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Australia to Expand AFCA Remit to Superannuation
By Sanday Chongo Kabange | 25/05/2023
Proposed changes will allow AFCA to hear complaints relating to superannuation whether or not they meet the definition of superannuation complaint in the Corporations Act.
First Citizens Sues HSBC for Hiring Ex-SVB Employees
By Sanday Chongo Kabange | 25/05/2023
First Citizens says a former SVB executive moved to HSBC and executed a scheme to “plunder” trade secrets.
Enforcement
NYDFS Fines Lender $4.25m for Breaching Cybersecurity Rules
By Mark Johnston | 25/05/2023
OneMain Financial Group failed to properly manage access privileges and conduct due diligence on third-party vendors, NYDFS said.
ESG / Sustainability
PITCH! REGTECH: ESG Data Needs to Be More Accurate
By Ranamita Chakraborty | 25/05/2023
Panellists at Regulation Asia’s PITCH! REGTECH conference said RegTech needs to be “creative” to help FIs manage ESG data.
Fintech / Regtech
PITCH! REGTECH: Drawing the Line Between RegTech and Frustrated Customers
By Karen Ng | 25/05/2023
As they embark on the RegTech race, banks cannot ignore frustrated customers.
Crypto / Digital Assets
TP ICAP Launches New Digital Assets Trading Platform
By Mark Johnston | 25/05/2023
The platform can be used for order matching and trade execution, with segregated custody and settlement done separately.
ESG / Sustainability
Singapore Launches Sustainable Finance Training for Asset Managers
By Ranamita Chakraborty | 25/05/2023
IMAS is introducing sustainable finance training courses to enhance capacity building within the asset management industry.
Enforcement
HK SFC Disqualifies Former Luxey International Directors
By Ranamita Chakraborty | 25/05/2023
A Hong Kong court found two former Luxey International directors responsible for fraudulently inflating the price of a corporate acquisition and pocketing the gains.
Fintech / Regtech
PITCH! REGTECH: Rising Digital Crimes Give Urgency to Fraud Detection
By Karen Ng | 25/05/2023
The prevalence of digital crimes has given urgency to the need by banks to develop cutting-edge fraud detection systems, says DBS Bank’s head of legal & compliance Lam Chee Kin.
Market Infrastructure
Five Eyes Agencies Warn of State Sponsored Cyber Attacks
By Editors | 25/05/2023
Chinese foreign ministry spokeswoman Mao Ning said the joint advisory is a “collective disinformation campaign” from the “empire of hacking”.
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