Enforcement

US SEC Issues Record-breaking $279m Whistleblower Award

08/05/2023

The size of the award should incentivise whistleblowers to come forward about potential securities law violations, said the SEC’s Gurbir Grewal.

ESG / Sustainability

World Bank Assesses Bank Exposures to Nature-related Physical Risk

08/05/2023

New paper provides high-level analysis that policymakers can use to induce a “transformative shift” towards nature-positive activities and production processes.

Enforcement

China’s SAFE Fines Bank of Shanghai for FX-related Violations

08/05/2023

The fine is the largest issued against a Chinese bank this year. In 2022, Bank of Shanghai had more complaints against it than any other corporate bank.

Enforcement

Singapore Lays Three More Charges Against Hyflux Founder

07/05/2023

Singapore’s Public Accountants Oversight Committee has also issued orders against Hyflux auditors from KPMG LLC for five years of financial statements.

Capital / Liquidity

US SEC Probing Insider Trading by First Republic Execs – Report

07/05/2023

The SEC is looking into whether executives of First Republic improperly traded on inside information before the government seized the bank and sold it to JPMorgan.

Capital / Liquidity

Hong Kong Financial System Remains Resilient: IMF Staff

07/05/2023

IMF staff said credit risk will “likely continue to materialise”, and banks should properly recognise and provision for credit losses, including those from Mainland property exposures.

Securities / Derivatives

China: AMAC Proposes Additional Requirements for Private Securities Funds

07/05/2023

PE funds must have at least 10mn yuan under management to remain in operation. Firms with more than 2bn yuan under management will have to undergo regular stress tests.

ESG / Sustainability

LMA Publishes Model Provisions for Sustainability-linked Loans

07/05/2023

The model provisions provide a basic drafting framework to assist parties in the negotiation of documentation for sustainability-linked loans.

Enforcement

NYDFS Fines BitFlyer for Deficient Cybersecurity Programme

07/05/2023

BitFlyer USA did not perform risk assessments, implement a written cybersecurity policy, or conduct annual reviews. The firm said it has completed over 90% of its planned remediation work.