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ESG / Sustainability
US FSOC Establishes New Advisory Committee on Climate Risk
By Editors | 08/10/2022
The committee will help the FSOC gather information, conduct analysis, and make recommendations to address climate-related financial risks.
APRA Asks Super Trustees to Improve Outsourcing Arrangements
By Editors | 08/10/2022
APRA expects all trustees to evaluate and improve their processes for selecting, monitoring and overseeing outsourcing arrangements.
Malaysia Establishes New Council to Drive Islamic Finance
By Editors | 07/10/2022
BNM and the SC said the newly established MIFC Leadership Council will cement Malaysia’s proposition as a leading hub for Islamic finance.
AML / KYC
AUSTRAC Issues Guidance on SoF and SoW Checks
By Sanday Chongo Kabange | 07/10/2022
When performing SoF and SoW checks, reporting entities must avoid the misconception that money coming from a bank can be presumed to be clean.
Market Infrastructure
Australia Mounts ‘Supercharged’ Response to Optus Breach
By Sanday Chongo Kabange | 07/10/2022
“Operation Guardian” will protect those who had their data released online. Regulatory changes will enable better coordination to detect and mitigate cyber, fraud and scam risk.
Enforcement
HK Court Orders Founder to Buy Shares from Wronged Investors
By Editors | 07/10/2022
The order is the first made to require a listed company executive to buy shares held by other investors “at a price to be determined by the court”.
Korea Launches New Debt Adjustment Programme
By Editors | 07/10/2022
The programme will cater to pandemic-hit micro-enterprises and self-employed business owners. A mortgage loan conversion programme has also been expanded.
Securities / Derivatives
China Offers Tax Breaks to Private Pension Participants
By Editors | 07/10/2022
The move is expected to incentivise more FIs to participate in the private pension scheme and improve their products and services to gain market share.
AML / KYC
Singapore Passes Amendments to Accountants Act
By Manesh Samtani | 06/10/2022
ACRA is empowered to conduct inspections on accounting entities, compel them to remediate lapses identified, and impose sanctions when necessary.
AML / KYC
Hong Kong Police Launch New Anti-Fraud Search Engine
By Editors | 06/10/2022
Dubbed ‘Scameter’, the search engine allows members of the public to check information such as bank account numbers and email addresses for previous links to scams.
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