AML / KYC

Australia: ACCC Report Shows Scam Losses Are Declining

18/03/2024

Report says scam losses in Q4 2023 almost halved compared to the same quarter in 2022, largely due to a sharp decline in investment scams.

Enforcement

Hong Kong ICAC Charges CCB Banker for Taking Bribes

17/03/2024

A former CCB Asia sales executive was charged for taking bribes to expedite the account opening process for six clients.

Market Infrastructure

Hong Kong Considers Scaling Back Severe Weather Trading Plans

15/03/2024

Hong Kong is reportedly considering whether to still keep local markets closed during the most severe weather events to help smaller firms continue operations.

Capital / Liquidity

RBNZ Publishes “Proportionality Framework” for New DTA Regime

15/03/2024

The Proportionality Framework sets out how the RBNZ will categorise deposit takers for the purposes of developing standards.

Fintech / Regtech

HKMA Launches Second Phase of e-HKD Testing

15/03/2024

Phase 2 will focus on programmability, tokenisation and atomic settlement, leveraging the ‘Project Ensemble’ sandbox.

Market Infrastructure

ASX Consults on Two-Stage Approach for CHESS Delivery

15/03/2024

ASX is targeting Q1 2026 for implementation of the first stage of the new CHESS system, and 2028 or 2029 for the second stage.

Crypto / Digital Assets

SFC Issues Warning Against Crypto Products from Bybit

15/03/2024

The warning refers to the Seychelles company Bybit Fintech Limited, and not the HK-incorporated Spark Fintech Limited, which has applied for an SFC licence.

Enforcement

APRA Removes NAB’s Capital Add-On for Operational Risk

14/03/2024

APRA has removed the A$500mn capital add-on it imposed on NAB in 2019 to reflect higher operational risk identified in its risk governance self-assessment.

AML / KYC

HKMA to Establish Regulatory Sandbox for Stablecoin Issuers

13/03/2024

The HKMA will use the sandbox to communicate supervisory expectations and guidance on the issuance of fiat-referenced stablecoins in Hong Kong.