Structural Regulation

TWSE to Enhance Timeliness of Disclosures by Listed Firms

08/08/2021

In 2022, some listed companies will have to start disclosing uncertainties about their ability to continue as a going concern based on unaudited financial information.

Alternative Markets

FSC Korea Issues Notice on Rule Changes for PE Funds

07/08/2021

A new classification system will distinguish between “general PEFs” and “institution-only PEFs”. PEFs will be subject to increased monitoring and external audits.

Conduct, Culture & Accountability

ASIC Sues Credit Firms for Failing to Cooperate with AFCA

06/08/2021

Two firms repeatedly engaged in disruptive, aggressive and uncooperative behaviour toward AFCA, a civil penalty offence since April 2019.

Fraud, Scams & Cybercrime

CSRC Penalises Yongcheng Coal, Executives for Fraud

05/08/2021

Yongcheng Coal and its executives were fined for fraudulent disclosures and for inflating its books. The company defaulted on a CNY 1 billion bond last year.

Payments & Settlements

RBI Issues Outsourcing Framework for Payment System Operators

05/08/2021

Payment system operators may not outsource core management functions such as risk management, internal audit and KYC compliance.

Anti-Money Laundering

Singapore: Woman Jailed for Helping to Launder Scam Proceeds

05/08/2021

Rohaiza Alap provided 25 bank accounts to scammers to launder S$2mn out of Singapore. She also recruited others to act as money mules.

Structural Regulation

CSRC Promises Increased Predictability of Policy Measures

04/08/2021

The CSRC says it will seek closer cooperation with the US SEC and enhance the transparency and predictability of policy measures.

Cryptocurrency

Bangladesh Bank Reiterates Ban on Cryptocurrency

04/08/2021

Bangladesh Bank sought to clarify its stance after reports emerged suggesting that crypto transactions are only illegal if they are linked to other crimes.

AI Risk & Governance

New BIS Paper Calls for Concrete Guidance on AI

04/08/2021

Common themes on AI governance create scope for the development of international guidance or standards, says a new paper from the Financial Stability Institute.