Market Abuse

ASIC Fines JP Morgan Unit for Failure to Detect Suspicious Trades

09/05/2024

The case highlights that market participants “cannot solely rely on automated trade monitoring systems” to detect potential misconduct.

Structural Regulation

HKMA to Relabel ‘Virtual Banks’ as ‘Licensed Digital Banks’

09/05/2024

The proposal is aimed at addressing negative connotations associated with the term “virtual bank” in Chinese.

Supervision & Enforcement

BNM Fines 14 Banks Over Erroneous Statistical Submissions

09/05/2024

The reporting failures were caused by unresolved technical issues and inadequate operating procedures.

Fraud, Scams & Cybercrime

ASIC Warns Against “Unscrupulous” Cold Calling Conduct

08/05/2024

ASIC is concerned about the use of high-pressure sales tactics to induce inappropriate superannuation switching.

CBDCs

HKMA Forms New Architecture Community for Project Ensemble

08/05/2024

The Community will develop standards to support interoperability among wCBDC, tokenised money and tokenised assets.

Supervision & Enforcement

BNM Publishes Document Detailing its Enforcement Approach

07/05/2024

BNM says increased transparency should “foster confidence” in its role as a regulator and supervisor.

Anti-Money Laundering

Australia to Allocate A$166m Towards AML/CTF Reforms

07/05/2024

The budget allocation will enable AUSTRAC to implement reforms to extend the AML/CFT regime to “Tranche 2” entities.

Data Privacy

Hong Kong, Shenzhen Pilot Cross-Border Data Platform

07/05/2024

Pilot trials will test the validation of credit referencing reports and account opening documents for corporate customers.

Market Abuse

Korea FSS Set to Issue Interim Findings from Short Selling Probe

05/05/2024

Ten global investment banks including Nomura and Credit Suisse are expected to face fines totalling more than $73.7mn.