Financial Crime

    Market Abuse

    Japanese Brokerages Testing AI Systems to Detect Market Manipulation

    By Garima Chitkara | 14/08/2017

    SBI and Rakuten expect artificial intelligence software to be operational for detecting market manipulation within this year.

    Capital Adequacy

    NZ to Embark on Bank Regulation Review Following IMF Assessment

    By Garima Chitkara | 10/08/2017

    IMF views the central bank less fully compliant with the Basel Core Principles and recommended a more prescriptive rule-making approach to regulation.

    Cybersecurity

    HKMA Collecting UnionPay ATM Withdrawal Data

    By Garima Chitkara | 10/08/2017

    Regulator has asked for number of withdrawals and amounts to regulate the use of UnionPay cards in Hong Kong.

    Conduct, Culture & Accountability

    A Front Line Out of Control

    By Peter Guy | 07/08/2017

    Conduct and regulatory risks continue to mount as China’s crackdown on corruption puts pressure on private banks and wealth managers.

    Anti-Money Laundering

    CBA Responds to AUSTRAC Civil Proceedings

    By Garima Chitkara | 07/08/2017

    Bank claims that the missing TTRs were due to a coding error following a software update in the IDMs since November 2012 until September 2015.

    Market Abuse

    China Cracks Down on Investment Funds for IPO Rules Violation

    By Garima Chitkara | 07/08/2017

    China has blacklisted nine funds connected to HSBC for alleged “misbehaviour” in the financial markets, specifically pertaining to IPO’s.

    Anti-Money Laundering

    CBA in Alleged ‘Serious’ Breach of AML/CTF Rules

    By Garima Chitkara | 03/08/2017

    AUSTRAC began civil proceedings against the CBA for “serious and systemic” failure to comply with the AML and counter-terrorism financing laws.

    Conduct, Culture & Accountability

    SFC Flags Irregularities in Private Funds and Discretionary Accounts

    By Garima Chitkara | 03/08/2017

    Hong Kong securities regulator expresses concerns on the management of private funds and discretionary accounts.

    Tokenisation

    Singapore Brings ICO’s Within Regulatory Ambit

    By Garima Chitkara | 02/08/2017

    Singapore regulator announces intention to regulate ICO’s that share characteristics of debt or equity securities.

    Conduct, Culture & Accountability

    Hong Kong Regulator ups Penalties Against Individuals

    By Garima Chitkara | 01/08/2017

    Fines against individuals as opposed to corporates were up in Hong Kong, a 63% increase in fines from the year before.

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