Securities / Derivatives

China Proposes Rules to Improve Disclosures by Accounting Firms

29/10/2022

The rules are aimed at helping market entities understand the professional competence of individual firms so they can choose their auditor.

AML / KYC

Wolfsberg Group Updates Guidance on Correspondent Banking

28/10/2022

The updated Financial Crime Principles for Correspondent Banking includes guidance on what respondent banks may face when seeking a correspondent banking relationship.

Market Infrastructure

SWIFT Defers ISO 20022 Migration to March 2023

28/10/2022

The new start date is aligned with the ECB’s decision to delay the launch of T2. The new 20 March 2023 start date is “definitive”, SWIFT said.

Market Infrastructure

HKEX Suspends VCM on HSI Futures Due to Software Issue

28/10/2022

An external vendor is preparing a software update to fix an issue that caused the VCM to be inadvertently triggered on Tuesday.

ESG / Sustainability

SGX to Launch Futures Based on MSCI Climate Action Indexes

28/10/2022

Futures contracts based on MSCI’s new Climate Action Indexes will help investors reduce the carbon footprint of their portfolios and drive investment into climate transition efforts.

HKMA Streamlines Requirements on Use of Tech in Lending

28/10/2022

The streamlined requirements will help lenders accelerate the adoption of advanced data analytics in credit underwriting.

Capital / Liquidity

BOK Offers More Measures to Stabilise Korean Markets

28/10/2022

BOK eased its collateral policies and opened a new repo facility. The FSC adjusted the loan-to-deposit ratio. KSFC and KDB are providing liquidity to securities firms.

Enforcement

Australia Increases Penalties for Anti-Competitive Conduct

28/10/2022

Maximum penalties for companies can be as high as A$50mn, three times the benefit derived from a breach, or 30% of annual turnover.

ESG / Sustainability

SGX RegCo Consults on Independent Director Tenure Limit

28/10/2022

The consultation also proposes to require listed companies to disclose director and CEO remuneration in annual reports on a named basis.