Credit Risk

Korea Working on More Measures to Address Real Estate PF Risks

28/05/2023

Regulators are extending support measures, encouraging write-offs of loss-making assets, and reassessing risk weights.

Cybersecurity

APRA Directs Regulated Entities to Address MFA Implementation Gaps

26/05/2023

Multi-factor authentication is one of the “most effective controls” an organisation can implement to unauthorised access to a device or network, APRA says.

Structural Regulation

Australia to Expand AFCA Remit to Superannuation

25/05/2023

Proposed changes will allow AFCA to hear complaints relating to superannuation whether or not they meet the definition of superannuation complaint in the Corporations Act.

Conduct, Culture & Accountability

First Citizens Sues HSBC for Hiring Ex-SVB Employees

25/05/2023

First Citizens says a former SVB executive moved to HSBC and executed a scheme to “plunder” trade secrets.

Anti-Bribery & Corruption

PwC Australia Referred for Possible Criminal Investigation

25/05/2023

Treasury referred PwC to the AFP to consider a criminal probe related to a leak of confidential tax policy information.

Trading & Investment

SGX to Launch First Depository Receipts on 30 May

24/05/2023

The inaugural depository receipts will be issued by Phillip Securities and represent ownership in Thailand’s AOT and PTT Exploration & Production.

Market Abuse

Korean Officials Vow to Eradicate Unfair Trading from Capital Market

24/05/2023

Korean officials will seek tougher sanctions and penalties as well as regulatory improvements to the current CFD trading system.

Data Privacy

Meta Fined Record $1.3b for Violating EU GDPR

24/05/2023

Meta Ireland has been given six months to ensure its data processing operations for European users comply with GDPR.

Cryptocurrency

SFC Finalises Licensing Regime for Crypto Trading Platforms

24/05/2023

The SFC will start accepting licence applications from virtual asset trading platforms starting 1 June.