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Conduct, Culture & Accountability
US SEC Fines EY for Employee Cheating on CPA Exams
By Editors | 30/06/2022
The settlement is largest penalty the SEC has ever imposed against an audit firm, double KPMG’s 2019 penalty.
Conduct, Culture & Accountability
ASIC Wins Appeal Against Payday Lenders Cigno, BHF Solutions
By Editors | 30/06/2022
ASIC is now considering using its broader product intervention powers to address consumer detriment in continuing credit contracts.
Conduct, Culture & Accountability
New Zealand Passes Law to Introduce ‘Conduct Licensing’ Regime
By Sanday Chongo Kabange | 30/06/2022
Banks, insurers and non-bank deposit takers will be required to obtain a conduct licence from the FMA, on top of their prudential licences from the RBNZ.
Emerging Prudential Risks
SFC Reviewing Market Practices to Guard Against Risk
By Manesh Samtani | 30/06/2022
Reviews underway cover concentration risk in OTC derivatives markets, risk management at futures brokers, and block trading practices.
Trading & Investment
FMSB Publishes Best Practices for Trading Platform Disclosures
By Editors | 30/06/2022
Trading platform arrangements should contain information about trading protocols, counterparty name disclosure, prioritisation, use of last look, and trade dispute resolution.
Trading & Investment
Chinese Banks Asked to Prepare for Longer Yuan Trading Hours
By Editors | 29/06/2022
Longer trading hours will help meet the rising global demand for yuan transactions, narrow the onshore-offshore spread, and help Chinese investors hedge currency risk.
Structural Regulation
HK FRC Explores Joint Audit Inspections with Mainland Authorities
By Editors | 29/06/2022
Hong Kong’s Financial Reporting Council already has 13 cases involving mainland audit work papers, two of which have been concluded.
Trading & Investment
ETFs to Be Included in Stock Connect Starting 4 July
By Editors | 29/06/2022
The relevant rules and operational and regulatory arrangements have been finalised and technical systems have been put in place.
Market Data & Technology
JPX Launches Real-time Calculation of Key TSE Indices
By Editors | 28/06/2022
The TSE’s prime, standard and growth market indices are being calculated every 15 seconds from 27 June instead of once a day.
DeFi & Web3
WEF Offers Guidance to Policymakers on DAO Structures, Risks
By Editors | 28/06/2022
DAOs may disrupt whole sectors but they also confront challenges of cybersecurity, governance, and regulatory uncertainty, says a new WEF report.
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