Enforcement

ASIC Sues Credit Firms for Failing to Cooperate with AFCA

06/08/2021

Two firms repeatedly engaged in disruptive, aggressive and uncooperative behaviour toward AFCA, a civil penalty offence since April 2019.

Enforcement

CSRC Penalises Yongcheng Coal, Executives for Fraud

05/08/2021

Yongcheng Coal and its executives were fined for fraudulent disclosures and for inflating its books. The company defaulted on a CNY 1 billion bond last year.

Market Infrastructure

RBI Issues Outsourcing Framework for Payment System Operators

05/08/2021

Payment system operators may not outsource core management functions such as risk management, internal audit and KYC compliance.

AML / KYC

Singapore: Woman Jailed for Helping to Launder Scam Proceeds

05/08/2021

Rohaiza Alap provided 25 bank accounts to scammers to launder S$2mn out of Singapore. She also recruited others to act as money mules.

Securities / Derivatives

CSRC Promises Increased Predictability of Policy Measures

04/08/2021

The CSRC says it will seek closer cooperation with the US SEC and enhance the transparency and predictability of policy measures.

AML / KYC

Bangladesh Bank Reiterates Ban on Cryptocurrency

04/08/2021

Bangladesh Bank sought to clarify its stance after reports emerged suggesting that crypto transactions are only illegal if they are linked to other crimes.

Fintech / Regtech

New BIS Paper Calls for Concrete Guidance on AI

04/08/2021

Common themes on AI governance create scope for the development of international guidance or standards, says a new paper from the Financial Stability Institute.

Crypto / Digital Assets

PBOC Sets Out Action Plan for Second Half of 2021

04/08/2021

Key focus areas include promoting a greener financing system, resolving major financial risks, promoting financial opening-up, and cracking down on crypto trading.

AML / KYC

Australian Mining Magnate Charged Over A$38.5m Tax Evasion

03/08/2021

The founder of a mining software and equipment company did not disclose overseas trust assets and evaded income tax over 15 years.