AML / KYC

Germany to Establish New Agency to Fight Financial Crime

02/04/2023

The ‘Federal Authority for Fighting Financial Crime” will absorb the functions of the FIU and also be responsible for enforcing international sanctions.

AML / KYC

UK Unveils New Plan to Tackle Economic Crime

31/03/2023

The plan involves hiring 475 specialist investigators, investing in technology and data analytics, and establishing a new multi-agency crypto cell.

NAB Introduces New Security Measure to Combat Scams

31/03/2023

NAB customers may receive a prompt when engaging in unusual transactions, such as investing in crypto for the first time.

Crypto / Digital Assets

US SEC Forces Shut Down of Crypto Platform Beaxy

30/03/2023

The SEC charged Beaxy and its affiliates for performing the functions of an exchange, broker, clearing agency, and dealer without registration.

Enforcement

ASIC Commences Probe into Regulatory Breaches by ASX

30/03/2023

ASIC is investigating whether ASX breached the law in its oversight of and disclosures relating to the CHESS replacement programme.

Fintech / Regtech

UK Promises ‘Adaptable Approach’ to Regulating AI

29/03/2023

Five principles will guide the use of artificial intelligence in the UK. In future, a statutory duty may require regulators to have due regard to the principles.

AML / KYC

Hong Kong ICAC Issues Corruption Prevention Guide for Banks

27/03/2023

The HKMA said banks operating in Hong Kong must use and make reference to the new corruption prevention guide.

Market Infrastructure

Hong Kong: New Regime for Depositaries to Start in Oct 2024

27/03/2023

Electronic licensing forms for RA 13 will be available in Q3 2023. Depositaries operating in Hong Kong will then have four months to submit a licensing application.

Market Infrastructure

Macau Launches Charles Li’s New Financial Assets Exchange

27/03/2023

The exchange will trade in certificates that entitle holders to daily cash flows from micro and small businesses in Mainland China.