Market Infrastructure

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.

Fintech / Regtech

ISDA Nears Completion of Work to Digitise CFTC Reporting Rules

By Editors | 04/10/2022

ISDA working groups are transforming CFTC swap data reporting rules into machine-executable code ahead of implementation on 5 December.

Capital / Liquidity

US Regulators Call for New Laws for Crypto, Stablecoins

By Manesh Samtani | 04/10/2022

FSOC report calls for legislation to establish stablecoin regulation, supervisory authority over crypto asset entities, and rulemaking authority over crypto-asset spot markets.