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Credit Risk
SEBI Issues New Rules for Ratings of Credit-enhanced Securities
By Editors | 30/09/2022
The rules require CRAs to make certain disclosures and conduct independent due diligence on the nature of support provided by an external or third party.
Anti-Bribery & Corruption
US SEC Penalises Oracle for FCPA Violations by Foreign Subsidiaries
By Editors | 30/09/2022
Oracle subsidiaries in Turkey, the UAE, and India used slush funds to bribe foreign officials in return for business between 2016 and 2019.
Payments & Settlements
SEBI Developing New Settlement Process for Stock Market
By Editors | 28/09/2022
Under the new system, funds for secondary stock market transactions would be blocked until securities settlement is done.
Clearing & Post-Trade
India’s CCIL Proposes to Create Infrastructure for UMR Compliance
By Manesh Samtani | 28/09/2022
CCIL says market participants have expressed a desire since 2016 for it to provide the centralised infrastructure needed for UMR compliance.
Structural Regulation
SEBI Orders Separation Between CRAs and Non-Rating Affiliates
By Editors | 27/09/2022
Credit rating agencies are directed to strengthen their internal firewalls and formulate a policy on their separation/firewall practices by January 2023.
KYC & CDD
Deutsche Bank to Settle US Shareholder Lawsuit for $26m
By Editors | 27/09/2022
Shareholders said Deutsche Bank made false statements about its KYC and AML processes and caused losses to investors when its client list was made public.
Anti-Money Laundering
India: ICAI Probes 200 Accountants Over Shell Company Setups
By Editors | 26/09/2022
Around 200 chartered accountants are subject to a probe involving shell companies established in India by Chinese firms.
Trading & Investment
SEBI to Tighten Rules on Algo Trading Offered to Retail
By Editors | 26/09/2022
SEBI will scrutinise firms offering algorithmic trading services that claim high returns but cannot be audited or validated.
Cryptocurrency
India to Finalise Stance on Crypto in Early 2023 – Reports
By Editors | 25/09/2022
The government plans to finalise its stance by February-March 2023, ahead of a May deadline to respond to the FATF.
Conduct, Culture & Accountability
RBI Issues New Standards for Compliance Function of UCBs
By Editors | 25/09/2022
Tier 4 UCBs and tier 3 urban cooperative banks are directed to appoint a chief compliance officer by 1 April 2023 and 1 October 2023, respectively.
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