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Crypto / Digital Assets
OECD Releases Tax Transparency Framework for Crypto
By Manesh Samtani | 11/10/2022
Indirect investments in crypto assets via derivatives and investment vehicles, as well as CBDCs, will be covered by CRS, rather than CARF.
Market Infrastructure
FSB Unveils Plans for Next Phase of Cross-Border Payments Work
By Editors | 11/10/2022
The prioritisation plan emphasises a need to strengthen external engagement and partnerships to take forward the roadmap for enhancing cross-border payments.
Enforcement
SEBI Cancels Rating Agency Licence for the First Time
By Editors | 10/10/2022
Brickwork Ratings India failed to exercise proper skill, care and diligence while discharging its duties as a credit rating agency, SEBI said.
Market Infrastructure
US, EU Move to Adopt New Data Sharing Framework
By Editors | 10/10/2022
The legal basis for transatlantic data transfers has been uncertain since 2020, after the EU-US Privacy Shield was declared invalid under EU law.
Market Infrastructure
FASB Extends LIBOR Accounting Relief for Two More Years
By Editors | 10/10/2022
The relief delays more onerous accounting treatment that borrowers with legacy LIBOR loans would face if the relief was not extended.
Market Infrastructure
Australia Mounts ‘Supercharged’ Response to Optus Breach
By Sanday Chongo Kabange | 07/10/2022
“Operation Guardian” will protect those who had their data released online. Regulatory changes will enable better coordination to detect and mitigate cyber, fraud and scam risk.
AML / KYC
Singapore Passes Amendments to Accountants Act
By Manesh Samtani | 06/10/2022
ACRA is empowered to conduct inspections on accounting entities, compel them to remediate lapses identified, and impose sanctions when necessary.
ESG / Sustainability
ISSB Adoption in Hong Kong Will Have Global Significance: SFC
By Manesh Samtani | 06/10/2022
The SFC is working with HKEX to develop a regulatory framework for listed company climate-related disclosures “based on the ISSB standards”.
Crypto / Digital Assets
SWIFT Publishes Results of CBDC, Tokenised Asset Experiments
By Editors | 06/10/2022
The experiments show SWIFT can enable central banks to connect their CBDC networks to all other payment systems in the world through a single gateway.
Market Infrastructure
New Regulatory Regime for Hong Kong Auditors Takes Effect
By Manesh Samtani | 04/10/2022
The AFRC can subject auditors who commit misconduct to penalties up to HKD 10 million, or three times profit gained, whichever is higher.
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