Enforcement

Korea Imposes Largest Ever Short-Selling Fine on Credit Suisse

04/07/2024

The SFC has imposed a $19.5 million combined fine on Credit Suisse and its Singapore affiliate for naked short sale activities.

Market Infrastructure

HK Presses Ahead with New Company Re-domiciliation Regime

04/07/2024

The FSTB is drafting legislation that will make it easier for foreign companies to re-domicile to Hong Kong.

Market Infrastructure

APRA, ASIC Find Gaps in Super Trustees’ Retirement Strategies

04/07/2024

ASIC and APRA have urged super trustees to strengthen oversight of retirement strategy implementation after a survey found gaps.

Enforcement

Australia: ANZ Sanctioned for Charging Deceased Customers

03/07/2024

The BCCC sanctioned ANZ for breaching its obligations under the Banking Code of Practice in relation to deceased customers.

Market Infrastructure

Hong Kong’s New RBC Regime for Insurers Commences

03/07/2024

The introduction of the RBC regime will strengthen the financial soundness of insurers and enhance protection for policy holders.

Market Infrastructure

HSBC Completes Pilot Trial of Cross-Boundary Credit Referencing

03/07/2024

HSBC is one of the first banks to successfully participate in the newly-launched cross-boundary credit referencing initiative led by the HKMA and the PBOC.

Market Infrastructure

Hong Kong AFRC Sets Expectations for PIE Auditors

03/07/2024

The AFRC has reminded PIE auditors to be prepared for undertaking PIE engagements as gatekeepers for the capital market.

Market Infrastructure

AFCA Publishes New Rules and Operational Guidelines

02/07/2024

The new rules are approved by ASIC and provide complete transparency into how the AFCA operates.

AML / KYC

FSC Issues New Standard on Fraud and Scam Mitigation for Super Funds

02/07/2024

The new standard requires funds to implement multifactor authentication for all high-risk transactions and to have clear procedures to prevent fraudulent events.