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Payments & Settlements
Malaysia, S. Korea Launch Currency Swap Facility
By Editors | 27/05/2014
Bank Negara of Malaysia and the Bank of Korea have launched a currency swap facility worth up to RM5 billion, or five trillion won, to facilitate trade settlements between companies in Malaysia and South Korea.
Supervision & Enforcement
Financial Regulators’ Expenditures Rise as Market Surveillance Deepens
By Editors | 27/05/2014
Financial services regulators in major markets including Hong Kong have increased their expenditure over the last seven years by nearly 60% amid growing pressure on regulatory agencies to deepen scrutiny of the financial services industry following the 2008 crisis.
Market Abuse
Australian Regulator Issues Report on Confidential Information, Warns of Complacency
By Editors | 27/05/2014
Australia’s disclosure regime ensures retail investors can trust the integrity of the market, the Australian Securities and Investments Commission (ASIC) said, although it warned companies not to become complacent.
Market Abuse
Hong Kong Exchanges Vows to Fight Class Action Lawsuit on Zinc
By Editors | 27/05/2014
Hong Kong Exchanges and Clearing said it will “vigorously” contest a class action alleging it engaged in anti-competitive behaviour that distorted the price of zinc.
Structural Regulation
Hong Kong Court Orders EY to Submit Accounting Records to SFC
By Editors | 26/05/2014
A Hong Kong court has ordered accounting firm Ernst & Young (EY) to produce accounting records relating to its work for Standard Water Ltd, rejecting the firm’s argument that the mainland’s state secrets law prevents it from handing over information to the city’s securities regulator.
Payments & Settlements
Hong Kong, Australia Seek to Boost RMB Trade
By Editors | 23/05/2014
A group of senior representatives from Hong Kong and Australian banks met to review developments in the Renminbi (RMB) business and consider ways to strengthen RMB products and services, with a view to facilitating greater participation of corporates and other customers in the RMB market.
Structural Regulation
Myanmar Sees Delay in Stock Exchange Launch
By Editors | 23/05/2014
The opening of a stock exchange in Myanmar may be delayed due to difficulty in recruiting skilled people for jobs at the exchange and finding companies that could qualify to list on the market.
Conduct, Culture & Accountability
HK Regulator Reprimands, Fines Deutsche Bank for Regulatory Breaches
By Editors | 23/05/2014
The Securities and Futures Commission (SFC) has reprimanded and fined Deutsche Bank HK$1.6 million for regulatory breaches and internal control failings.
Structural Regulation
Japan’s Economy Needs ‘Super Regional Banks,’ Says LDP
By Editors | 22/05/2014
Japan’s ruling Liberal Democratic Party will urge government to establish “super regional banks” to help revitalize the economy during the nation’s unorthodox bid to beat deflation.
Conduct, Culture & Accountability
Malaysia’s Audit Board Urges Firms to Ensure Quality of Monitoring Procedure
By Editors | 22/05/2014
Malaysia’s Audit Oversight Board urged audit firms to ensure quality of audit procedures.
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