Crypto / Digital Assets

NYAG Files Suit Against Founder of Crypto Lender Celsius

08/01/2023

NYAG says Alex Mashinsky lied about Celsius’s safety, then lost customer funds in risky investments and concealed the firm’s deteriorating financial condition.

Crypto / Digital Assets

US Court Sets October Date for Bankman-Fried Trial

04/01/2023

Bankman-Fried pleaded not guilty to all eight charges against him. The court set a 2 October 2023 date for trial, which is expected to last about four weeks.

Fintech / Regtech

Korea FSC to Revise Rules to Mitigate IT Security Risks

02/01/2023

On-site inspection will be initiated “immediately” in the event that financial services are interrupted for more than three hours due to a computer accident.

AML / KYC

SFC to Collect More Granular Data from Licenced Firms

30/12/2022

Many of the new questions in the SFC’s updated BRMQ focus on AML/CFT practices and brokerage business controls.

Market Infrastructure

SEBI Proposes Regulatory Framework for Index Providers

29/12/2022

Index providers could be subject to SEBI’s framework even if they do not know their indices are being used in India, and even if they are not regulated in their home market.

AML / KYC

FTX, Alameda Execs Plead Guilty to US Fraud Charges

23/12/2022

Caroline Ellison and Gary Wang are cooperating with the investigation into FTX, Alameda and Sam Bankman-Fried, who has been extradited to the US.

Fintech / Regtech

SFC Calls Out Brokers for Slow Implementation of its Data Standards

23/12/2022

Brokers are directed to assign one or more MICs to oversee the implementation of the Data Standards, which was meant to be completed in April 2021.

Market Infrastructure

ASIC Finalises Changes to OTC Derivatives Reporting Rules

22/12/2022

ASIC has consolidated a proposed two-stage process for updating the rules into a single update commencing 21 October 2024.

Fintech / Regtech

HKMA Issues Guidance on Using Digital Platforms to Offer Credit

21/12/2022

With the growing popularity of digital platforms to apply for credit products, banks are “reminded to ensure proper protection of their customers”, the HKMA said.