ESG / Sustainability

New Zealand FSC Publishes New Guidance on Climate Disclosures

21/06/2023

The new FSC guidance is designed to help fund managers and insurers to better understand and assess climate-related risks and prepare for mandatory climate reporting.

Market Infrastructure

HKMA Directs Banks to Enhance Protections for Payment Card Customers

21/06/2023

Banks are directed to comply with new guidance by end June 2023. For enhancements that require system changes, banks should comply within six months.

Market Infrastructure

RBNZ Considers Expanding Access to Settlement Accounts

19/06/2023

The RBNZ is seeking feedback on a framework to assess the risks of opening up access to the Exchange Settlement Account System.

Enforcement

APRA Fines OnePath Custodians for Breaching Superannuation Law

19/06/2023

OnePath Custodians failed to direct 125 default member contributions to a MySuper product as required by the law.

Crypto / Digital Assets

US FDIC Orders OKCoin to Stop Advertising Deposit Insurance

19/06/2023

Crypto firm OKCoin is directed to “immediately” remove misleading statements about deposit insurance or face enforcement action.

Enforcement

NYAG Penalises CoinEx $1.8m for Failure to Register

19/06/2023

CoinEx must implement geoblocking to prevent New York IP addresses from accessing its platform.

Crypto / Digital Assets

Global Consortium Executes First “Quantum-Secure” Trade Transaction

19/06/2023

The trade parties utilised IMDA’s ‘TradeTrust framework’ and placed a quantum-secure ‘seal’ on the electronic trade documents.

Securities / Derivatives

DBS Launches New Multi Family Office Platform for UHNW Families

19/06/2023

The new platform is established as an umbrella VCC, with multiple underlying sub-funds that clients can use to manage their assets.

Enforcement

Korea Probes Four Banks for Possible Collusion on Rates

15/06/2023

The Fair Trade Commission conducted inspections at Kookmin Bank, Hana Bank, Shinhan Bank and Woori Bank.