AML / KYC

EU States Start Closing Access to Beneficial Owners Registers

28/11/2022

Luxembourg, Netherlands, Belgium, Austria and Malta have closed public access to their beneficial ownership registers following an EU Court of Justice ruling.

Market Infrastructure

India Publishes New Data Protection Bill for Consultation

25/11/2022

The bill will ease India’s data localisation requirements, allowing data fiduciaries to transfer personal data to countries that are approved by the government.

Fintech / Regtech

ZA Bank, Wise Partner to Offer International Remittances

24/11/2022

ZA Bank will offer a “hassle-free service to users, without worrying about any foreign exchange markup, hidden charges and transfer progress.”

Market Infrastructure

UK FCA Publishes Consultation on Synthetic USD LIBOR

24/11/2022

The FCA proposes that the 1-, 3- and 6-month USD LIBOR settings will be published under a synthetic methodology until end September 2024.

Big Picture

ASIFMA Offers Recommendations for Korean Capital Markets

23/11/2022

ASIFMA offers three recommendations to further strengthen Korea’s capital markets and improve access for global institutional investors.

Fintech / Regtech

ASIC Releases API for Reportable Situations Submissions

23/11/2022

The API provides a machine-to-machine interface solution to submit notifications about reportable situations, removing the need to manually input information into ASIC’s form.

AML / KYC

UK Parliamentary Report Calls for Overhaul of Approach to Fraud

21/11/2022

The report says “failure to prevent fraud” should be introduced as a new corporate criminal offence, along with significant financial penalties.

Crypto / Digital Assets

FTX’s “Complete Failure” of Corporate Controls, Worse Than Enron

18/11/2022

Restructuring specialist John J Ray says FTX’s failure is the worst he has ever seen, citing control failures and the “complete absence” of trustworthy financial information.

AML / KYC

Medibank Customers Face Continued Threat of Data Leaks

17/11/2022

Medibank refused to pay a $10m ransom to hackers, who have since released information linking individuals to drug addiction, alcohol abuse, abortions and mental health treatment.