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Structural Regulation
India Financial Reporting Authority Seeks Auditor Oversight Powers
31/08/2021
The National Financial Reporting Authority is preparing a draft bill to propose to the government that will grant it greater financial autonomy and broader regulatory powers.
Conduct, Culture & Accountability
Seoul Court Rules Against FSS in DLF Mis-selling Case
31/08/2021
An FSS decision to ban Woori Financial Group Chairman Son Tae-seung from the financial industry for three years is effectively nullified.
Structural Regulation
Australian Govt Freezes ASIC Levy for Financial Advisers
31/08/2021
Treasury will review the ASIC Industry Funding Model to ensure it remains fit for purpose amid structural changes taking place in the advice industry.
Reporting & Disclosures
US SEC, BaFin Probe DWS Over ESG Investment – Reports
30/08/2021
The former global head of sustainability at DWS alleges that the firm overstated how many assets had been screened against ESG criteria.
Structural Regulation
China: Banks Asked to Comply with New WMP Rules Faster
30/08/2021
Banks are asked to start valuing newly invested fixed-term open-ended WMP assets based on market value starting from 1 September.
CBDCs
MAS Announces Finalists for Global CBDC Challenge
30/08/2021
The finalists include ANZ, Citibank, Consensys, HSBC, IBM, Soramitsu, Standard Chartered, among others. They will progress to an eight-week Acceleration Phase to further develop and refine their solutions.
Fraud, Scams & Cybercrime
HK Police Arrest Two in Corporate Fraud Case
30/08/2021
The arrests were made following a joint operation with the SFC against a listed company and its former senior executives suspected of corporate fraud involving HK$450mn.
Structural Regulation
UK Competition Authority Opens Inquiry into S&P-IHS Deal
30/08/2021
The Competition and Markets Authority will announce in October whether it will refer the merger for a Phase 2 investigation.
Structural Regulation
Shanghai to Get Upgrade as International Financial Centre
29/08/2021
Under a new policy plan, Shanghai will develop its asset management and fintech ecosystems, and enhance its role as a green finance and cross-border RMB hub.
Credit Risk
Thai Bankers’ Association Agrees to Facilitate Debt Restructuring
26/08/2021
Bank of Thailand and the Thai Bankers ’Association have agreed on measures to facilitate debt restructuring for long-term debtors.
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