United States

The court ruled that Revlon lenders cannot keep USD 500 million they were sent in error by Citigroup, which was acting as the loan agent.

The liquidator of a now-collapsed Chinese biotech firm said the auditor could have easily exposed fraud by asking obvious questions.

HSBC welcomed the decision, saying its employees have worked hard over the last decade to transform the bank's financial crime risk management capabilities.

The programme is slated to begin in early October with a focus on cross-border payments. The initial participants will be Digital Asset, EMTECH, Knox Networks, and Ripple.

The CSRC will push forward legislation to enact new overseas listing rules, and support the establishment of a new registration system for Chinese firms seeking foreign IPOs.

DeFi platforms are asked to institute real time analytics, monitoring, rigorous code testing, and incident response plans.

Alibaba, Netease, Baidu, JD.com and Yum China are among the first Chinese firms selected for the PCAOB's audit checks in Hong Kong

The technical testing phase of the new FedNow Service will kick off in mid-September. The service will be ready to launch between May and July of 2023.

US companies will be required to disclose information reflecting the relationship between executive compensation and the financial performance.

PCAOB inspectors will be on the ground in Hong Kong by mid-September to conduct their inspections of auditors of US-listed Chinese firms.