Enforcement

ASIC Sues eToro Over Retail Sales of High Risk CFD Products

03/08/2023

ASIC says eToro’s target market was too broad for “such a high-risk and volatile trading product where most clients lose money”.

AML / KYC

ACCC Permits Banks to Collaborate on Anti-Scam Standards

03/08/2023

The ABA and its member banks are permitted to collaborate on the development of cross-industry standards to combat scams.

AFCA Consults on Approach to Responsible Lending Complaints

03/08/2023

Two separate consultations are being released, one on general responsible lending practices and the other on appropriate lending to small businesses.

Enforcement

ASIC Warns of More Enforcements in the ‘Coming Months’

03/08/2023

ASIC said it has embedded new data and analytics capabilities into its insider trading surveillance processes.

APRA Finalises New Requirements on Remuneration Disclosures

02/08/2023

New requirements to disclose information on remuneration frameworks, design, governance and outcomes will take effect from 1 January 2024.

Enforcement

FSS Korea Directs to Foreign Firms to Improve Trading Controls

02/08/2023

The firms erroneously recorded margin trading transactions. One firm also did not properly document reasons for client-directed order amendments.

Securities / Derivatives

HKEX Adds Additional Margin Calculation Flexibility to VaR Platform

02/08/2023

The changes are designed to accommodate the needs of more complex portfolios and allow firms to easily exclude positions that will be settled by end of day.

Enforcement

South Korea Penalises 18 Firms for Short-Selling Violations

01/08/2023

The biggest fines went to QUANTin Asset Management and PFM Asset Management, which were penalised more than a combined KRW 600 million.

Capital / Liquidity

RBNZ, FMA Issue New Standards for Designated FMIs

01/08/2023

The new standards, effective from 1 March 2024, include 28 Standards, accompanying guidance, and a framework for regulating overseas FMIs.