Fraud, Scams & Cybercrime

HK ICAC Charges Three Ex-StanChart Employees For Fraud

27/01/2022

The former relationship managers were among five individuals indicted for conspiring to deceive Japanese investors with false documents.

CBDCs

Bank of Korea to Advance CBDC Testing to Second Phase

26/01/2022

In phase two, BOK will test offline payments, remittances to accounts outside Korea, and the use of its CBDC as payment for NFTs.

Structural Regulation

Global Banks Seeking Clarity on China’s Overseas IPO Rules – Report

26/01/2022

An industry body has reportedly represented to the CSRC that global banks need more clarity on its new rules for domestic companies seeking overseas IPOs.

Trading & Investment

New Zealand FMA Approves First Passport Fund Under ARFP

26/01/2022

NZX-owned Smartshares Limited has become the first fund manager to be approved under the Asia Region Funds Passport scheme.

CBDCs

BIS Innovation Hub to Expand Work Programme in 2022

25/01/2022

The BIS Innovation Hub will launch new projects into CBDCs, payments systems, DeFi, green finance, regtech, suptech and cybersecurity.

Anti-Money Laundering

FinCEN to Allow FIs to Share SARs with Foreign Affiliates

25/01/2022

A limited-duration pilot programme would permit FIs to share SARs and information related to SARs with foreign branches, subsidiaries, and affiliates.

Structural Regulation

SGX Lists First Two SPACs Under New Framework

24/01/2022

Vertex Technology Acquisition Corp and Pegasus Asia listed last week. A third SPAC, filed by Novo Tellus Alpha Acquisition, will debut on Thursday.

KYC & CDD

Taiwan FSC to Explore Digital Identity Via Thematic Sandbox

24/01/2022

‘Digital Identity Authentication and Authorisation’ was selected as the theme for the sandbox, to promote more convenient and secure access to financial services.

Operational Risk

APRA Revises Reporting Frequency for New Operational Risk Standard

24/01/2022

APRA is revising the reporting frequency for the new operational risk standard from quarterly to annually.