Supervision & Enforcement

ASIC Directs Licensees To Correct Advisor Records on FAR

04/07/2024

ASIC has directed AFS licensees to immediately correct records on the Financial Advisers Register or face enforcement action.

Operational Risk

APRA Updates Guidance on Strategic Planning for Super Funds

04/07/2024

The updated guidance for super funds will apply from 1 July 2025 and sets clear expectations for trustees regarding expenditure.

Market Abuse

Korea Imposes Largest Ever Short-Selling Fine on Credit Suisse

04/07/2024

The SFC has imposed a $19.5 million combined fine on Credit Suisse and its Singapore affiliate for naked short sale activities.

Structural Regulation

HK Presses Ahead with New Company Re-domiciliation Regime

04/07/2024

The FSTB is drafting legislation that will make it easier for foreign companies to re-domicile to Hong Kong.

Operational Risk

APRA, ASIC Find Gaps in Super Trustees’ Retirement Strategies

04/07/2024

ASIC and APRA have urged super trustees to strengthen oversight of retirement strategy implementation after a survey found gaps.

Conduct, Culture & Accountability

Australia: ANZ Sanctioned for Charging Deceased Customers

03/07/2024

The BCCC sanctioned ANZ for breaching its obligations under the Banking Code of Practice in relation to deceased customers.

Capital Adequacy

Hong Kong’s New RBC Regime for Insurers Commences

03/07/2024

The introduction of the RBC regime will strengthen the financial soundness of insurers and enhance protection for policy holders.

Credit Risk

HSBC Completes Pilot Trial of Cross-Boundary Credit Referencing

03/07/2024

HSBC is one of the first banks to successfully participate in the newly-launched cross-boundary credit referencing initiative led by the HKMA and the PBOC.

Conduct, Culture & Accountability

Hong Kong AFRC Sets Expectations for PIE Auditors

03/07/2024

The AFRC has reminded PIE auditors to be prepared for undertaking PIE engagements as gatekeepers for the capital market.