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AI Risk & Governance
NLP for Regulatory Compliance: A Question of When, Not If
By Irene Liu | 27/10/2022
Accenture’s Irene Liu and team discuss the use of NLP technology within compliance functions, as well as the adoption challenges and how to address them.
Anti-Money Laundering
Hong Kong Customs Arrests Two for Laundering HK$3.5bn
By Editors | 27/10/2022
The money was laundered by reselling precious metals. The case is the largest-ever money laundering case for Hong Kong Customs.
Conduct, Culture & Accountability
Australian Court Orders ANZ to Pay A$25m Penalty
By Editors | 27/10/2022
ANZ inadvertently failed to provide promised fee and interest rate discounts to customers due to inadequacies within its systems.
Conduct, Culture & Accountability
ASIC Offers Conduct Guidance to Wholesale Market Participants
By Mark Johnston | 26/10/2022
Fixed income dealers should establish clear prohibitions on the use of unapproved communication channels, ASIC says.
Reporting & Disclosures
German Consumer Group Files Greenwashing Suit Against DWS
By Editors | 26/10/2022
The suit claims that DWS misrepresented a fund’s green credentials in marketing material. A hearing date is set for 10 March.
PEPs & Sanctions
RBI Grants First Vostro Approvals to Russian Banks
By Editors | 26/10/2022
Sberbank and VTB Bank have been granted approval to open vostro accounts in India to settle rupee trade transactions.
Cybersecurity
Australia: Hackers Accessed Data of 4m Customers, Medibank Admits
By Manesh Samtani | 26/10/2022
Medibank does not have cyber insurance, and is expected to face investor class actions, on top of lawsuits from angry customers and likely fines.
Anti-Bribery & Corruption
US Charges Chinese “Agents” for Obstructing Huawei Probe
By Editors | 26/10/2022
The two defendants are accused of trying to bribe a US official to obtain inside information about the criminal case against Huawei.
Fraud, Scams & Cybercrime
UK: Industry Calls for Clear Rules on Data Sharing to Combat Scams
By Mark Johnston | 26/10/2022
RUSI and Stop Scams UK say policy changes are needed to allow data sharing for the purpose of combatting scams.
Supervision & Enforcement
US Treasury Issues CFIUS Enforcement and Penalty Guidelines
By Editors | 26/10/2022
The guidelines describe three categories of conduct that may constitute a violation of foreign investment laws and regulations, and how penalties may be imposed.
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