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Anti-Money Laundering
FSC Korea Starts Enforcing Travel Rule in Crypto Industry
By Editors | 24/03/2022
Starting today, VASPs can be subject to cautions, warnings or corrective orders if violations of travel rule requirements are found.
Cryptocurrency
FCA, BOE Offer New Guidance on Addressing Crypto Risk
By Editors | 24/03/2022
Cryptoassets should be classified as an intangible asset for accounting purposes, meaning that in most cases direct holdings should be fully deducted from CET1.
Market Abuse
Tokyo Prosecutors Indict SMBC Nikko Securities, Five Others
By Editors | 24/03/2022
Prosecutors have filed charges against SMBC Nikko Securities and five others. The head of the firm’s equity division was also arrested.
Conduct, Culture & Accountability
ASIC Probes Fund Managers for Misleading Marketing
By Sanday Chongo Kabange | 24/03/2022
ASIC is assessing whether fund managers made false or misleading statements or engaged in misleading or deceptive conduct when marketing their funds.
Supervision & Enforcement
RBNZ Raises Transparency of Regulatory Breaches by Banks
By Editors | 24/03/2022
The RBNZ has launched a new register to improve transparency about material breaches of key prudential requirements by banks.
Market Abuse
SET to Step Up Measures to Address Irregular Trading
By Editors | 23/03/2022
The Stock Exchange of Thailand has received SEC approval to tighten its market surveillance measures, effective from 4 April.
Fraud, Scams & Cybercrime
ACCC Launches Court Proceedings Over Crypto Ads on Facebook
By Editors | 23/03/2022
The ads contained links to fake media articles containing quotes attributed to public figures endorsing cryptocurrency or money-making schemes.
KYC & CDD
New Zealand Pledges to Enhance Beneficial Ownership Transparency
By Manesh Samtani | 23/03/2022
A new bill will require companies to provide accurate beneficial ownership information. A unique identifier will be assigned to all beneficial owners and directors.
Fraud, Scams & Cybercrime
CBIRC Warns of Crypto and Metaverse Frauds at College Campuses
By Darien Choong | 23/03/2022
The CBIRC’s Beijing bureau warns that concepts such as the metaverse and blockchain are being used to defraud local college students.
Anti-Money Laundering
FATF Spotlights ML/TF Risks Associated with Migrant Smuggling
By Manesh Samtani | 23/03/2022
Financial institutions have an important role to play in helping authorities profile migrant smugglers’ financial behaviour, the FATF says in a new report.
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