AML / KYC

BSP Issues New Manual of Regulations for Payment Systems

26/03/2024

​The manual sets out rules and regulations governing the operations of the national payment system, as well as payment providers.

Fintech / Regtech

China Proposes New Data Security Rules for Banks, Insurers

25/03/2024

Banks and insurers must establish a “data security responsibility system”, and designate a centralised management department to be responsible for data security.

Enforcement

Montenegro Halts Do Kwon Extradition to South Korea

25/03/2024

Montenegro’s top prosecutor said only the Minister of Justice can decide on extradition, not the High Court, so now the Supreme Court will weigh in.

AML / KYC

Australia: Queensland Passes New Law to Curb Money Laundering at Casinos

22/03/2024

Casinos will be restricted from accepting more than a prescribed amount of cash from a person for gambling related transactions in a 24-hour period.

Fintech / Regtech

Vietnam Central Bank Proposes to Introduce Regulatory Sandbox

22/03/2024

The SBV will develop a fintech regulatory sandbox fintech for innovations relating credit scoring, open API and P2P lending.

Fintech / Regtech

HSBC Offers Boost to Hong Kong Fintech Ecosystem

21/03/2024

The Hong Kong Science and Technology Parks Corporation has signed a three-year strategic partnership with HSBC.

Enforcement

HK Court Jails Retail Trader for Fraud Involving Naked Short Selling

21/03/2024

In the first case of securities fraud involving illegal short selling in Hong Kong, a retail trader was sentenced to 18 months imprisonment.

Securities / Derivatives

HKEX: Self-Match Prevention Service for Securities Set for Launch

20/03/2024

From 2 April, HKEX’s new SMP service for the securities market will open for applications by exchange participants.

Hong Kong’s New eMPF Platform to Launch in June

20/03/2024

The MPFA says all 12 MPF trustees in Hong Kong will start migrating data to the new eMPF platform in phases starting from June this year.