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ESG / Sustainability
NYDFS Proposes Guidance on Climate Risk Management
By Editors | 27/12/2022
The guidance focuses on corporate governance; internal control framework; risk management process; data aggregation and reporting; and scenario analysis.
Securities / Derivatives
Thai SEC Launches New Mutual Fund Comparison Tool
By Editors | 27/12/2022
The SEC began developing the “SEC Fund Check” application in Q2 2019. A separate application called “SEC Bond Check” is also under development.
WTO Rules Against US in Hong Kong Labelling Dispute
By Editors | 23/12/2022
A WTO panel found that the US violated an obligation towards Hong Kong by giving it less favourable treatment than other WTO members.
AML / KYC
FTX, Alameda Execs Plead Guilty to US Fraud Charges
By Manesh Samtani | 23/12/2022
Caroline Ellison and Gary Wang are cooperating with the investigation into FTX, Alameda and Sam Bankman-Fried, who has been extradited to the US.
AML / KYC
Co-Founder of OneCoin Pleads Guilty to Fraud
By Editors | 22/12/2022
Karl Sebastian Greenwood faces a maximum of 60 years in person. Co-conspirator Ruja Ignatova is on the FBI’s most wanted list.
Crypto / Digital Assets
FINRA Issues Additional Guidance on Ransomware Risk
By Sanday Chongo Kabange | 22/12/2022
Attacks have proliferated due to the increased use of technology, continued adoption of cryptocurrencies, and the emergence of Ransomware-as-a-Service models.
Citigroup Litigation in Revlon Dispute Comes to an End
By Editors | 22/12/2022
Citigroup reached an agreement with ten remaining Revlon lenders for them to repay the bank USD 504 million for mistakenly sent wire transfers.
Fintech / Regtech
Five Steps to Address E-Comms Risk and Avoid Regulatory Penalties
By Rupal Patel | 22/12/2022
The industry is playing catch up with the impact of working from home and must ensure e-comms risk is managed in a better way, says Rupal Patel at Acin.
Enforcement
US, Brazil Settle Honeywell Bribery Charges for Over $200m
By Editors | 22/12/2022
Manufacturing conglomerate Honeywell will pay $120mn to Brazilian authorities, $39.4mn to the DOJ, and $42.3mn to the SEC.
Enforcement
US Regulator Orders Wells Fargo to Pay $3.7b for Violations
By Editors | 21/12/2022
Wells Fargo repeatedly misapplied loan payments, wrongfully foreclosed on homes and illegally repossessed vehicles, among other violations.
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