Anti-Bribery & Corruption

Hong Kong IA and ICAC Execute First Joint Operation

12/04/2024

Two individuals were arrested over a scheme by an insurance broker to use unlicensed referrers to sell insurance policies to Mainland Chinese visitors in Hong Kong.

Supervision & Enforcement

ASIC Proposes Updates to Guidance for Insolvency Practitioners

12/04/2024

The proposed updates will provide improved guidance on reporting requirements and reduce “unnecessary effort and expense”, ASIC said.

Structural Regulation

Australia Unveils Plans to Strengthen Rules for Mergers

12/04/2024

The reforms are expected to come into force on 1 January 2026, introducing a mandatory notification requirement for deals above certain thresholds.

Supervision & Enforcement

HK Customs Arrests One in Largest Ever Gold Smuggling Case

11/04/2024

The Customs and Excise Department has seized HKD 84 million worth of gold and arrested one person.

Cryptocurrency

ASIC Appeals Court Ruling in ‘Finder Earn’ Crypto Case

11/04/2024

ASIC filed an appeal due to concerns that the Finder Earn product was offered without the appropriate licence or authorisation.

Credit Risk

Philippines: NPLs at Digital Banks Continue to Rise

10/04/2024

Only two of the Philippines’ six digital banks are currently profitable. Yet, while NPLs are rising, deposit growth is still strong.

Fraud, Scams & Cybercrime

SFC Secures Court Orders Against Former Company CFO

10/04/2024

The former CFO was ordered to pay compensation of HK$163mn, the full amount that was misappropriated by the former chairman.

Operational Risk

NZ FMA to Require Operational Resilience as Licence Condition

09/04/2024

The FMA also launched a new “light-touch” online notification form for licence holders to notify the regulator of material incidents.

Data Privacy

FSC Korea Unveils Plans to Enhance ‘MyData’ Service

05/04/2024

MyData 2.0 will expand data availability, promote usage, boost user convenience and ensure data protection, the FSC said.