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Fraud, Scams & Cybercrime
Ethical Failings the Main Reason for Financial Crime – Report
By Editors | 18/12/2017
Survey of Bangladesh banks finds two thirds face financial crime; general banking, credit, IT most vulnerable.
Cryptocurrency
Feeding the Bitcoin Bubble
By Peter Guy | 18/12/2017
The start of bitcoin futures may increase speculation and international regulatory risks as countries rein in credit.
Market Abuse
2017 a Punishing Year for Naughty Traders in China
By Editors | 18/12/2017
China securities regulator has issued 206 administrative penalties in 2017, more than $1bn in fines; increasing cooperation with HK SFC.
Anti-Money Laundering
Commonwealth Bank Responds to AUSTRAC Allegations
By Garima Chitkara | 14/12/2017
Bank admits late filing of reports on more than 50,000 deposits into its ATMs, AUSTRAC seeking penalties for individual AML/CTF law breaches.
Anti-Money Laundering
US Lifts Threat of Criminal Charges against HSBC
By Garima Chitkara | 14/12/2017
Bank released from deferred prosecution agreement after meeting its terms; outgoing CEO says AML to remain ‘a top priority’ in 2018.
Structural Regulation
China to Scrap RMB Trading Waitlist for Foreign Banks
By Samuel Riding | 14/12/2017
Move is part of a package reforms including ‘non-discriminatory ownership limit rules’ for overseas banks, but PBOC doesn’t provide timeline.
Supervision & Enforcement
Hong Kong Court Confirms Legality of SFC-CSRC Information Sharing
By Editors | 12/12/2017
Judge rejects legal challenge to transfer of documents seized by SFC during execution of a search warrant to the Chinese securities regulator.
Anti-Money Laundering
Australia Makes Cryptocurrencies ‘Equivalent to Cash’ for AML/CTF Purposes
By Editors | 11/12/2017
**Australia joins Japan in recognising cryptocurrencies as a store of value, international transactions of $7,500 or more must be reported.
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Cryptocurrency
Hong Kong Rejects Japan-style Embrace of Cryptocurrencies
By Editors | 11/12/2017
Government official says Hong Kong will continue to regard cryptocurrencies as commodities, won’t legitimise through regulation.
Structural Regulation
What You Need to Know About MiFID II Product Governance Requirements
By Samuel Riding | 07/12/2017
With less than a month to go before the MiFID II comes into effect, Vijay Chander, executive director for Fixed […]
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