Conduct, Culture & Accountability

ASIC Offers Recommendations on Improving Auditor Practices

24/10/2022

ASIC conducted a thematic review on root cause analysis practices at the six largest audit firms, ahead of ASQM 1 coming into effect on 15 December 2022.

Trading & Investment

Bangladesh: Slow Start for Govt Bond Trading on Exchanges

24/10/2022

Government bonds can now be traded on Bangladesh’s stock markets, but only very few trades have taken place so far.

Supervision & Enforcement

FCA Seeks £50m Penalty from Barclays for 2008 Deals

24/10/2022

Barclays did not disclose payments made to Qatari entities for their participation in two capital raisings during the GFC in 2008.

CBDCs

BIS Innovation Hub, HKMA Publish Project Aurum Findings

24/10/2022

A two-tier prototype system was developed to test intermediated CBDC as well as stablecoins backed by CBDC in the interbank system.

Credit Risk

HKMA Issues New Guidance on Investment Product Sales

24/10/2022

The new guidance covers investment product suitability, concentration risk assessments, and the sale of loss-absorption products.

Liquidity Risk

Korea to Buy Up Corporate Debt to Stabilise Markets

24/10/2022

Korea’s government has pledged KRW 50 trillion to buy up corporate debt, defer the return to 100 percent LCR, and supply liquidity to securities firms.

Conduct, Culture & Accountability

Taiwan Revises Corporate Governance Norms for FHCs, Banks

24/10/2022

The FSC is seeking to strengthen controls around the interactions and communications between financial institutions and their major shareholders.

Anti-Money Laundering

NZ DIA Lists Common Areas of AML Non-Compliance

24/10/2022

Common areas of non-compliance related to AML/CFT risk assessments, staff training, PEP identification, and compliance monitoring, among other areas.

Anti-Money Laundering

Singapore Jails Former Bank Officer Over Shell Company Setups

24/10/2022

The former bank officer recruited nominee directors to set up shell companies and open bank accounts for use by unidentified individual based overseas.