Good afternoon, Subscribers! We hope you have had a productive, and above all a healthy week.
This week in APAC headlines, China announced plans to toughen law enforcement to curb monopolistic practices within the pharmaceutical industry, while Hong Kong's ICAC issued a reminder to the insurance sector, to take a proactive stance against corruption and financial crime.
In news out of the United States, a federal judge severely criticised the SEC over its whistleblower reward program, stating the rules to be amongst the "sloppiest" he had ever seen. In other news, SEC Commissioner Hester Peirce announced that while she does not expect the agency to formally introduce direct crypto regulation this year, she anticipates an SEC proposal to expand the definition of an "exchange", to curb financial crime risks.
In headlines out of EMEA, Swiss prosecutors are pursuing a USD$45.5m fine from Credit Suisse following alleged AML violations, while the National Council of Monaco adopted 2 bills that would considerably strengthen the fight against money laundering, terrorist financing, and acts of corruption.
As always, please feel free to reach out to us for updates on Live Jobs, Movers and Shakers, and Market Intelligence.
Movers and Shakers
TikTok - Catherine Razzano, Head Of Legal Compliance, from Panasonic. (Los Angeles)
Westpac - Ryan Zanin, Chief Risk Officer, from the Federal National Mortgage Association. (New York)
News of the Week
APAC
Hong Kong’s SFC faces staff shortages, increases budget to compete with financial firms.
Goldman banker goes on trial over Malaysia's 1MDB corruption scandal.
People’s Bank of China continues money laundering crackdown via new rules on customer transactions.
China Could Take Further Measures to Rein in Yuan Former Regulator.
SFC and HKMA Introduce Requirements for Hong Kong Licensed Firms and Banks Dealing with Virtual Assets and Virtual Asset Service Providers.
China’s Overseas Listing Rules Reduce Regulatory Uncertainty.
China’s Regulatory Plans for Technology Companies and the Platform Economy in 2022.
Hong Kong to Roll Out E-Yuan Pilot This Month.
China arrests former deputy banking regulator on bribery charges.
Americas
State officials urge SEC to probe if Apple misled investors on nondisclosure rules.
US regulators should block costly fintech loans, advocates say.
Colombia's progress in strengthening measures to tackle money laundering and terrorist financing.
US Treasury targets NFTs for potential high-value art money laundering.
Head of U.S. derivatives regulator urges key crypto role for agency.
SEC Chair Gary Gensler wants to know more about what hedge funds and private equity are doing.
Two Arrested for Alleged Conspiracy to Launder $4.5 Billion in Stolen Cryptocurrency.
The SEC subpoenas Tesla over one of Elon Musk’s tweets again.
SEC Chairman Gary Gensler embarks on ambitious regulatory agenda. What it means for investors.
SEC again delays decision on Grayscale’s Bitcoin ETF.
SEC Proposed Changes to Two Whistleblower Program Rules.
EMEA
BaFin Warns Investors of Crypto Trading Advices on Social Media.
EU supervisors recommend action to tackle digital finance developments.
Swiss bank faces money-laundering trial over Bulgarian drug funds.
FCA warns banks of Russian cyber attacks as Ukraine tensions ripple through European finance.
London is a ‘magnet for dirty money’, says UK government’s anti-corruption tsar.
Meta threatens to pull the plug on Facebook and Instagram in Europe over data privacy dispute.
Arion House Live Jobs
Director, Portfolio Compliance Manager @ Hong Kong based Corporate
Director, Asia Anti-Fraud Lead @ Multinational Insurance Company
VP, Principle, Legal & Compliance @ U.S. based Private Equity Firm
VP, Senior Racing Security & Integrity Assurance Manager (Investigations) @ Hong Kong based Corporate
VP/Director, Head of Hong Kong Compliance @ Multinational Asset Manager
VP, PWM Compliance Manager, Deputy Head @ Multinational Investment Bank
Senior Consultant (Asset Management) @ Multinational Consultancy
Senior Consultant (Capital Markets) @ Multinational Consultancy
AVP/VP, Compliance Manager, Warrants @ Hong Kong Investment Bank
AVP, Compliance Testing @ European Investment Bank
Consultant @ Multinational Consultancy
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