Enforcement

ICAC Secures Guilty Pleas from Ex-StanChart Bankers Who Defrauded Investors

21/12/2023

Two former Standard Chartered relationship managers pleaded guilty to conspiracy to defraud. Three other defendants will stand trial in July 2024.

HKMA Issues Guidance for Banks on Digital Marketing

21/12/2023

Banks are asked to review their digital marketing activities for general banking products to ensure consumer protections are in place.

Enforcement

HK SFC Issues Warning About More Suspicious VATPs

21/12/2023

The SFC said the police have blocked the two platforms in Hong Kong over suspected fraudulent activities related to virtual assets.

ESG / Sustainability

China Launches ESG Disclosure Guidance for Insurance Industry

21/12/2023

The Insurance Association of China says the guidance will help improve the quality of ESG disclosures in the insurance industry.

Enforcement

Bursa Malaysia Fines Ten Serba Dinamik Directors for Listing Rule Breaches

20/12/2023

Timely and accurate disclosure of financial statements and material information are fundamental obligations of listed companies, Bursa Malaysia said.

Fintech / Regtech

BSP Retains Moratorium on InstaPay and PESONet Fee Increases

20/12/2023

The moratorium will remain in place as the BSP works to eliminate fees entirely for small e-payment transactions.

Securities / Derivatives

CFTC Approves Rule to Allow UPI Use in Swaps Reporting

19/12/2023

The use of the UPI in the reporting of OTC derivatives in the US will start on 29 January 2024.

ESG / Sustainability

ASIC Fines Northern Trust for Alleged Greenwashing

19/12/2023

ASIC said Northern Trust was responsible for its statements, not the third party that incorrectly applied the exclusion screen specified.

AML / KYC

HKMA Fines SVF Licensee TNG for AML Compliance Failures

19/12/2023

The HKMA said TNG had no audit trail from MLRO reviews and did not take appropriate steps to assess whether STRs should be filed.