The FASB has decided to move away from the current impairment model in favour of fair value accounting for crypto assets.
Asset managers and retail investors are encouraged to more actively engage with their investee companies and participate in setting their strategic direction.
Indirect investments in crypto assets via derivatives and investment vehicles, as well as CBDCs, will be covered by CRS, rather than CARF.
Risk practitioners should establish risk monitoring systems that cover sustainability themes beyond climate change, said the FSA's Satoshi Ikeda.
The cap on banks' exposures to cryptoassets should be raised from 1% to 5% of tier 1 capital, and based on net rather than gross exposures. The infrastructure risk add-on should be scrapped.
ACRA is empowered to conduct inspections on accounting entities, compel them to remediate lapses identified, and impose sanctions when necessary.
The SFC is working with HKEX to develop a regulatory framework for listed company climate-related disclosures "based on the ISSB standards".
The next step before MiCA is formally adopted is for the European Parliament to vote on the proposal on Monday.
The AFRC can subject auditors who commit misconduct to penalties up to HKD 10 million, or three times profit gained, whichever is higher.
Banks must develop ESRM systems that assess environmental and social risks arising from their operations, products, services, transactions, activities, and operating environment.