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Supervision & Enforcement
SEBI Enters MOU with Luxembourg Securities Regulator
By Editors | 07/06/2021
The MOU will facilitate mutual assistance, supervisory cooperation, and effective enforcement in the securities markets.
Fraud, Scams & Cybercrime
US DOJ Forms Ransomware and Digital Extortion Task Force
By Editors | 06/06/2021
The task force will be used to coordinate efforts to combat ransomware attacks, which will now be treated with the severity of terrorism threats.
Anti-Money Laundering
HK Customs Arrests Two for Laundering $5.6 Million
By Editors | 06/06/2021
Two people were arrested for using personal bank accounts to receive payments from the sale of counterfeit goods and launder money.
Cryptocurrency
Hong Kong’s Proposed Licensing Regime for VASPs
By Michael P Wong | 06/06/2021
Dechert partner Michael Wong looks at the potential impact of Hong Kong’s newly proposed licensing regime for virtual asset service providers.
Anti-Money Laundering
APG Publishes 2nd Follow-up Report on Pakistan
By Editors | 04/06/2021
Pakistan had requested a re-rating on 23 FATF Recommendations: 21 were upgraded, one was not re-rated, and one was downgraded.
Anti-Money Laundering
Shenzhen, Guangzhou Order Microfinance Firms to Halt Property Lending
By Sanday Chongo Kabange | 04/06/2021
Financial authorities in Guangzhou and Shenzhen have ordered microfinance companies to stop providing credit for estate assets and investments.
Anti-Money Laundering
Philippine Financing, Lending Firms Must Register with AMLC by 21 June
By Editors | 04/06/2021
Newly covered financing and lending companies that fail to register with the AMLC by 21 June will incur penalties.
Fraud, Scams & Cybercrime
MAS Bans Former Representative Over Forgery Conviction
By Editors | 04/06/2021
The former representative deceived online platform OANDA into crediting money into his personal trading account through forged screenshots of a bank transfer.
Anti-Money Laundering
FCA Extends Temporary Registrations Regime for Cryptoasset Firms
By Sanday Chongo Kabange | 04/06/2021
A “significantly high number” of cryptoasset businesses are not meeting AML/CTF standards, a key part of obtaining registration with the FCA.
KYC & CDD
HKIFA Warns Against Concealing Company Director Information
By Editors | 04/06/2021
The government proposal to stop requiring companies to reveal certain information about directors will hinder fund managers’ ability to conduct due diligence.
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