AML / KYC

Australia Set to Launch National Anti-Corruption Commission

28/06/2023

The National Anti-Corruption Commission will commence operations on 1 July, with powers to investigate corrupt conduct.

Market Infrastructure

Australia Finalises Review of ASIC Funding Model

28/06/2023

The review recommends that ASIC enhance its reporting, transparency and consultation arrangements on the industry funding model.

AML / KYC

AUSTRAC Issues New Guidance to Address Debanking

28/06/2023

AUSTRAC discourages the “indiscriminate and widespread closure of accounts across entire industries”.

AML / KYC

AUSTRAC Developing New National Risk Assessments

27/06/2023

AUSTRAC to develop national risk assessment on terrorism financing by late 2023, and on money laundering by early 2024.

ESG / Sustainability

Hong Kong Forms New Committee to Advance Green Agenda

27/06/2023

The committee will advance Hong Kong’s green technology and finance ambitions and enhance cooperation with GBA cities.

Capital / Liquidity

APRA Imposes Capital Charge on Medibank Over 2022 Hack

27/06/2023

APRA has decided to increase Medibank’s capital adequacy requirement for operational risk by A$250mn.

Enforcement

Australia: PwC’s Breach of Trust was “Calculated”, Says Senate Committee

27/06/2023

Lawmaker Richard Colbeck has called for a wider probe into PwC, saying the information released to date showed the scandal “extended internationally”.

Hong Kong: Relief Programme for SME Borrowers to End in September

26/06/2023

The principal moratorium arrangement under the SME Financing Guarantee Scheme will be extended three more months and then end.

AML / KYC

Malaysia Threatens Legal Action Over ‘Harmful’ Facebook Content

26/06/2023

Bursa Malaysia has backed the communications regulator’s move to take action against Meta for its failure to remove scam posts.