Structural Regulation

ESMA Publishes Final Guidelines, Validation Rules for EMIR Refit

22/12/2022

ESMA published its final guidelines for reporting under EMIR, the final validation rules, and reporting instructions for outgoing and incoming messages.

Operational Risk

RBI Directs Banks to Improve Financial Statement Disclosures

22/12/2022

The RBI has asked banks to disclose more information when “Other Liabilities and Provisions” and “Other Assets” items exceed 1% of total assets.

PEPs & Sanctions

Canada to Seize Russian Assets to Finance Ukraine

22/12/2022

Canada will attempt to seize assets from a company owned by sanctioned Russian oligarch Roman Abramovich, and use the proceeds for Ukraine’s reconstruction.

Conduct, Culture & Accountability

SFC Fines Guosen for Regulatory Breaches Caused by Bugs

21/12/2022

Guosen Securities used expired standing authority of clients because its new operating system failed to send renewal notices to clients.

Reporting & Disclosures

CDP to Help Enhance Sustainability Reporting in Hong Kong

21/12/2022

A new Climate and Environmental Risk Questionnaire has been developed to help SMEs with sustainability reporting.

Reporting & Disclosures

Japan FSA Issues Draft Supervisory Guidelines for ESG Funds

21/12/2022

The FSA issued draft guidelines outlining the checks that will be performed by supervisors to ensure ESG investment trusts are true-to-label.

Supervision & Enforcement

US Regulator Orders Wells Fargo to Pay $3.7b for Violations

21/12/2022

Wells Fargo repeatedly misapplied loan payments, wrongfully foreclosed on homes and illegally repossessed vehicles, among other violations.

Conduct, Culture & Accountability

ECB Bars Officials from Making Short Term Trades

21/12/2022

High-level ECB officials can only invest in publicly listed, broadly diversified funds with a medium to long-term perspective.

Trading & Investment

HKEX Opens New York Office to Support International Clients

21/12/2022

HKEX says the New York office will make it easier to connect with investors, market participants and their intermediaries during their own working day.