Data Privacy

Australia: Medibank Faces Four Class Actions Over October Cyberattack

09/05/2023

The Federal Court is expected to consolidate the class actions. Medibank is also facing an investigation from Australia’s privacy regulator.

PEPs & Sanctions

EU Commission Proposes Sanctions Against Chinese Companies

09/05/2023

The proposals also include sanctions on Iranian companies, measures to restrict sales of certain products to third countries, and powers to ban oil tankers that conceal their location.

Cybersecurity

BIS to Test Quantum Resistant IT Environments for Financial System

09/05/2023

“Project Leap” will test the ability of a quantum-resistant algorithm to maintain the confidentiality of payment messages transmitted between Banque de France and Deutsche Bundesbank.

Reporting & Disclosures

New Zealand XRB Issues New Guidance on Climate-related Disclosures

08/05/2023

The guidance aims to support entities in preparing climate-related disclosures and to foster consistency through “clarity of understanding”.

Sustainable Finance

SEBI Enhances Disclosure Requirements for Transition Bonds

08/05/2023

Transition bonds were added to SEBI’s framework for green debt securities in February. The additional disclosures seek to ensure funds raised are not misallocated.

Payments & Settlements

Indonesia, Malaysia Expand Cross-Border QR Payment Link

08/05/2023

The linkage will provide “faster, cheaper, more transparent and more inclusive cross-border payments”, said Bank Indonesia governor Perry Warjiyo.

Cryptocurrency

US SEC Ordered to Respond to Coinbase Petition Within 10 Days

08/05/2023

The SEC must indicate whether or not it will provide formal rule-making for the digital assets sector, and the reasons for its decision.

Supervision & 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.

Nature & Biodiversity

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.