Cryptocurrency

Industry Working Group Opens Consultation on IVMS101 Enhancements

18/07/2023

The working group was formed in April and has met five times since to consider and approve revisions to the IVMS101 standard.

AI Risk & Governance

UNSC Hosts First-Ever Session on Artificial Intelligence

18/07/2023

UK Foreign Secretary James Cleverly called for urgent international cooperation in shaping the governance of AI.

Anti-Money Laundering

US Lawmakers Examine Criticism of FinCEN Beneficial Ownership Rule

18/07/2023

Witnesses criticised FinCEN for introducing overly complex rules and failing to account for the reporting burden on small businesses.

Conduct, Culture & Accountability

Australia: Big 4 Accused of Operating ‘Beyond the Law’

18/07/2023

Former KPMG partner Brendan Lyon called for changes in how the accounting profession is regulated to restore public trust and ensure integrity in financial reporting.

Fraud, Scams & Cybercrime

CSRC Fines GF Securities for Poor Due Diligence in Stock Sale

18/07/2023

GF Securities received an advance notice of administrative penalties from the CSRC connected to a 2018 share issuance by Misho Ecology & Landscape.

Conduct, Culture & Accountability

UK FCA Proposes New Guidance to Tackle Unlawful Social Media Promotions

18/07/2023

The guidance discusses how the use of ‘finfluencers’ and memes on social media could potentially breach the FCA’s rules on financial promotions.

Trading & Investment

China Looking to Shore Up Confidence Among Foreign Investors

18/07/2023

Regulators are organising a meeting in Beijing this Friday to discuss the challenges faced by foreign investors and encourage them to maintain their presence in China.

Climate Risk

IOSCO Issues Final Recommendations on Compliance Carbon Markets

18/07/2023

IOSCO’s final report sets out twelve key recommendations on establishing and enhancing compliance carbon markets, drawing from the experiences of traditional financial markets.

Anti-Money Laundering

EU Commission Takes Action Against Cyprus for 5AMLD Implementation Failures

18/07/2023

The European Commission says it has identified multiple instances of incorrect transposition of 5AMLD, despite Cyprus declaring full compliance with the directive.