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Enforcement
US FTC Expands Competition Probe Into Visa, Mastercard
By Editors | 18/10/2022
The FTC is investigating whether the security technology used by Visa and Mastercard raises the likelihood that payments over different networks will be rejected.
Enforcement
Hong Kong Court Convicts Former Fulbright Securities AE
By Editors | 17/10/2022
The former account executive, banned for life in 2017, pleaded guilty to employing a fraudulent scheme involving securities transactions in eight stocks.
AML / KYC
FCA Fines UK Challenger Bank for Weak AML Controls
By Editors | 17/10/2022
Gatehouse Bank failed to perform appropriate checks on customers based in high-risk countries and customers that were classified as PEPs.
Crypto / Digital Assets
China Blocks 13 Crypto Apps Found to be Locally Accessible
By Editors | 16/10/2022
13 mobile apps for crypto trading that were still accessible in China have been removed from app stores at the direction of a Beijing court.
Crypto / Digital Assets
Thai SEC Orders Bitkub to Fix Standards of Native Token
By Editors | 15/10/2022
The SEC says KUB Coin’s so-called “adminTransfer” function could be used by attackers to transfer digital assets from any wallet.
AML / KYC
US Treasury Facing 2nd Lawsuit Over Tornado Cash Sanctions
By Editors | 14/10/2022
Think tank Coin Center argues that the Tornado Cash sanctions harm US citizens and their ability to transact privately using the Ethereum network.
Enforcement
US SEC Probing Funds, Advisers on Staff Messaging Practices
By Editors | 13/10/2022
The SEC’s probe into the use of personal devices and messaging apps has reportedly expanded beyond broker-dealers to include investment funds and advisers.
Enforcement
APRA Orders RACQ to Uplift Risk, Compliance Frameworks
By Editors | 12/10/2022
APRA identified issues with RACQ’s risk and compliance framework and practices, unclear accountabilities, and an “immature risk culture”.
Enforcement
SFC Fines Asset Manager Over European Rule Breaches
By Editors | 12/10/2022
ARCM failed to implement adequate systems and controls to monitor its short position and ensure it was properly reported and disclosed to the public.
ESG / Sustainability
ASIC is Investigating Firms for Possible Greenwashing
By Editors | 12/10/2022
The investigations involve super fund trustees, listed companies and one managed fund. Net-zero claims are a key area facing scrutiny.
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