Enforcement

FSC Korea to Introduce New Penalties for Unfair Trade Practices

30/09/2022

Violators could be banned from trading, account opening, and serving as listed company directors for up to 10 years.

AML / KYC

AUSTRAC Identifies Emerging AML Risks Facing Super Funds

28/09/2022

Super funds are exposed to cyber crime, as well as AML risks resulting from the growth in merger activity across the sector.

AML / KYC

AUSTRAC Spotlights Risks Associated with Remittance Sector

27/09/2022

Most remittance dealers and remittance network providers did not submit any SMRs in the reporting period assessed by AUSTRAC.

Crypto / Digital Assets

Korea’s New Rules for Crypto Will Have to Wait

26/09/2022

An FSC official said new legislation for the crypto sector will only be effective if there is international consistency.

Market Infrastructure

RBNZ, FMA Seeks Feedback on Draft FMI Standards

25/09/2022

The FMI Standards are likely to be issued in early 2023 and take effect around 1 August 2023 – once FMI designations are complete.

Fintech / Regtech

ADB Paper Offers Guidance on Building Regtech, Suptech Ecosystems

25/09/2022

Central to success is a high level of commitment to a “digital first” strategy, both from the regulatory community and the wider industry.

UBS Hiring Reviewers to Vet Chinese Research Content

21/09/2022

The content reviewers will ensure the language, tone and content of research published in Chinese is appropriate and free of any sensitivities.

Citigroup Submits Plans to US Regulators to Address Deficiencies

21/09/2022

Citigroup has about 30,000 people working on improvements and is hiring rival bankers and former auditors to beef up its risk and compliance teams.

Securities / Derivatives

Korea to Require Advance Disclosure of Insider Stock Trades

15/09/2022

Board members and principal shareholders will be required to disclose information about planned stock trades least 30 days before the expected trading date.