Australia: Islamic Bank Returns Restricted ADI Licence to APRA

07/03/2024

Islamic Bank was going to be Australia’s first purely Islamic bank but decided to surrender its restricted ADI licence due to capital raising challenges.

ESG / Sustainability

RBNZ Considers Ways to Build Climate Risk into Credit Risk Weights

07/03/2024

When considering any future changes to the approach to setting risk weights, the RBNZ will ensure they are data-driven and explicitly linked to financial risk.

AML / KYC

AUSTRAC Launches AML Probe Into Gambling Company Bet365

07/03/2024

The probe follows a Nov 2022 order from AUSTRAC requiring Bet365 to appoint an external auditor to assess AML/CTF compliance.

Fintech / Regtech

BNM to Upgrade RENTAS, Including to Facilitate CBDC

07/03/2024

BNM’s modernisation plan for RENTAS includes future-proofing the system and enhancing its risk management functionalities.

ESG / Sustainability

Taiwan to Help Eswatini Establish Carbon Exchange

07/03/2024

The TWSE and TCX signed MoUs with the Eswatini Stock Exchange to enhance cooperation including in carbon credit business.

ESG / Sustainability

Philippine SEC Adopts Sustainable Finance Taxonomy

06/03/2024

The SEC said issuers of securities should refer to the taxonomy when making investment decisions or designing sustainable financial products and services.

Crypto / Digital Assets

Montenegro Court Halts Extradition of Terra’s Do Kwon to US

06/03/2024

Do Kwon’s case will be retried because of procedural issues over who between the US and South Korea was first to request his extradition.

Enforcement

SFC, HKEX Jointly Take Action Against GEM-Listed Firm

06/03/2024

Two former directors misappropriated assets by paying an IPO consultant who subsequently rerouted the funds back to the directors.

Market Infrastructure

RBNZ: New Cyber Reporting Rule to Start Next Month

06/03/2024

Regulated entities will be required to report material cyber incidents to the RBNZ within 72 hours starting from 8 April 2024.