IASB Wraps Up Technical Work on Two New Accounting Standards

31/07/2023

The IASB advances financial reporting transparency with the finalisation of two new IFRS Accounting Standards, poised for a 2024 debut.

AML / KYC

More Officials Under Probe as China Broaden’s Anti Corruption Campaign

31/07/2023

Beijing intensifies anti-corruption efforts, investigating a high-ranking rural banking official and expelling another four senior Communist Party officials.

Market Infrastructure

BOJ Surpises Market With Tweak to Monetary Policy Stance

31/07/2023

The tweak is seen as a small step towards normalisation. Analysts have warned that the BOJ’s monetary policy stance harms the economy and distorts the bond market.

Fintech / Regtech

MAS Targets End to Corporate Cheques by 2025

31/07/2023

Singapore to eliminate corporate cheques by 2025 and transition users to e-payment solutions, amid rising cheque processing costs.

Crypto / Digital Assets

Digital Yuan Being Used for Clearing Commodity Spot Trades

30/07/2023

Industrial Bank is the first bank to incorporate digital RMB into commodity spot trading, paving the way for future advancements in this area.

Consumer Complaints Reach Record High, says AFCA

30/07/2023

The rise in complaints is attributed scams, insurance claim delays, and banking disputes, AFCA said.

Enforcement

FSS Korea Completes Inspections of CFD Businesses

30/07/2023

The FSS said it will take “stern measures” against illegal acts identified from the inspections, which covered three major securities firms.

Securities / Derivatives

SHFE Launches Trading in Synthetic Rubber Futures

30/07/2023

The new futures and options contracts are the world’s with butadiene rubber as the underlying commodity.

ESG / Sustainability

Japan Names 17 Firms That Endorse New Code of Conduct on ESG Data

30/07/2023

Endorsers include Bloomberg LP, Clarity AI, FTSE Russell, ICE, ISS ESG, Moody’s Japan, Morningstar Sustainalytics, MSCI ESG Research, Refinitiv, and S&P Global Ratings Japan.