Hong Kong MPFA Calls for Action to Guard Against Fraud

23/12/2023

The MPFA issued two circulars offering guidance to MPF intermediaries and MPF trustees on guarding against fraudlent activities.

Fintech / Regtech

RBA Sets Expectations for Enhanced Debit Card Market

22/12/2023

The RBA wants all industry participants to support token portability and token synchronisation by June 2025.

Market Infrastructure

HK AFRC to Start Inspections of Mainland Auditors of HK-Listed Entities

22/12/2023

Under a partnership with Chinese authorities, the AFRC will start to inspect engagements involving audit working papers located on the Mainland.

Enforcement

ICAC Secures Guilty Pleas from Ex-StanChart Bankers Who Defrauded Investors

21/12/2023

Two former Standard Chartered relationship managers pleaded guilty to conspiracy to defraud. Three other defendants will stand trial in July 2024.

HKMA Issues Guidance for Banks on Digital Marketing

21/12/2023

Banks are asked to review their digital marketing activities for general banking products to ensure consumer protections are in place.

Enforcement

HK SFC Issues Warning About More Suspicious VATPs

21/12/2023

The SFC said the police have blocked the two platforms in Hong Kong over suspected fraudulent activities related to virtual assets.

ESG / Sustainability

China Launches ESG Disclosure Guidance for Insurance Industry

21/12/2023

The Insurance Association of China says the guidance will help improve the quality of ESG disclosures in the insurance industry.

Enforcement

Bursa Malaysia Fines Ten Serba Dinamik Directors for Listing Rule Breaches

20/12/2023

Timely and accurate disclosure of financial statements and material information are fundamental obligations of listed companies, Bursa Malaysia said.

Fintech / Regtech

BSP Retains Moratorium on InstaPay and PESONet Fee Increases

20/12/2023

The moratorium will remain in place as the BSP works to eliminate fees entirely for small e-payment transactions.