Fraud, Scams & Cybercrime

Westpac Enhances Security Features to Protect Against Scams

13/06/2024

Westpac’s Ben Young said the new security features will help individuals and small businesses identify potential scams before they have made a payment,

Operational Risk

APRA Finalises Operational Risk Management Guidance

13/06/2024

The guidance is designed to help FIs implement the new cross-industry standard on operational risk management.

Structural Regulation

ASIC Issues First Stop Order Targeting Crowdfunding Campaign

13/06/2024

ASIC issued an interim stop order against a crowd-sourced funding campaign because of its use of a nominee arrangement.

Trading & Investment

Hong Kong: New Sovereign Fund Starts Deploying Capital

13/06/2024

The HKIC, established in 2022, will make its first batch of investments in start-ups beginning this month.

Trading & Investment

New Zealand FMA Proposes New Rules for Derivatives Issuers

12/06/2024

The FMA proposes to limit the amount of leverage that derivative issuers can offer, and to require them to conduct suitability checks.

Conduct, Culture & Accountability

Australia Consults on Draft Regulations for Financial Advice Reforms

12/06/2024

The consultation proposes regulations to support the delivery of the first tranche of reforms to increase access to affordable financial advice.

Trading & Investment

Korea: Short Selling Monitoring System To Be Ready in March 2025

11/06/2024

South Korea’s ban on short selling can only be lifted after the new Naked Short Selling Detection System is in place.

CBDCs

HSBC China Launches e-CNY Services for Corporate Clients

11/06/2024

HSBC China has become one of the first foreign banks in the country to provide digital yuan services to both corporate and retail customers.

Anti-Money Laundering

Australia Court Orders SkyCity to Pay A$67m AML Penalty

07/06/2024

SkyCity’s failures “over many years allowed high-risk customers to move millions of dollars through the casino”.