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AML / KYC
UK Sanctions 22 Russian Officials for Conscription Efforts
By Editors | 04/12/2022
The sanctions target officials who have promoted and enforced the conscription of citizens to fight in Russia’s “illegal war in Ukraine”.
Securities / Derivatives
JPX Acquisition to Improve English Disclosures by Listed Companies
By Editors | 04/12/2022
JPXI will acquire SCRIPTS Asia, which creates English transcripts of investor events held by listed companies and distributes them to domestic and overseas investors.
AML / KYC
Police Ad Test Highlights Hong Kong Scam Threat – Report
By Editors | 04/12/2022
A fake raffle webpage run by the police attracted nearly 300,000 visits in just two weeks, highlighting the surge of scam cases in Hong Kong.
Capital / Liquidity
APRA Finalises Standards on Recovery and Exit Planning
By Editors | 04/12/2022
The new standard will come into effect from 1 January 2024 for banks and insurers and from 1 January 2025 for RSE licensees.
Capital / Liquidity
HKFE Invites Firms to Support Development of FX Derivatives Market
By Editors | 04/12/2022
HKFE is seeking liquidity providers and market participants to support the development of liquidity in RMB and INR derivatives contracts.
BSP Issues Rules to Implement New Financial Consumer Protection Law
By Editors | 04/12/2022
The BSP will be able to adjudicate cases involving financial transactions that are of civil nature and order reimbursements up to PHP 10 million.
AML / KYC
US Banks Preparing to Accept More Liability for Zelle Frauds
By Editors | 04/12/2022
Under the planned rules, member banks would be responsible for certain fraudulent transactions made on the Zelle network, even if self-initated by the customer.
AML / KYC
FCA Fines Julius Baer UK Unit for Over ‘Corrupt’ Finders Fees
By Editors | 03/12/2022
Julius Baer improperly paid “corrupt” finder’s fees to a Yukos Group employee in exchange for business from the now-defunct Russian conglomerate.
Enforcement
US Financial Firms to Spend $18bn on Surveillance Tech This Year
By Editors | 03/12/2022
The increased spending comes after multiple financial firms were fined for failing to monitor and keep records on employees’ communications via messaging apps.
Big Picture
IOSCO Offers Guidance to Regulators on Investor Education, Protection
By Editors | 03/12/2022
IOSCO report proposes seven sound practices for regulators to consider when designing financial and investor education initiatives, particularly during periods of crisis.
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