AI Risk & Governance

Govt Support Needed in AI, Big Data Industry: FTAHK

25/05/2022

Survey respondents said government support is needed to drive education and promote fairness, ethics, accountability and transparency in the industry.

Data Privacy

Singapore, Switzerland to Promote Cross-border Data Connectivity

25/05/2022

MAS and SIF will work towards enabling data flows (including personal information) within financial groups, supported by free choice of location for data storage and processing.

Reporting & Disclosures

US SEC Fines BNY Mellon Unit for ESG Misstatements

25/05/2022

BNY Mellon Investment Adviser stated in documents that all investments in its funds had undergone an ESG quality review, but that this was not always the case.

Cryptocurrency

CME to Launch Crypto Reference Rates, Indices in Euro

24/05/2022

New non-tradable EUR-denominated reference rates and real-time indices for Bitcoin and Ether will be published starting 6 June.

Conduct, Culture & Accountability

CSRC Revises Rules for Managers of Publicly Offered Funds

24/05/2022

The rules increase emphasis on ethical conduct and governance, loosen licensing restrictions, and allow public fund managers to outsource operations.

Cybersecurity

SEBI Updates Market Infrastructure Cyber Security Framework

24/05/2022

Stock exchanges, clearing corporations, and depositories are required to conduct a comprehensive cyber audit at least twice each financial year.

Payments & Settlements

CSRC to Fully Implement DvP Settlement in Securities

24/05/2022

The rules taking effect on 20 June will enable DvP settlement for institutional investors and reduce the reserves settlement participants have to hold.

Capital Adequacy

ISDA Analysis Shows Effectiveness of Crypto Hedging

24/05/2022

The analysis suggests that a less punitive capital framework should be considered for banks’ exposures to Bitcoin and Ethereum.

Market Abuse

Seoul Prosecutors Revive Specialised Financial Crime Team

24/05/2022

A joint investigations team that was disbanded in January 2020 has now been reinstated to respond to financial and securities crimes.