LATEST NEWS

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    Market Infrastructure

    Australia: More Guidance Issued to Support FAR Implementation

    By Editors | 15/03/2024

    On top of guidance for banks, APRA and ASIC issued a consultation on FAR implementation for insurance and superannuation entities.

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    Fintech / Regtech

    Artificial Intelligence Act Passed by European Parliament

    By Mark Johnston | 15/03/2024

    Members of Parliament voted to adopt the final text of the EU AI Act, which will seek to promote AI innovation while also defending against risks.

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    Market Infrastructure

    ASX Consults on Two-Stage Approach for CHESS Delivery

    By Sanday Chongo Kabange | 15/03/2024

    ASX is targeting Q1 2026 for implementation of the first stage of the new CHESS system, and 2028 or 2029 for the second stage.

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    AML / KYC

    GCFFC Offers Guidance on Using AI to Fight Financial Crime

    By Manesh Samtani | 15/03/2024

    The guidance describes how FIs are using AI to fight financial crime and identifies opportunities to improve AML/CFT effectiveness.

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    ESG / Sustainability

    Net-Zero Banking Alliance Issues Revised Guidelines

    By Ranamita Chakraborty | 15/03/2024

    The revised guidelines require NZBA members to set climate targets for their capital markets activities for the first time.

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    Crypto / Digital Assets

    SFC Issues Warning Against Crypto Products from Bybit

    By Sanday Chongo Kabange | 15/03/2024

    The warning refers to the Seychelles company Bybit Fintech Limited, and not the HK-incorporated Spark Fintech Limited, which has applied for an SFC licence.

    Enforcement

    RBI Seeks Information from Banks on Gold Loan Frauds

    By Ajoy K Das | 15/03/2024

    RBI asked banks to review their gold lending processes after some banks were found to have manipulated the system to meet gold loan targets.

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    Securities / Derivatives

    SEBI Flags Manipulation, Bubble Risks in SME Segment

    By Ajoy K Das | 15/03/2024

    SEBI is working to introduce more disclosures for SME listings and seeking stress test results from fund managers in the segment.

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    Enforcement

    Australian Court Rules Against ASIC in ‘Finder Earn’ Crypto Case

    By Editors | 15/03/2024

    The court ruled against ASIC’s contention that the crypto investment product known as ‘Finder Earn’ was a debenture and therefore required authorisation.

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    Korea: Woori Achieves Full Privatisation 26 Years After Bailout

    By Editors | 15/03/2024

    Woori Financial Group, born through a merger of banks in the aftermath of the Asian financial crisis in 2018, is now fully privatised.

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