Enforcement

Hong Kong ICAC Files Criminal Charges Against Former AXA Agents

15/09/2021

Three ex-insurance agents allegedly conspired to defraud AXA of HK$1.2mn in commissions and bonuses, and to launder over HK$2.7mn in crime proceeds.

Enforcement

PCAOB Fines KPMG Australia Over Training-related Misconduct

15/09/2021

Cheating in online training tests was found to be widespread within the audit practice. KPMG Australia sanctioned 1,131 individuals.

Capital / Liquidity

CBIRC Drafts Liquidity Risk Management Rules for WMPs

15/09/2021

Wealth management firms must continually monitor liquidity risk in wealth management products as well as the assets in which they invest.

Market Infrastructure

HKEX to Roll Out New Market Access Platform on 27 September

15/09/2021

The change is expected to improve latency, deliver higher performance, and provide greater flexibility to implement new functionalities in the future.

Enforcement

SEBI Settles YES Bank Case of Selective Disclosures

15/09/2021

YES Bank allegedly made selective disclosures regarding its asset quality, and did not disclose regulatory breaches identified by the RBI.

Big Picture

Australia Can Do More to Facilitate Sustainable Recovery: OECD

15/09/2021

The OECD recommends the creation of a roadmap for improving reporting of climate-related risks by listed companies and financial institutions.

Capital / Liquidity

MAS Issues Draft Standards for Market Risk Capital

15/09/2021

MAS seeks feedback on draft provisions in Notice 637 relating to market risk capital and capital reporting requirements.

Enforcement

Australia: Members Equity Bank Facing 62 Criminal Charges

15/09/2021

ASIC says ME Bank made false or misleading representations about interest rates and repayment amounts to home loan clients.

Market Infrastructure

Southbound Bond Connect to Launch on 24 September

15/09/2021

Southbound trading under Bond Connect will have an initial daily quota of CNY 20 billion and an annual quota of CNY 500 billion.