New Zealand Eases Loan Affordability Assessment Rules

06/08/2024

The government has removed prescriptive loan affordability requirements from the Credit Contracts and Consumer Finance Act.

Market Infrastructure

HKEX to Hold Practice Session for Severe Weather Trading

06/08/2024

The 24 August session is intended to help EPs prepare for implementation of Severe Weather Trading (SWT) arrangements next month.

Enforcement

Hong Kong’s Insurance Authority Fines AIA for AML Lapses

06/08/2024

The IA fined AIA’s Hong Kong branch after an inspection identified shortfalls in its AML controls and processes.

Enforcement

HK Court Convicts Ex-Sunway Employee for Money Laundering

06/08/2024

The former PA helped his boss to launder HK$125mn that was unlawfully obtained through loans from HK-listed Sunway Intl Hldgs.

Enforcement

APRA Removes NM Super’s Additional Licence Conditions

06/08/2024

The additional licence conditions were imposed by APRA in 2019 over governance and risk management concerns.

Market Infrastructure

Australia, Vietnam to Cooperate on Capital Market Development

05/08/2024

The MoU between ASIC and Vietnam’s SSC establishes a formal information-sharing mechanism between the two regulators.

ESG / Sustainability

Australian Court Orders Mercer to Pay A$11.3mn for Greenwashing

05/08/2024

The case against Mercer Superannuation was ASIC’s first greenwashing action brought before the Federal Court.

ASIC Extends Licensing Relief for Foreign FIs to March 2025

02/08/2024

The relief is extended ahead of a new licensing exemption regime for FFSPs due to commence in Australia on 1 April 2025.

Market Infrastructure

Hong Kong IA to Start Charging Fees from September

02/08/2024

The Insurance Authority has not charged licensing and related fees since it assumed supervisory responsibilities in 2019.