AML / KYC

RBI Updates Master Direction on KYC for Wire Transfers

05/05/2023

The revised master directions highlight the need for all wire transfers to be accompanied by accurate and complete originator and beneficiary information.

ASIC Uncovers Widespread Noncompliance With DDO Rules

04/05/2023

ASIC deputy chair Karen Chester said closer scrutiny of how product issuers are meeting their design and distribution obligations is coming.

Market Infrastructure

PNGX Set to Adopt New Listing Rules, T+2 Settlement Cycle

04/05/2023

The new listing rules will take effect in July, at the same time PNGX moves from a T+3 to T+2 settlement cycle.

NZ FMA Directs Banks to Ensure Incentives Create Fair Outcomes

04/05/2023

Banks must confirm by 31 May that they have removed incentives linked to sales measures for salespeople and managers.

Enforcement

Philippine SEC to Raise Penalties for Late Filing of Reports

03/05/2023

In addition to higher monetary fines, the SEC may label a company ‘delinquent’ or revoke its registration in case of repeated failures.

ESG / Sustainability

ASIC Fines Future Super for Alleged Greenwashing

02/05/2023

ASIC fined Future Super Investment Services for “overstating the positive environmental impact” of its fund in a Facebook post.

Capital / Liquidity

NZ Banks Have ‘Relatively Little’ Interest Rate Risk: RBNZ

02/05/2023

RBNZ says New Zealand banks are required to hold fewer bond assets than banks in other developed economies and account for them at fair market value.

Enforcement

Philippine SEC Issues Implementing Rules for Consumer Protection Act

01/05/2023

The implementing rules set out the enforcement actions the SEC may take as well as measures to protect financial consumers.

Capital / Liquidity

US Govt Accountability Office Shines Light on Causes of Bank Failures

30/04/2023

GAO says regulators “did not escalate supervisory actions in time” to prevent the failures of Silicon Valley Bank and Signature Bank.