Trading & Investment

Enhanced SMP Service for Derivatives to Launch in June: HKEX

28/03/2024

Enhanced SMP features will be available for testing from 2 April. Optional readiness test will be held on 15 June ahead of the launch.

Fraud, Scams & Cybercrime

Westpac Unveils “First of its Kind” Anti Scam Service

28/03/2024

The AI-powered service will ask customers to answer a “series of dynamic questions” if a new payment appears to have high scam risk.

Reporting & Disclosures

Australia Tables Bill to Introduce Climate Disclosures, Strengthen FMI Regime

28/03/2024

The legislation will implement new mandatory climate reporting requirements and strengthen regulatory arrangements for FMIs.

Structural Regulation

Visa, Mastercard to Settle 2005 Antitrust Case for $30b

28/03/2024

The settlement, which is subject to court approval, will also give merchants more negotiating power and enable more competitive pricing.

Anti-Money Laundering

Advice Industry Seeks Clarity on AUSTRAC Outsourcing Guidance

28/03/2024

The Financial Advice Association Australia calls on AUSTRAC to provide clear definitions of outsourcing versus reliance arrangements.

ESG Data

HKMA Urges Banks to Utilise GHG Reporting Tools

27/03/2024

The HKMA called on banks to make use of the two new GHG reporting tools launched by the Cross-Agency Steering Group last month.

KYC & CDD

ASIC Takes First Action for Failure to Obtain Director ID

26/03/2024

Under 2021 reforms, all directors are required to verify their identities with Australian Business Registry Services and obtain a director ID.

Conduct, Culture & Accountability

ANZ Agrees to Settle 2021 Credit Cards Class Action

26/03/2024

ANZ has agreed to pay A$57.5mn to settle a class action lawsuit brought by Phi Finney McDonald, subject to court approval.

Payments & Settlements

BSP Issues New Manual of Regulations for Payment Systems

26/03/2024

​The manual sets out rules and regulations governing the operations of the national payment system, as well as payment providers.