PEPs & Sanctions

UK Discloses Russia Sanctions Breach by Wise Payments

01/09/2023

The disclosure is meant to act as a form of censure and deterrent, while also providing compliance lessons. No monetary penalty was imposed.

Supervision & Enforcement

Almost 100 Superannuation Products Fail APRA Performance Test

31/08/2023

AMG MySuper failed the test for the third consecutive year; 96 trustee-directed products also failed the test.

Fraud, Scams & Cybercrime

Korea Reopens Investigations into Handling of Lime Funds

31/08/2023

Search and seizure operations were carried out at two securities firms on Thursday. Additional inspections at a third firm.

Payments & Settlements

India, New Zealand Start Talks on UPI-based Payments Link

30/08/2023

NPCI and Payments NZ are in early discussions regarding the use of the UPI system to establish a cross-border payment link.

Supervision & Enforcement

US SEC Fines Citigroup for ‘Wilful’ Record-Keeping Violations

30/08/2023

The SEC said Citigroup Global Markets used an “unsubstantiated and unverified” method to calculate and record indirect expenses associated with its underwriting work.

Capital Adequacy

FSB Commences Review of Post-GFC Securitisation Reforms

30/08/2023

The FSB will assess the extent to which the securitisation reforms are achieving their intended objectives.

Clearing & Post-Trade

KSD-Clearstream Trading Link to Open in H1 2024

30/08/2023

KSD’s agreement with Clearstream comes just a day after it signed a similar agreement with Euroclear, to open access to Korean government bonds.

Trading & Investment

Taiwan Allows Domestic Stocks to be Used as Collateral Overseas

30/08/2023

The measure will allow foreign investors to participate in overseas investment activities without having to sell their positions in Taiwan stocks.

Data Privacy

Australia Consults on CDR Expansion to Non-bank Lenders

30/08/2023

The Consumer Data Right regime will apply to the non-bank lending sector in stages, starting from 1 November 2024.