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Capital Adequacy
RBI Adopts Four Tier Regulatory Framework for UCBs
By Editors | 24/07/2022
A four-tiered regulatory framework is being adopted for urban cooperative banks based on size of deposits of the banks and their area of operations.
Cryptocurrency
Japan FSA Dissatisfied With Crypto Industry Self-Regulation – Report
By Editors | 24/07/2022
Japan’s self-regulatory body for the crypto industry is being criticised for poor governance, lack of skilled staff, and slow implementation of AML rules.
Market Abuse
ASIC Expects Market Participants to Detect Pump and Dump Activity
By Editors | 23/07/2022
New report sets out indicators and good practices to help market participants detect, prevent, and respond to pump and dump activity.
Credit Risk
FSC Korea to Introduce Measures to Help Vulnerable Borrowers
By Editors | 23/07/2022
The FSC chairman has clarified that the plan is not intended to help those who have lost money on stock and crypto investments funded by cheap loans.
Fraud, Scams & Cybercrime
US Recovers Crypto Ransoms Paid by Healthcare Providers
By Editors | 23/07/2022
The FBI seized about USD 500,000 from two crypto accounts that had received ransoms paid by US health care providers to North Korean hackers.
Anti-Money Laundering
HKMA, Cyberport Jointly Promote Use of AML RegTech
By Editors | 22/07/2022
HKMA, Cyberport and Deloitte co-organised the second AMLab, focusing on low-barrier technologies such as RPA and visualisation tools.
Data Privacy
China CAC Fines Didi ¥8bn for Data Security Breaches
By Editors | 22/07/2022
The fine is seen as a sign that China’s regulatory crackdown in the tech sector is winding down. Didi is expected to be able to resume normal operations.
Supervision & Enforcement
SFC Fines RBC Investment Services for Mishandling Client Assets
By Editors | 21/07/2022
The SFC said RBC Investment Services failed to segregate client money and transferred securities from client accounts without valid standing authority.
Fraud, Scams & Cybercrime
ACCC Chair Calls for Joint Response to Financial Scams
By Sanday Chongo Kabange | 21/07/2022
ACCC chair Gina Cass-Gottlieb says banks have a responsibility to protect customers from investing in scam cryptocurrency schemes.
Conduct, Culture & Accountability
ASIC Imposes Eight Year Bans Over Pressure Selling of CFDs
By Editors | 21/07/2022
Two executives have been banned for eight years after their firm engaged in “unconscionable conduct” including the use of pressure selling tactics.
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