Supervision & Enforcement

‘Big Four’ Accounting Firms To Appeal Against SEC China Ruling

24/01/2014

The “Big Four” accounting firms said they will fight a ruling by the US Securities and Exchange commission suspending their Chinese units for six months.

Cryptocurrency

Indonesia Recommends Against Bitcoin Use

24/01/2014

The Central Bank of Indonesia have recommended against the use of Bitcoin in the country. According to the central bank, the virtual currency fails to meet a number of regulations.

Market Abuse

HK Court Varies Interim Injunction Against Qunxing

24/01/2014

The Court of First Instance today varied an interim injunction obtained by the SFC in the proceedings against Qunxing Paper Holdings Company Limited (Qunxing) and its subsidiary, Best Known Group Limited (Best Known).

Market Abuse

SFC Allows Appeal over Retail Investor Aquittal

24/01/2014

The Court of First Instance today allowed the Securities and Futures Commission’s (SFC) appeal of the acquittal of Mr Chan Wing Fai of false trading, and ordered that the case be remitted back to the Magistrate.

Conduct, Culture & Accountability

Japan to Urge Banks to Appoint Outside Board Members for Transparency

24/01/2014

Japanese regulators plan to call on banks and their holding companies to appoint outside directors as members of their board to enhance transparency in management.

Anti-Money Laundering

India Pulls Out Old Currency Notes, Curbs ‘Black Money’

24/01/2014

The Reserve Bank said it will withdraw all currency notes issued prior to 2005 from March 31, in an apparent move aimed at curbing black money and fake currencies.

Structural Regulation

Kinetic Partners: Attitude Towards Regulation Softens, Highlights Need for Global Coordination

23/01/2014

Business executives’ attitude toward regulation improves, but the need for global coordination remains, a survey by consulting and advisory firm Kinetic Partners reveals.

Credit Risk

China Relaxes Bank Rules to Write Off Small Loans

22/01/2014

China moves ahead with reforms to overhaul its financial system as it eases bank rules on loan write-offs, while offering small lenders better access to funds.

Data Privacy

S. Korea Regulator Eyes Overhaul of Anti-Piracy Policy to Combat Data Theft

22/01/2014

The country’s financial industry watchdog plans an overhaul of anti-piracy polices to fight data breach.