Structural Regulation

PCAOB Adopts Rule on Delisting ‘Non-compliant’ Chinese Firms

29/09/2021

The new rule could result in mass delistings of Chinese companies from the US market in 2024 unless the PCAOB is granted access to inspect Chinese audits.

CBDCs

Central Banks Create Prototype Platform for mCBDC Settlements

28/09/2021

The prototype platform was able to complete international transfers and foreign exchange operations in seconds while also lowering the cost of cross-border operations.

Cloud & Infrastructure

HKMA Issues Guide on Regtech Adoption for GRC

28/09/2021

The guide outlines common challenges associated with regtech adoption for GRC and describes how successful firms have addressed these challenges.

Cybersecurity

FIs Increasingly Sharing Data to Prevent, Mitigate Cyberattacks

28/09/2021

Global cyber intelligence sharing among financial institutions increased 60 percent in the past year, driven by supply chain and ransomware threats.

Anti-Money Laundering

HKMA Identifies AML/CFT Gaps in Stored Value Facilities

27/09/2021

The HKMA flagged issues related to risk assessments, business partner arrangements, customer risk assessments, and transaction monitoring.

Anti-Bribery & Corruption

China Targets Corruption with New Supervision Law

25/09/2021

Supervisors are asked to crack down on the use of offshore companies and underground banks to transfer illegal income and property involved in duty-related crimes.

Conduct, Culture & Accountability

IMF Probes Kristalina Georgieva Over Data-Rigging Allegations

24/09/2021

IMF managing director Kristalina Georgieva has denied involvement in alleged data irregularities to improve China’s “Doing Business” ranking.

Sustainable Finance

China: Guangdong to Accelerate Integration of GBA Markets

24/09/2021

The Guangdong provincial government has outlined key priority areas for regional financial market integration in a new action plan.

Cryptocurrency

Korea: Deadline for Crypto Exchanges to Register Arrives

23/09/2021

Five crypto exchanges and one wallet provider have so far submitted their registration documents. Only Upbit has been formally approved by the FSC.