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Cryptocurrency
ASIC Files Suit Over Misleading Claims by Crypto Firm
By Editors | 26/10/2022
ASIC said BPS Financial engaged in unlicensed conduct and made false, misleading or deceptive representations about a crypto token called Qoin.
Market Abuse
Credit Suisse Clears Litigation Docket Ahead of Overhaul
By Editors | 25/10/2022
Credit Suisse has been cleared of FX rigging charges and settled separate cases with French and US prosecutors.
Structural Regulation
HK AFRC Seeking Fast-track Access to Mainland Audit Papers
By Editors | 25/10/2022
The AFRC is working closely with China’s MOF to explore ways to streamline the process for gaining access to mainland audit documents.
Market Abuse
Nasdaq Halts At Least Four Chinese IPOs – Report
By Editors | 24/10/2022
Nasdaq will reportedly not allow certain IPOs to proceed until it can address concerns about large stock rallies seen by some Chinese issuers.
Supervision & Enforcement
FCA Seeks £50m Penalty from Barclays for 2008 Deals
By Editors | 24/10/2022
Barclays did not disclose payments made to Qatari entities for their participation in two capital raisings during the GFC in 2008.
Anti-Money Laundering
NZ DIA Lists Common Areas of AML Non-Compliance
By Editors | 24/10/2022
Common areas of non-compliance related to AML/CFT risk assessments, staff training, PEP identification, and compliance monitoring, among other areas.
Anti-Money Laundering
Singapore Jails Former Bank Officer Over Shell Company Setups
By Editors | 24/10/2022
The former bank officer recruited nominee directors to set up shell companies and open bank accounts for use by unidentified individual based overseas.
KYC & CDD
Philippine SEC Sets Out Penalties for Disclosure Violations
By Mark Johnston | 24/10/2022
Directors, trustees, and officers can be fined personally and barred for five years for failure to ensure compliance with beneficial ownership disclosure requirements.
PEPs & Sanctions
Sri Lanka Will Not Adopt Russia’s Mir Card Scheme
By Editors | 23/10/2022
The CBSL said it is not in a position to consider Russia’s request to operate the Mir card scheme in Sri Lanka, due to US sanctions.
Anti-Money Laundering
FATF Blacklists Myanmar, Sidelines Russia, De-lists Pakistan
By Manesh Samtani | 23/10/2022
Myanmar is on the FATF “blacklist” alongside Iran and North Korea. Pakistan was removed from the “grey list”.
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