Korea Issues Revised Guidelines on Accounting Fraud Investigations

17/07/2023

The guidelines require external auditors to notify companies of any accounting fraud worth more than KRW 5 billion.

Market Infrastructure

APRA Finalises New Cross-industry Standard on Operational Risk

17/07/2023

Boards should pay particular attention to ventures that may give rise to material or novel operational risks, including activities associated with crypto assets.

Enforcement

Cigno, BHF Solutions Breached National Credit Act, Court Rules

15/07/2023

Australia’s Federal Court said the lending model the firms operated was specifically intended to avoid provisions of the National Credit Act.

Enforcement

Korea Prosecutors Arrest Three on Stock Manipulation Charges

14/07/2023

The trio allegedly generated $27.9mn in illicit profits by manipulating the stock prices of five companies, prosecutors said.

Capital / Liquidity

Hong Kong Proposes to Raise Bank Deposit Protection

14/07/2023

The Deposit Protection Board proposes to raise the bank deposit protection limit from HK$500,000 to HK$800,000.

Enforcement

SFC, AFRC to Jointly Target Misconduct By Listed Issuers

14/07/2023

The SFC and AFRC will work together to address misconduct involving dubious loans issued by listed companies to third parties.

Enforcement

SFC Fines Fund Manager for Failing to Segregate Client Funds

14/07/2023

The fund manager also issued inaccurate statements of accounts and failed to provide statements of accounts to clients within the prescribed time limit.

ESG / Sustainability

Verra to Help Indonesia Align Climate Projects with Global Standards

14/07/2023

Verra will work towards harmonising Indonesia’s climate change project registration system with its own registry.

Market Infrastructure

RBA Commences Overhaul Process after Comprehensive Review

14/07/2023

Starting 2024, the RBA will introduce new changes to the way the central bank is managed and how its board handles monetary policy.