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Fraud, Scams & Cybercrime
Philippine Banks, Telecom Partner to Combat Cybercrime, Fraud
By Editors | 30/08/2022
BAP member banks and Globe Telecom will share data and intelligence to help counter cybercrime and fraud threats.
Structural Regulation
US, Chinese Authorities Sign Audit Cooperation Deal
By Manesh Samtani | 29/08/2022
PCAOB inspectors will be on the ground in Hong Kong by mid-September to conduct their inspections of auditors of US-listed Chinese firms.
PEPs & Sanctions
US Lawmaker Seeks Clarity on Tornado Cash Sanctions
By Editors | 28/08/2022
US Congressman Tom Emmer says the designations against Tornado Cash wallet addresses are a “divergence from previous OFAC precedent”.
Anti-Money Laundering
BSP Calls for ‘Limited Amendment’ to Bank Secrecy Law
By Editors | 27/08/2022
BSP senior assistant governor Elmore Capule told a Senate Committee the BSP is looking for a “limited relaxation of the bank secrecy laws”.
Structural Regulation
US, China Nears Deal to Resolve Long-running Audit Dispute
By Editors | 26/08/2022
The CSRC has informed some accounting firms that US regulators may be visiting Hong Kong in September to inspect the audit records of US-listed Chinese companies.
Cryptocurrency
Malaysia SC Adds Huobi to Investor Alert List
By Editors | 25/08/2022
The Securities Commission said Huobi is operating a digital asset exchange without being registered with the regulator.
Cryptocurrency
FDIC Orders Crypto Firms to Correct Misrepresentations
By Editors | 24/08/2022
Five crypto firms were ordered to correct false representations stating or suggesting that certain crypto-related products are FDIC-insured.
Capital Adequacy
CFTC Extends No-action Relief for Foreign Nonbank Swap Dealers
By Editors | 24/08/2022
Nonbank swap dealers domiciled in Japan, Mexico, the UK and EU can rely on compliance with home country capital and financial reporting requirements until October 2024.
Clearing & Post-Trade
MOEX Stops Accepting USD as Collateral in FX, Securities Markets
By Editors | 24/08/2022
Russian authorities have been actively looking to reduce domestic reliance on the currencies of so-called ‘unfriendly’ nations.
Market Abuse
Academic Study Finds Broader Front-Running Problem at Coinbase
By Mark Johnston | 23/08/2022
University of Technology Sydney researchers estimate that insider trading occurred on 10-25% of new crypto listings at Coinbase between Sept 2018 and May 2022.
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