AML / KYC

Australia Launches New Director ID Regime

07/11/2021

Directors will face penalties for not applying for a director ID on time, for providing false ID information, or intentionally applying for multiple director IDs.

HK Steering Group Reaffirms Green Finance Hub Ambitions

07/11/2021

The Steering Group welcomed initiatives from the IFRS Foundation and IPSF, saying it will continue efforts to develop Hong Kong into a carbon trading hub.

Enforcement

Prosecutors Abandon Criminal Cartel Case Against ANZ

07/11/2021

Prosecutors have decided to abandon the case against ANZ after being asked to refile their indictment a third time. The cases against Deutsche Bank and Citi will proceed.

Securities / Derivatives

SEC Approves PCAOB Framework for HFCAA Determinations

07/11/2021

The framework sets out how the PCAOB will determine that it is unable to inspect the foreign audit firm of a US listed company and force a delisting.

ESG / Sustainability

LSEG, JPX to Develop Climate Indices for Japan Equity Market

07/11/2021

The new indices will enable investors to reallocate capital based on the climate credentials and carbon performance of the constituent companies in the index.

AML / KYC

HKMA Launches AMLab Series to Experiment with Network Analytics

07/11/2021

Five banks will work with data experts to experiment with the use of data analytics and network diagrams in identifying suspected money mules.

Philippines Streamlines Bank Merger Application Processes

07/11/2021

A five agency agreement will see documentary requirements cut in half and total processing times reduced from 160 to 55 business days.

ESG / Sustainability

FCA Seeks Input on Disclosure, Labelling System for ESG Products

07/11/2021

The FCA is seeking views on product classification and labelling criteria for sustainable investment products, as well as asset manager and product-level disclosures.

ASIC to Assume Responsibilities for Financial Advice Industry

07/11/2021

Financial advisers providing personal advice to retail clients have to register with ASIC by 1 January 2023. ASIC will also administer the financial adviser exam.