Regulatory Updates
MAS Reaffirms Commitment to Safeguarding Customer Data Amid Growing Concerns
On 19 August 2024, in response to public concerns regarding the protection of national data by financial institutions (FIs), the Monetary Authority...
MAS Issues Nine-Year Prohibition Order Against Former OCBC Bank Representative, Mr. Hoi Wei Kit
On 19 August 2024, in a decisive move to uphold the integrity of Singapore's financial advisory sector, the Monetary Authority of Singapore (MAS)...
MAS Issues 1-Year Prohibition Order Against Former HSBC Representative Mr. Aw Jun Ray Reko Corinthians
On 19 August 2024, the Monetary Authority of Singapore (MAS) today announced the issuance of a one-year prohibition order (PO) against Mr. Aw Jun...
Google Faces $5 Million Lawsuit Over Malicious Crypto Wallet App on Play Store
On 15 August, 2024, Google has come under legal fire as it faces a $5 million lawsuit filed by Maria Vaca, who alleges that a fraudulent crypto...
IMF Advocates for Higher Energy Taxes on Crypto Miners and Data Centers to Curb Carbon Emissions
On 15 August, 2024, the International Monetary Fund (IMF) published a blog proposing significant increases in energy taxes aimed at crypto miners...
Goldman Sachs Embraces Bitcoin ETFs Despite Previous Scepticism; Hedge Funds Bullish on Crypto Miners
On 15 August, 2024, Goldman Sachs made headlines by disclosing significant investments in Bitcoin exchange-traded funds (ETFs) in its quarterly 13F...
SEC Charges 26 Financial Firms $392 Million for Widespread Recordkeeping Failures
On 14 August, 2024, the Securities and Exchange Commission (SEC) announced a landmark enforcement action against 26 broker-dealers, investment...
Nasdaq ISE Withdraws Proposals to Trade Bitcoin and Ether Trust Options Following Extensive SEC Deliberations
On 14 August, 2024, the Securities and Exchange Commission (SEC) Chairman Gary Gensler released a statement highlighting the growing influence of...
CFTC Orders Major Penalties for Recordkeeping, Supervision, and Communication Failures at Truist Bank, TD Bank, and Cowen
On 14 August, 2024, the Commodity Futures Trading Commission (CFTC) levied significant penalties on three prominent financial institutions—Truist...
US SEC and Latvijas Banka Join Forces to Strengthen Virtual Asset Oversight
On 13 August, 2024, in a significant step towards enhancing the security and resilience of the digital asset sphere, the United States and Latvia...
ASIC’s 2024 Financial Advice Update Highlights Compliance, Cybersecurity, Ethical Practices, and Investor Protection
On 9 August 2024, the Australian Securities and Investments Commission (ASIC) released it’s financial advice update that discusses the importance of...
Korea Fintech Week 2024: Pioneering the Future of Finance with AI and Global Innovation
On July 25, 2024, the Financial Services Commission (FSC) officially announced the schedule for this year’s highly anticipated Korea Fintech Week,...