Enforcement

New Zealand Court Fines Lender for Credit Law Breaches

14/11/2024

Some of Eagle MAN’s loans charged an interest rate of 182.5 percent per annum, on top of credit and default fees.

Enforcement

ASIC Sues Cbus Trustee Over Systemic Claims Handling Failures

14/11/2024

ASIC said more than 10,000 members and claimants of Cbus were impacted by slow processing of death benefits and TPD insurance claims.

Enforcement

Korea FSS Fines Shinhan Bank over Prohibited Business Conduct  

13/11/2024

The FSS fined Shinhan Bank KRW 280 million and directed the bank to improve its internal controls for handling vulnerable customers.

Fintech / Regtech

Australia Enhances CDR Regime to Boost Ease of Use

13/11/2024

The changes simplify the consent process and the requirements that apply when accredited banks seek data from a consumer.

Enforcement

Australia Jails Ex-Investment Manager Over False Performance Reports

13/11/2024

The forged portfolio performance verification reports falsely verified or claimed a history of successful investment returns.

Capital / Liquidity

HKMA Proposes Revisions to Policy Manual on Pillar 2 Capital

12/11/2024

The revisions incorporate the Basel III reforms and allow Pillar 2 capital charges to be imposed for inadequate systems and controls to address climate risks.

AML / KYC

AUSTRAC Launches New System for Enrolment, Registration and Reporting

12/11/2024

AUSTRAC says the new online portal makes it easier and faster to enrol or register a new business and to meet AML/CTF obligations.

Enforcement

BSP to Probe GCash Over Unauthorised Deductions

12/11/2024

The unauthorised deductions incident was attributed to a “system error”, but the BSP has vowed to investigate.

Securities / Derivatives

Hong Kong Introduces Bill to Boost REITs, Options Markets

12/11/2024

The bill will remove stamp duties payable on transfers of REITs shares or units and jobbing business of options market makers.