Markets & Infrastructure

Structural Regulation

HK Audit Regulator to Probe Convoy Financial Statements

By Ranamita Chakraborty | 01/03/2021

Zhonghui Anda CPA Limited may have failed to express an appropriate audit opinion in three years of Convoy’s financial statements, the Financial Reporting Council said.

Cloud & Infrastructure

Westpac Announces New Partner in Digital Banking Push

By Ranamita Chakraborty | 01/03/2021

Westpac and SocietyOne have signed a partnership expand digital banking services to customers in the second quarter of this year.

PEPs & Sanctions

NYSE Announces Decision to Delist Chinese Oil Major CNOOC

By Editors | 01/03/2021

The decision was made in light of Executive Order 13959, which was signed in November, and updated guidance provided by OFAC in January.

Emerging Prudential Risks

IOSCO Publishes Work Programme for 2021-2022

By Editors | 28/02/2021

New priorities will be to address the risks of NBFI activities and risks exacerbated by the Covid-19 pandemic such as misconduct, fraud and operational resilience.

Market Abuse

FSC Korea Fines Ten Foreign Firms for Short Selling Violations

By Editors | 28/02/2021

The FSC did not name the firms that were penalised, but said the highest fine was KRW 180 million against a firm that committed four violations.

Fraud, Scams & Cybercrime

CSRC Issues Warning Letters to Audit, Asset Appraisal Firms

By Editors | 28/02/2021

Warning letters have been issued to 8 audit firms, 28 certified public accountants, 6 assessment agencies, 27 asset appraisers and 6 practitioners.

Payments & Settlements

India Allows Private Banks to Conduct Government Business

By Editors | 28/02/2021

Since 2012, payments for tax, pensions and other government business have largely been channelled through public sector banks.

Structural Regulation

Australia Launches ‘Buy Now Pay Later’ Code of Conduct

By Ranamita Chakraborty | 27/02/2021

The code makes AFCA membership compulsory and incorporates ASIC’s new design and distribution obligations regime.

Fraud, Scams & Cybercrime

ASIC Files Charges Against Allianz, AWP Over False Advertising

By Editors | 27/02/2021

Allianz faces a maximum penalty of A$8mn for each of seven charges for making false or misleading statements regarding the sale of travel insurance products.