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Regulatory Watch News
First Cloud Resilience Crisis Management Exercise by APAC Financial Regulators and Cloud Providers
MAS
Singapore, 15 November 2024… Asia Pacific financial regulators and global cloud service providers (CSPs) in the Financial Sector Cloud Resilience Forum[1], established by the Monetary Authority of Singapore (MAS), conducted a crisis management tabletop exercise on 6 November 2024. The exercise, which is the first of its kind in the region, simulated a severe public cloud incident disrupting multiple financial sectors across the region.
SFC sanctions Zuo Ping for breaches of the Takeovers Code
Securities and Futures Commission
The Securities and Futures Commission (SFC) publicly censured and imposed a six-year cold shoulder order (Note 1) against Ms Zuo Ping for breaching the mandatory general offer obligation under the Takeovers Code . Zuo made a number of acquisitions and disposals of shares in CBK Holdings Limited (CBK) on the market between 2 November 2023 and 20 November 2023. As a result of these transactions, her shareholding interest in CBK increased from 0% to 30.22% of CBK’s then issued share capital on 20 November 2023, triggering a mandatory general offer obligation under Rule 26.1 of the Takeovers Code. She did not make any general offer for CBK’s shares at that time.
Colombian man charged in Adelaide with debt bondage and servitude offences
Australia Federal Police
A Colombian national residing in South Australia is expected to appear in the Adelaide Magistrates Court today (15 November, 2024) after being charged with debt bondage and servitude offences. The AFP began an investigation into the man, 38, in early 2024, after receiving information that he allegedly subjected a small group of people from Venezuela to ongoing cruel, inhumane and degrading treatment
