Enforcement

SFC Fines PICC Asset Management for Fund Management Failures

06/02/2024

The SFC penalised PICC Asset Management for failing to discharge duties as the manager of a Cayman-incorporated fund.

Crypto / Digital Assets

Hong Kong PCPD Warns Against Worldcoin’s Free Crypto Offer

05/02/2024

The PCPD raided six premises of the Worldcoin project in Hong Kong, saying the city’s privacy law may have been breached.

Australia: Enforcement of New FAR Regime to Be Delayed

05/02/2024

APRA and ASIC acknowledged that banks may need more time to comply with some FAR requirements due to delays finalising some rules.

Market Infrastructure

APRA Outlines Supervision and Policy Priorities for H1 2024

01/02/2024

APRA’s priorities will include operational and cyber resilience, and embedding lessons from last year’s banking turmoil, among other areas.

Enforcement

Westpac Fined A$9.8m for 2016 Pre-Hedging Case

31/01/2024

Westpac will pay the maximum penalty of A$1.8mn allowed in 2016 for unconscionable conduct and another A$8mn for ASIC’s costs.

Fintech / Regtech

HKMA, BOT to Enhance Cross-border Collaboration

31/01/2024

HKMA and BOT will explore the use of local currencies in cross-border trade and collaboration in financial digitalisation, fintech, and sustainable finance.

Enforcement

Korea Increases Rewards for Capital Market Whistleblowers

31/01/2024

Whistleblower reports can also be filed anonymously, to better protect reporters of unfair transactions and market misconduct.

AML / KYC

Taiwan Launches Campaign to Drive Anti Fraud Innovation

31/01/2024

The campaign will use seminars, co-creation workshops, and pilot testing to promote innovative approaches to combatting fraud.

Market Infrastructure

SGX, IDX to Explore Dual Listings Under New MoU

30/01/2024

SGX and IDX will explore collaboration on depositary receipts, ETF cross-listings, index development, and dual listings.