Market Infrastructure

Australia Unveils Plans to Strengthen Rules for Mergers

12/04/2024

The reforms are expected to come into force on 1 January 2026, introducing a mandatory notification requirement for deals above certain thresholds.

AML / KYC

HK Customs Arrests One in Largest Ever Gold Smuggling Case

11/04/2024

The Customs and Excise Department has seized HKD 84 million worth of gold and arrested one person.

Crypto / Digital Assets

ASIC Appeals Court Ruling in ‘Finder Earn’ Crypto Case

11/04/2024

ASIC filed an appeal due to concerns that the Finder Earn product was offered without the appropriate licence or authorisation.

Fintech / Regtech

Philippines: NPLs at Digital Banks Continue to Rise

10/04/2024

Only two of the Philippines’ six digital banks are currently profitable. Yet, while NPLs are rising, deposit growth is still strong.

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.