ESG / Sustainability

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.

Enforcement

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.

Enforcement

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.

AML / KYC

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.

Fintech / Regtech

China Proposes New Data Security Rules for Banks, Insurers

25/03/2024

Banks and insurers must establish a “data security responsibility system”, and designate a centralised management department to be responsible for data security.

Enforcement

Montenegro Halts Do Kwon Extradition to South Korea

25/03/2024

Montenegro’s top prosecutor said only the Minister of Justice can decide on extradition, not the High Court, so now the Supreme Court will weigh in.

AML / KYC

Australia: Queensland Passes New Law to Curb Money Laundering at Casinos

22/03/2024

Casinos will be restricted from accepting more than a prescribed amount of cash from a person for gambling related transactions in a 24-hour period.

Fintech / Regtech

Vietnam Central Bank Proposes to Introduce Regulatory Sandbox

22/03/2024

The SBV will develop a fintech regulatory sandbox fintech for innovations relating credit scoring, open API and P2P lending.

Fintech / Regtech

HSBC Offers Boost to Hong Kong Fintech Ecosystem

21/03/2024

The Hong Kong Science and Technology Parks Corporation has signed a three-year strategic partnership with HSBC.