LATEST NEWS

Enforcement

APRA Removes NAB’s Capital Add-On for Operational Risk

By Sanday Chongo Kabange | 14/03/2024

APRA has removed the A$500mn capital add-on it imposed on NAB in 2019 to reflect higher operational risk identified in its risk governance self-assessment.

Capital / Liquidity

China Directs Banks to Stop Issuing Guarantees for LGFV Bonds

By Editors | 14/03/2024

An estimated $445bn worth of public bonds issued by local government financing vehicles need to be repaid by the end of 2024.

Crypto / Digital Assets

Crypto Major OKX Wins In-principle Approval in Singapore

By Ranamita Chakraborty | 14/03/2024

OKX will focus on spot products first while it works to bring local banking connections to customers “as soon as possible”.

China Pledges to More Support for Innovation, Green Development

By Editors | 14/03/2024

The NFRA is looking to enrich the green financial product ecosystem, and potentially using state-run asset managers to invest in innovative firms.

AML / KYC

UK to Allow Banks to Pause Payments if Fraud is Suspected

By Manesh Samtani | 14/03/2024

Proposed legislation will allow banks to pause payments for up to 72 hours while they contact customers and relevant third parties like the police.

Enforcement

Global Leaders Announce International Pact to Combat Fraud

By Mark Johnston | 14/03/2024

The new international agreement includes the G7 and Five Eyes nations, along with Singapore and South Korea.

Sanctions

EU Parliament Approves Rules Criminalising Sanctions Violations

By Editors | 14/03/2024

Sanctions violations and circumvention will be punished with up to five years in jail for individuals and fines for companies.

Securities / Derivatives

SEBI to Require More Stock Brokers to Meet Enhanced Obligations

By Ajoy K Das | 14/03/2024

SEBI is expanding the ‘Qualified Stock Brokers’ framework introduced last year to capture more brokers under “enhanced obligations”.

AML / KYC

US Court Convicts Alleged Founder of Crypto Mixer ‘Bitcoin Fog’

By Editors | 14/03/2024

Russian-Swiss national Roman Sterlingov was found guilty on four charges, though he maintained his innocence during the jury trial.