Climate Risk

FSB Finalises Guidance on Climate-related Financial Risks

13/10/2022

The guidance covers the collection of data from FIs, supervisory tools such as scenario analysis, and the development of macroprudential tools.

Conduct, Culture & Accountability

US SEC Probing Funds, Advisers on Staff Messaging Practices

13/10/2022

The SEC’s probe into the use of personal devices and messaging apps has reportedly expanded beyond broker-dealers to include investment funds and advisers.

Custody & Infrastructure

BNY Mellon Launches Digital Asset Custody Platform

13/10/2022

BNY Mellon is the first systemically important US bank to launch a crypto custody platform, leveraging technology from Fireblocks and Chainalysis.

Structural Regulation

US SEC Approves Update to Electronic Recordkeeping Rule

13/10/2022

The amendments add an audit-trail alternative allowing electronic records to be preserved in a way that permits recreation if original records are altered, over-written, or erased.

Conduct, Culture & Accountability

IOSCO Offers Guidance on Curbing Online Misconduct

13/10/2022

IOSCO’s new report offers recommendations to address risks from online marketing and distribution of financial products targeting retail investors.

Sustainable Finance

Hong Kong Launches Sustainable Finance Internship Initiative

13/10/2022

A centralised repository has been launched offering information about green and sustainable finance internship openings offered by FIs and other companies.

Operational Risk

APRA Orders RACQ to Uplift Risk, Compliance Frameworks

12/10/2022

APRA identified issues with RACQ’s risk and compliance framework and practices, unclear accountabilities, and an “immature risk culture”.

Conduct, Culture & Accountability

SFC Fines Asset Manager Over European Rule Breaches

12/10/2022

ARCM failed to implement adequate systems and controls to monitor its short position and ensure it was properly reported and disclosed to the public.

Reporting & Disclosures

ASIC is Investigating Firms for Possible Greenwashing

12/10/2022

The investigations involve super fund trustees, listed companies and one managed fund. Net-zero claims are a key area facing scrutiny.