Enforcement

SFC Refers Ding Yi Feng Case to Misconduct Tribunal

29/03/2024

The new proceedings are in addition to separate court action that seeks to restore counterparties affected by alleged manipulation of Ding Yi Feng shares.

Market Infrastructure

Enhanced SMP Service for Derivatives to Launch in June: HKEX

28/03/2024

Enhanced SMP features will be available for testing from 2 April. Optional readiness test will be held on 15 June ahead of the launch.

AML / KYC

Westpac Unveils “First of its Kind” Anti Scam Service

28/03/2024

The AI-powered service will ask customers to answer a “series of dynamic questions” if a new payment appears to have high scam risk.

ESG / Sustainability

Australia Tables Bill to Introduce Climate Disclosures, Strengthen FMI Regime

28/03/2024

The legislation will implement new mandatory climate reporting requirements and strengthen regulatory arrangements for FMIs.

Enforcement

Visa, Mastercard to Settle 2005 Antitrust Case for $30b

28/03/2024

The settlement, which is subject to court approval, will also give merchants more negotiating power and enable more competitive pricing.

AML / KYC

Advice Industry Seeks Clarity on AUSTRAC Outsourcing Guidance

28/03/2024

The Financial Advice Association Australia calls on AUSTRAC to provide clear definitions of outsourcing versus reliance arrangements.

ESG / Sustainability

HKMA Urges Banks to Utilise GHG Reporting Tools

27/03/2024

The HKMA called on banks to make use of the two new GHG reporting tools launched by the Cross-Agency Steering Group last month.

Enforcement

ASIC Takes First Action for Failure to Obtain Director ID

26/03/2024

Under 2021 reforms, all directors are required to verify their identities with Australian Business Registry Services and obtain a director ID.

Enforcement

ANZ Agrees to Settle 2021 Credit Cards Class Action

26/03/2024

ANZ has agreed to pay A$57.5mn to settle a class action lawsuit brought by Phi Finney McDonald, subject to court approval.