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Market Abuse
Korea Introduces ‘Sarbanes Oxley’ in Response to Accounting Scandals
By Samuel Riding | 02/11/2017
Move is part of President Moon Jae-in’s Chaebol clean-up campaign, follows proposal to make agencies liable for ‘defective ratings’.
KYC & CDD
RBI Confirms ID-Bank Account Link Compulsory, to Create Public Credit Registry
By Editors | 25/10/2017
Central bank says Aadhar cards must be linked to bank account; proposed credit registry to be open to ‘all stakeholders’.
Supervision & Enforcement
ASIC to Seek 10-year Sentences for Corporate Criminals
By Editors | 25/10/2017
Securities regulator says current maximum punishments are not sufficient as they don’t wipe out gains made from illicit activity.
Emerging Prudential Risks
China Turns Local Governments into Regulatory Enforcers
By Editors | 23/10/2017
PBOC governor says regulatory agencies not properly coordinated, reiterates concern about bad debt as China transforms into market economy.
Cybersecurity
Taiwan FSC to Establish Platform for Information Security
By Editors | 19/10/2017
Order issued after reports that hackers breached bank’s online transaction system and stole $60mn which was distributed via SWIFT.
KYC & CDD
Dangers in Banks Supply Chain Facilitation
By JP Reimann | 19/10/2017
Why supporting supply chain activity could be a regulatory and reputational minefield for banks.
Trading & Investment
India to Allow Currency Hedging by Non-resident Companies
By Samuel Riding | 19/10/2017
RBI (the Reserve Bank of India) will allow central treasuries used by non-resident companies to hedge their rupee currency risk from trade transactions.
AI Risk & Governance
The Growing Human Limitations of Financial AI
By Peter Guy | 16/10/2017
Artificial intelligence might not harm humans, but humans can go to jail for the actions of bad robots.
Conduct, Culture & Accountability
Malaysia to Introduce Bank Employee Screening, Ethics Requirements
By Editors | 16/10/2017
Central bank moves to improve ethics within the industry, will require banks to introduce minimum conduct standards and policy.
Structural Regulation
India Releases Draft Rules for Electronic Trading Platforms
By Editors | 16/10/2017
Move comes as National Stock Exchange bids to end case of alleged unfair access via its co-location facility by offering to pay fine.
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