Anti-Money Laundering

EU Council Agrees Position on Bloc-Wide AML Authority

06/07/2022

The AMLA will directly supervise certain types of credit and financial institutions, including crypto asset service providers, starting in 2026.

Clearing & Post-Trade

Vietnam Securities Market to Move to T+2 Settlement Cycle

06/07/2022

Under draft regulations, clearing banks will have to complete payment and securities settlement between 11.30am and 12.30pm on T+2.

Market Data & Technology

JPX Launches ‘J-Quants’ Data Service for Retail Investors

06/07/2022

The service aims to address the difficulties retail investors face in accessing and using raw financial data for investment analysis and decision-making.

Fraud, Scams & Cybercrime

Hong Kong Police Arrest Eight in Joint Operation With SFC

06/07/2022

The joint operation involved a loan granted by a listed company to a related party and payments purportedly made to suppliers that instead went to related parties.

PEPs & Sanctions

UK Sanctions More Russians, Restricts More Belarusian Trade

06/07/2022

Last week, the UK Parliament’s Foreign Affairs Committee published a report calling on the government to “act now” to tackle the flow of illicit finance through London.

Emerging Prudential Risks

MAS Issues Guidelines on Islamic Banking in Singapore

06/07/2022

The main risk which is unique to Islamic banks is Shariah compliance risk – where noncompliance with Shariah rulings carries “significant reputational risk”.

Anti-Money Laundering

Korea FSS Expands Banking Industry Probe into FX Trading

06/07/2022

The probe was prompted by abnormal trading activity at Woori and Shinhan Bank. Other banks have been asked to conduct internal inspections.

Structural Regulation

UK to Codify Tax Exemptions for Sovereign Investors into Law

05/07/2022

The proposals seek to ensure the tax exemptions provided to sovereign investors are more targeted towards investment rather than trading income.

Anti-Money Laundering

AUSTRAC Issues Update on Reporting System Enhancements

05/07/2022

AUSTRAC has commenced development of a new CRM platform which will enable it develop enhanced self-service capabilities in AUSTRAC Online.