AML / KYC

AUSTRAC Consults on Drafts Guidance to Address Debanking

05/12/2022

FIs should consider a remitter’s, DCE’s or fintech’s registration with AUSTRAC as a mitigating factor when assessing its ML/TF risks.

Market Infrastructure

NZ FMA Publishes Guidance on New Conduct Licensing Regime

04/12/2022

The FMA will begin accepting licence applications on 25 July 2023. The new CoFi regime will come into force in early 2025.

Market Infrastructure

FSC Korea to Ease Regulations to Lure Global Investors

30/11/2022

Foreign investors will no longer need to register their identities prior to investing in Korean stocks. The dividend-payment process is also being revised.

Enforcement

APRA to Intensify Industry Scrutiny Following Medibank Hack

29/11/2022

APRA to intensify supervision of all entities not meeting CPS 234. Medibank executive pay could be impacted.

Australia Offers Three Options for Regulating BNPL Providers

29/11/2022

The options seek to ensure BNPL is subject to appropriate regulation that balances consumer protection while still encouraging innovation.

ESG / Sustainability

HKEX Publishes Latest Findings from Review of ESG Disclosures

29/11/2022

HKEX said it is currently reviewing its ESG framework with a focus on enhancing climate disclosures amongst issuers.

Crypto / Digital Assets

BOJ to Involve Banks in CBDC Testing Around April 2023

28/11/2022

The BOJ’s next phase of CBDC testing will involve Japan’s three megabanks as well as regional banks. A digital yen could be issued in 2026.

AML / KYC

HKMA, Cyberport Host Third AML Regtech Lab

25/11/2022

The HKMA says retail banks increased their identification and reporting of suspicious accounts and networks by 127 percent compared to a year ago.

Fintech / Regtech

IMF Shines Spotlight on Benefits of Instant Payments

24/11/2022

The IMF says demand attributes and benefits offered by instant payments may make CBDC less compelling if issued.