HKMA Identifies Compliance Issues at Banks’ Trust Businesses

08/07/2024

No instances of non-compliance were found in self-assessments, though there were 12 instances of “partial compliance”.

Market Infrastructure

CDR Negatively Impacting Competition, says Australia Banking Body

05/07/2024

ABA says the CDR regime is not delivering for customers or enhancing competition in Australia’s banking industry.

Capital / Liquidity

SFC Issues Reminder on Financial Resources Adequacy Monitoring

05/07/2024

The SFC issued the reminder after it found undesirable practices and internal control deficiencies leading to breaches of the liquid capital requirement.

Australia Passes First Tranche of Financial Advice Reforms

05/07/2024

The legislation seeks to streamline the delivery of financial advice while strengthening transparency and protections for consumers.

Enforcement

Hong Kong Hedge Fund Manager To Disgorge False Trading Profit

05/07/2024

The MMT has ordered a hedge fund manager to disgorge HK$ 5.6 million illicit profit and disqualified him for four years.

Enforcement

FMA Censures DeVere for FAP Licence Breaches

05/07/2024

The FMA censured deVere for failing to ensure its clients understood the financial advice offered to them.

Market Infrastructure

BSP Ramps Up Financial Inclusion Efforts

05/07/2024

The BSP will explore open finance use cases to enhance financial inclusion efforts and get more citizens into the formal financial system.

Market Infrastructure

ASIC Explores AI for Insider Trading Surveillance

04/07/2024

The Australian regulator is exploring AI and machine learning for potential insider trading surveillance and detection.

ASIC Directs Licensees To Correct Advisor Records on FAR

04/07/2024

ASIC has directed AFS licensees to immediately correct records on the Financial Advisers Register or face enforcement action.