Enforcement

APRA Orders Independent Review of Cbus, BUSSQ Governance

14/08/2024

APRA imposed additional licence conditions to address concerns regarding fitness and propriety processes and fund expenditure management.

Capital / Liquidity

HKMA Issues Supplementary Guidance on Market Risk, CVA Risk

14/08/2024

The guidance clarifies that funding swaps should typically be assigned to the trading book unless designated as hedging instruments under hedge accounting.

Fintech / Regtech

HKMA Launches New GenAI Sandbox at Hong Kong Cyberport

14/08/2024

HKMA CEO Eddie Yue said sandbox will empower banks to pilot their novel GenAI use cases within a risk-managed framework.

Enforcement

ASIC Commences Legal Action Against ASX Over Misleading Statements

14/08/2024

ASIC alleges that ASX’s claims in February 2022 that the CHESS replacement project was tracking to plan were “misleading and deceptive”.

Fintech / Regtech

BSP to Start Accepting New Digital Bank Applications in January

09/08/2024

The BSP will lift the moratorium on granting new digital bank licences starting 1 January 2025. Only four new licences will be granted.

AML / KYC

Australia to Roll Out ‘Confirmation of Payee’ in Early 2025

09/08/2024

SWIFT has been selected to develop a central matching service to underpin the ‘confirmation of payee’ services at Australian banks.

Enforcement

Ex-China Forestry Execs Found Culpable of Market Misconduct

08/08/2024

Former CEO and former chairman culpable for disclosing false information in China Forestry’s IPO prospectus, annual results, and annual report in 2008 and 2009.

AML / KYC

HKMA Issues Circular on Changes to Tax Reporting Jurisdictions

08/08/2024

The HKMA said banks are expected to treat customers fairly and minimise their burden when reporting their tax information.

Crypto / Digital Assets

Australian Police Obtain New Intelligence on Crypto Scams

08/08/2024

The AFP identified over 2,000 compromised crypto wallets belonging to Australians by participating in a global anti-scam initiative launched by Chainalysis.