MyComplianceOffice Blog

The Combatting Foreign Bribery (CFB) Bill aims to reform Australia’s foreign bribery offences. It passed Federal Parliament on 29 February 2024 and will come into effect six months after the Governor-General formally accepts it and provides Royal Assent.

The Monetary Authority of Singapore (MAS) has finalised its revision of competency requirements for representatives conducting regulated activities under the Financial Advisers Act 2001 (FAA) and the Securities and Futures Act 2001 (SFA).

MAS has now published its finalised response that addresses questions and feedback given concerning the 2020 Consultation Paper.

Finalised revisions will replace the current FAA Notice and SFA Notice and come into effect on 01 April 2024.

Hong Kong’s Securities and Futures Commission (SFC) has published its consultation conclusions on proposed amendments to enforcement-related provisions of the Securities and Futures Ordinance (SFO) (Note 1).

At a recent compliance round-table event in Hong Kong, compliance experts, executives, and chief compliance officers shared their firms’ challenges in keeping pace with regulatory change within the financial sector. They also discussed the increasing demands placed upon compliance teams, emerging opportunities, and the role of technology in more effectively managing regulatory risk and upholding compliance obligations.

After challenges with strict COVID restrictions and political issues in the last several years, Hong Kong is fighting to bolster its status as a global financial hub - and prove its unique advantage as the gateway between mainland China and the rest of the globe. As a result, technological developments and the regulations required to stay ahead of a rapidly evolving financial landscape are now a priority in the region.