LATEST NEWS

Australia to Align Timing of Super Payments With Wages

By Editors | 04/05/2023

Currently, employers pay superannuation quarterly, even though employees are paid in fortnightly or monthly pay cycles.

NZ FMA Directs Banks to Ensure Incentives Create Fair Outcomes

By Sanday Chongo Kabange | 04/05/2023

Banks must confirm by 31 May that they have removed incentives linked to sales measures for salespeople and managers.

ESG / Sustainability

ADB Unveils Climate Change Financing Programme

By ESG Investor | 04/05/2023

The programme targets the creation of $15bn in new loans for “much-needed” climate projects in the APAC region.

Hong Kong Mandatory Reference Checking Regime Now in Force

By Editors | 04/05/2023

The regime requires banks to conduct mandatory reference checks to fill specified positions, to address the issue of ‘rolling bad apples’.

AML / KYC

UK Government Announces New National Fraud Strategy

By Editors | 04/05/2023

Cold calls for financial products will be banned. Banks may be given more time to process payments to allow suspicious payments to be investigated.

Sanctions

EU to Extend Sanctions Regime to Cover Corruption

By Manesh Samtani | 04/05/2023

The EU would be able to target serious acts of corruption worldwide with travel bans and asset freezes, similar to the US Magnitsky Act.

Enforcement

SEBI Seeks More Time to Complete Adani Group Probe

By Editors | 04/05/2023

The probe has made slow progress because of difficulties obtaining information from foreign regulators. Some foreign funds have also refused to identify their beneficial owners.

Enforcement

ASIC Penalises Stockbroker for Mishandling Stock Buyback

By Editors | 04/05/2023

During an on-market buyback, Ord Minnett executed a pre-arranged transaction to buy shares at above-market prices, giving “preferential treatment” to the selling client.

Enforcement

Former CITIC Bank Exec Engaged in Insider Dealing, SFC Says

By Editors | 04/05/2023

The former executive of China CITIC Bank International made HK$3mn from using inside information to trade shares of Bloomage BioTechnology Corporation.