Enforcement

SFC Secures Court Orders Against Former Company CFO

10/04/2024

The former CFO was ordered to pay compensation of HK$163mn, the full amount that was misappropriated by the former chairman.

Market Infrastructure

NZ FMA to Require Operational Resilience as Licence Condition

09/04/2024

The FMA also launched a new “light-touch” online notification form for licence holders to notify the regulator of material incidents.

Fintech / Regtech

FSC Korea Unveils Plans to Enhance ‘MyData’ Service

05/04/2024

MyData 2.0 will expand data availability, promote usage, boost user convenience and ensure data protection, the FSC said.

AFCA Alarmed by Rising Complaints Regarding Hardship Assistance

04/04/2024

In 2023, AFCA recorded a 25% increase in complaints involving financial difficulty, which includes disputes over hardship assistance.

Enforcement

Hong Kong Insurance Authority Signs Collaboration MoU with HKPF

03/04/2024

The Insurance Authority and Hong Kong Police Force will collaborate on case referrals, joint investigations and capacity building.

ESG / Sustainability

APRA to Conduct Second Climate Risk Management Survey

03/04/2024

APRA will make the survey available to all banking, insurance, and superannuation entities that it supervises, though participation is voluntary.

Enforcement

ACCC Fines HSBC for Disclosing Inaccurate CDR Data

03/04/2024

HSBC failed to disclose complete mortgage interest rate details and accurate credit card balances in response to separate requests for this data made via the CDR.

Capital / Liquidity

Indonesia Formally Ends Pandemic Support Measures

03/04/2024

The OJK said Indonesia’s economy has recovered from the pandemic and banks have strong capital, sufficient liquidity and good risk management.

AML / KYC

FinCEN Considers Changes to CIP Rule to Modernise AML/CFT Regime

02/04/2024

FinCEN is considering changes to requirements for banks to collect a full Social Security number from customers during onboarding.