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Anti-Money Laundering
Singapore Passes Amendments to Accountants Act
By Manesh Samtani | 06/10/2022
ACRA is empowered to conduct inspections on accounting entities, compel them to remediate lapses identified, and impose sanctions when necessary.
Fraud, Scams & Cybercrime
Hong Kong Police Launch New Anti-Fraud Search Engine
By Editors | 06/10/2022
Dubbed ‘Scameter’, the search engine allows members of the public to check information such as bank account numbers and email addresses for previous links to scams.
PEPs & Sanctions
European Council Adopts Eighth Russia Sanctions Package
By Editors | 06/10/2022
The package completely bans the provision of crypto wallets, accounts, or custody services to Russian nationals and entities, among other measures.
DeFi & Web3
CFTC Allowed to Serve Complaint to DAO Through Website
By Editors | 05/10/2022
The CFTC intends to hold any voting member of the Ooki DAO individually liable for violations of the Commodity Exchange Act and CFTC regulations.
KYC & CDD
Singapore Passes Amendments to Business Trusts Act
By Editors | 05/10/2022
Unlisted business trusts will have to obtain and maintain information on the beneficial owners of units, and provide this information to authorities upon request.
Anti-Money Laundering
Basel AML Index: Progress in AML/CFT Remains “Paralysed”
By Editors | 05/10/2022
New Zealand, Australia, Taiwan and Singapore received the best ML/TF risk scores among APAC jurisdictions in the latest Basel AML Index.
Supervision & Enforcement
China FX Regulator Fines Ten Banks for Violations
By Editors | 04/10/2022
China Development Bank was handed the largest penalty, amounting to CNY 42.7 million. The other nine banks were fined a combined CNY 6.6 million.
Structural Regulation
SEBI to Amend IPO Framework, Introduce Bond Platform Rules
By Editors | 04/10/2022
At its board meeting, SEBI also decided to allow net settlement between the cash and derivatives segments, which will enable netting benefits and reduce margins.
Cryptocurrency
US SEC Fines Celebrity Kim Kardashian for Promoting Crypto
By Editors | 04/10/2022
Kardashian failed to disclose the compensation she received to promote EMAX tokens on Instagram. The case is a warning to other celebrities and influencers.
Anti-Bribery & Corruption
The Sentry Calls for Action to Stop Kleptocracy Enablers
By Editors | 04/10/2022
New report offers recommendations to target bankers, lawyers, and accountants who provide advice and support to violent kleptocracies and corrupt networks.
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