Payments & Settlements

UK Regulator Fines Barclays Over Non Transparent Card Fees

04/12/2022

Barclays was fined by the PSR for failing to give retailers full information about the costs of its card services for three years.

Cryptocurrency

FTX Japan to Allow Withdrawals Starting in January

04/12/2022

Under Japanese law, crypto businesses are required to keep users’ assets segregated, shielding FTX Japan from the bankruptcy proceedings in the US.

PEPs & Sanctions

G7 Powers Set to Implement Oil Price Cap on Russian Crude

04/12/2022

EU ban on seaborne crude oil imports from Russia to take effect. G7 oil price cap will only insurers to cover vessels carrying Russian crude sold under USD 60.

PEPs & Sanctions

EU Proposes to Use Russian Assets to Rebuild Ukraine

04/12/2022

Frozen Russian assets would be actively managed to generate a “stable and fair net return” to help fund reconstruction efforts in Ukraine.

Conduct, Culture & Accountability

China Targets Investment Banking Controls at Securities Firms

04/12/2022

CSRC penalises multiple securities firms. New evaluation system will lead to more intense supervision of firms with lower-quality investment banking practices.

PEPs & Sanctions

UK Sanctions 22 Russian Officials for Conscription Efforts

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”.

Market Data & Technology

JPX Acquisition to Improve English Disclosures by Listed Companies

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.

Fraud, Scams & Cybercrime

Police Ad Test Highlights Hong Kong Scam Threat – Report

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.

Resolution & Recovery

APRA Finalises Standards on Recovery and Exit Planning

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.