of Term RFRs Could Impair Risk, Forecasting Functions

19/03/2021

Banking functions involving risk analytics and cash flow forecasting will need to change to accommodate risk-free rates, says Karen Moss at Moody’s Analytics.

Market Abuse

New York Court Reinstates SIBOR Manipulation Lawsuit

19/03/2021

The case is being reinstated to allow Fund Liquidation Holdings LLC to pursue claims against 18 banks on behalf of two defunct funds that initially launched the lawsuit.