Markets & Infrastructure

Conduct, Culture & Accountability

Dubai: KPMG Ordered to Pay Investors Over Audit Violations

By Editors | 20/04/2023

The court said KPMG Lower Gulf committed “many violations” of international auditing standards and ordered the firm to pay investors $231mn.

Structural Regulation

ACCC Defers Decision on ANZ-Suncorp Merger to End-July

By Editors | 20/04/2023

The timeframe can be extended if applicants agree. ANZ agreed to an ACCC request to extend the review period from 12 June to 28 July.

Structural Regulation

Ravi Menon Reported to be Leaving MAS This Year

By Editors | 20/04/2023

Ravi Menon is MAS’ longest-serving managing director. Former deputy managing director Chia Der Jiun is tipped to be Menon’s successor.

Fraud, Scams & Cybercrime

ASIC Calls on Banks to Reconsider Approach to Scams

By Editors | 20/04/2023

Only 13 percent of scam payments made by customers were detected and stopped by the big four banks. Customers were “overwhelmingly” the bearer of scam losses.

Payments & Settlements

BIS, BOE Unveil Findings from Payments Synchronisation Project

By Manesh Samtani | 19/04/2023

Project Meridian demonstrated the ability to synchronise property ownership transfer with payment settlement using central bank money.

AI Risk & Governance

ChatGPT Can Interpret Fed Policy, Predict Stock Moves

By Mark Johnston | 19/04/2023

Researchers find ChatGPT can interpret Fed policy and corporate news and make investment recommendations based on them.

Cryptocurrency

SEC Chair Gensler Defends Regulatory, Anti-Crypto Agenda

By Manesh Samtani | 19/04/2023

Regulation by enforcement is not sufficient nor sustainable, House Financial Services Committee chair Patrick McHenry told SEC chair Gary Gensler.

Conduct, Culture & Accountability

Australia Consults on Bill to Lower Entry Barriers in Advice Industry

By Editors | 19/04/2023

Financial advisers with ten years experience and a clean disciplinary record will be deemed to have met the education requirements.

Trading & Investment

Two More Chinese Firms List GDRs in Switzerland

By Editors | 19/04/2023

The listings come despite last month’s reports that Chinese regulators had stopped accepting applications from mainland firms seeking to issue GDRs in Switzerland.