Conduct, Culture & Accountability

HKEX Pleased With Latest Findings from Corporate Governance Review

20/11/2023

The review found a reduction in long-serving INEDs and an increase in board diversity. HKEX has issued new guidance for INEDs.

Fraud, Scams & Cybercrime

Malaysia SC to Launch New Anti-Scam Search Portal by Year-End

20/11/2023

By mid 2024, BNM and PayNet will also have finished building the new National Fraud Portal, a “smart system” for tracing fund movements and identifying money mules.

Credit Risk

China Pushes FIs to Provide Financing to Property Firms

20/11/2023

Financial firms were asked to meet all “reasonable financing needs” of property firms. A “white list” of firms eligible to receive financing is being drafted.

Supervision & Enforcement

Australia Introduces Bill to Address Tax Adviser Misconduct

20/11/2023

Assistant Treasurer Stephen Jones said the bill introduces the “biggest government crackdown on tax adviser misconduct in Australian history”.

Climate Risk

Xi Jinping Pledges to Further Open China Market to Foreign Firms

20/11/2023

During Xi’s visit to the US, the two sides agreed to cooperate on addressing AI risks, climate change, and fentanyl trafficking.

Payments & Settlements

BIS Innovation Hub Unveils First Use Case for Project Mandala

20/11/2023

Project Mandala seeks to address disparate policy and regulatory frameworks across jurisdictions that hinder cross-border payments.

Payments & Settlements

PBOC Allows Mastercard to Launch China Card Clearing Business

20/11/2023

Mastercard is the second overseas bank card clearing institution to enter the Chinese market, after an American Express unit was granted approval in 2020.

Tokenisation

Japan FSA Allows ODX to Launch Security Token Trading Platform

20/11/2023

Osaka Digital Exchange said its new platform, to be known as “START”, will launch by the end of the year.

PEPs & Sanctions

OFSI Updates Sanctions Guidance to Clarify “Control Test”

19/11/2023

The updated guidance clarifies that political leaders are not presumed to control public bodies or private companies for the purposes of UK sanctions, in response to a recent court decision.