APRA Needs to Strengthen Superannuation Regulation: FRAA Review

17/07/2023

The Australian Prudential Regulation Authority (APRA) has welcomed the release of the Financial Regulator Assessment Authority (FRAA)’s review report on its effectiveness and capability in supervising and resolving issues in the superannuation sector.

AML / KYC

FFC Asia 2023: Industry Faces Challenges in Advancing Beneficial Ownership Transparency

14/07/2023

Panellists at Regulation Asia’s Fraud and Financial Crime Asia conference highlighted the need for improved availability and accuracy of beneficial ownership information.

Fintech / Regtech

FFC Asia 2023: Professional AI Skills Needed in Financial Crime Fight

13/07/2023

Panellists at Regulation Asia’s Fraud and Financial Crime conference stressed the need to up-skill financial sector professionals so they can use AI in fighting financial crime.

AML / KYC

EU Central Banks Making Progress in Money Laundering Fight

12/07/2023

The European Banking Authority (EBA) called upon EU central banks and financial regulators to do more to tackle money laundering/terrorist financing risk despite having made tangible progress through prudential supervision.

Securities / Derivatives

Hong Kong SFC Bans Former RaffAello Officer over IPO Sponsor Failures

12/07/2023

The Securities and Futures Commission (SFC) found that a former responsible officer and sponsor principal at a financial advisory firm had “failed to exercise due skill, care and diligence” in handling a listing application.

ESG / Sustainability

New Zealand Seeks to Extend Climate Disclosure Deadlines

11/07/2023

If approved, the exemption would waive the requirement for climate reporting entities to include their climate statements in their annual reports, and instead file them separately within four months of their balance date.

Securities / Derivatives

SEBI Fines Fidelity Unit for Breach of FPI Regulations

10/07/2023

SEBI says Fidelity failed to provide updates on material information and engaged in trading activities without a valid registration as a foreign portfolio investor.

Australia says NFTs Are Not Digital Currencies for GST Purposes

10/07/2023

The Australian Taxation Office clarifies that it does not consider crypto assets such as non-fungible tokens and stablecoins as digital currencies for GST purposes.

Capital / Liquidity

Singapore Revises Tax Incentives for SFOs

07/07/2023

The Monetary Authority of Singapore is looking to encourage single family offices (SFOs) to “deploy their capital more purposefully to benefit Singapore and the region”.