Conduct, Culture & Accountability

South Korea to Overhaul Accounting Regulations

12/10/2022

The changes will ease the burden on SMEs, enhance executive responsibility over accounting controls, and triple whistleblower rewards.

Anti-Money Laundering

Singapore Punishes Ex-BSI Banker Over 1MDB Failings

11/10/2022

BSI Singapore’s former head of private banking contributed to the bank’s failure to file STRs for 1MDB-related transactions when there were reasonable grounds to do so.

KYC & CDD

AUSTRAC Issues Guidance on SoF and SoW Checks

07/10/2022

When performing SoF and SoW checks, reporting entities must avoid the misconception that money coming from a bank can be presumed to be clean.

Cybersecurity

Australia Mounts ‘Supercharged’ Response to Optus Breach

07/10/2022

“Operation Guardian” will protect those who had their data released online. Regulatory changes will enable better coordination to detect and mitigate cyber, fraud and scam risk.

Sustainable Finance

MAS Launches ESG Impact Hub, New Advisory Panel

06/10/2022

At launch, 15 ESG fintechs and organisations are already set up at the Hub – including CDP, Climate Impact X, KPMG, MUFG, and STACS.

Sustainable Finance

FMSB Publishes Spotlight Review on Voluntary Carbon Markets

02/10/2022

The spotlight review details the key challenges of VCMs and offers recommendations to help in their transition into a mature asset class.

Stablecoins

IMF Calls for Global Coordination on Stablecoin Regulation

01/10/2022

In markets where risks are growing quickly, authorities should take immediate action, including by introducing targeted measures to “slow down stablecoin adoption”.

Market Abuse

Thai SEC Takes Legal Action Against Wash Trading in Crypto

30/09/2022

The prosecution is required because the defendants, including two entities and three individuals, did not agree to the penalties prescribed by the SEC.

Market Abuse

FSC Korea to Introduce New Penalties for Unfair Trade Practices

30/09/2022

Violators could be banned from trading, account opening, and serving as listed company directors for up to 10 years.