AML / KYC

CFTC Commissioner Calls for Creation of National Financial Fraud Registry

12/09/2023

Commissioner Christy Goldsmith Romero says a centralised national financial fraud registry would enable the public to protect themselves from fraudsters.

Australia Passes Bill to Ease Education Burden on Financial Advisers

12/09/2023

The new legislation will allow financial advisers with 10 years’ experience and a clean record stay in the industry.

Crypto / Digital Assets

BSP Announces Key Technology Decision for CBDC Pilot

10/09/2023

Participating financial institutions will test the use of wholesale CBDC technology alongside PhilPaSSplus in a sandbox environment.

Enforcement

ASIC Sues AustralianSuper For Failing to Consolidate Member Accounts

08/09/2023

ASIC alleges that for almost 10 years, AustralianSuper charged fees on unintended multiple accounts, affecting approximately 90,000 members.

ESG / Sustainability

SEC Philippines to Issue Revised Sustainability Reporting Guidelines

08/09/2023

The SEC says the revised guidelines will take into account the IFRS S1 and S2 standards and ensure listed companies report sustainability information consistently.

BSP Engages Saudi Arabia in Push to Develop Islamic Banking Sector

08/09/2023

The BSP has asked Saudi Arabian banks to help promote and develop Islamic banking and finance in the Philippines.

AML / KYC

UK to Designate Wagner Group as Terrorist Organisation

07/09/2023

The draft order to proscribe Wagner Group is expected to pass in Parliament and come into force on 13 September.

Enforcement

ASIC Directs Retail OTC Issuers to Improve DDO Compliance

07/09/2023

ASIC said it will punish issuers of CFDs and other high-risk products for failure to comply with their design and distribution obligations.

Capital / Liquidity

HK Investors Prepare Legal Action Over Credit Suisse AT1 Bonds

07/09/2023

Hong Kong investors will claim the wipeout of Credit Suisse AT1 bonds was at odds with a bilateral investment treaty between Hong Kong and Switzerland.