Fraud, Scams & Cybercrime

SFC Obtains Asset Freeze Orders from Canadian Regulator

06/06/2024

The preservation orders were made to restrain the assets of a former Hong Kong CEO pursuant to the IOSCO EMMoU.

Reporting & Disclosures

Active Super Engaged in Greenwashing, Australia Court Rules

06/06/2024

Active Super made “misleading” and “deceptive” representations regarding exclusions applied to gambling, coal mining, Russian entities and oil tar sands investments.

Cryptocurrency

No Penalty for Block Earner, Australian Court Rules

05/06/2024

The Federal Court said Block Earner will not have to pay a penalty as it acted “honestly” before offering its “Earner” product.

Operational Risk

APRA Fines Superannuation Trustee for Late Reporting

05/06/2024

APRA said Equity Trustees Superannuation lodged 15 reporting forms late for two funds under its trusteeship.

Resolution & Recovery

BSP Directs All Banks to Submit Recovery Plans by 30 June

05/06/2024

The requirements on the submission of recovery plans are also applicable to thrift, rural, and cooperative banks.

Market Data & Technology

New Zealand XRB Calls for Mandatory Digital Financial Reporting

05/06/2024

The XRB says New Zealand should mandate digital financial reporting for entities that participate in financial markets.

Anti-Money Laundering

AUSTRAC Issues New Guidance on Money Mule Detection

04/06/2024

The new financial crime guide was developed in response to an increasing trend for foreign students to be used as money mules.

Conduct, Culture & Accountability

NZ FMA Identifies Weaknesses at Financial Advice Firms

04/06/2024

The FMA also found that the transition to the new financial advice regime resulted in stronger relationships with clients for many advisers.

Reporting & Disclosures

Taiwan Issues Guidelines for FIs on Avoiding Greenwashing

04/06/2024

The guidelines set out five principles to help financial institutions avoid greenwashing when making “sustainable” or “green” related statements.