Conduct, Culture & Accountability

Australian Court Fines AMP for ‘Fees for No Service’ Conduct

25/09/2022

The Federal Court said the conduct reflected “very poorly on the organisation culture” of AMP, fining its subsidiaries a total A$14.6mn.

Anti-Money Laundering

AMLC Philippines Issues Draft Rules for Anti-Human Trafficking Law

25/09/2022

Financial intermediaries will be required to monitor for and report financial activity and transactions suspected to be related to human trafficking.

Conduct, Culture & Accountability

RBI Issues New Standards for Compliance Function of UCBs

25/09/2022

Tier 4 UCBs and tier 3 urban cooperative banks are directed to appoint a chief compliance officer by 1 April 2023 and 1 October 2023, respectively.

Payments & Settlements

India Launches Three New Digital Payments Initiatives

24/09/2022

The three initiatives have the potential to revolutionise the digital payments ecosystem, said NPCI.

Market Abuse

China to Strengthen Cross-Agency Collaboration on Capital Market Crime

24/09/2022

Regulatory, law enforcement and prosecutorial agencies will cooperate to “treat both the symptoms and the root causes” that contribute to capital market crime.

Trading & Investment

CSRC Approves Six New Tech-Focused ETFs in Just Two Days

23/09/2022

The rapid approvals are said to be part of China’s efforts to quickly attain self-sufficiency in strategic high-tech sectors.

Cybersecurity

DTCC Warns of Risks from Quantum Computing Technology

23/09/2022

DTCC outlines steps firms should take to prepare for the emergence of new post-quantum cryptography standards. Final standards are scheduled for 2024.

Clearing & Post-Trade

AFME Considers Implications of an EU Move to T+1 Settlement

23/09/2022

AFME acknowledges the benefits of T+1 settlement but calls for an industry task force to be set up to conduct a detailed assessment.

Sustainable Finance

JPX Launches Pilot Trading in New Carbon Credit Market

23/09/2022

The TSE commenced pilot trading in J-Credits, which have been circulating on a voluntary basis in Japan since 2013. Trading began with 145 registered participants.