PEPs & Sanctions

LME Considers Banning Russian Metals from Warehouses

08/10/2022

Even without direct sanctions, a significant number of metals consumers are expressing an unwillingness to accept Russian metal in 2023, LME says.

KYC & CDD

ACRA Implements Requirements to Disclose Nominees, Controllers

08/10/2022

Local and foreign companies are required to maintain a register of nominee shareholders, and lodge information on their controllers with ACRA.

Conduct, Culture & Accountability

New Zealand: Conduct Issues Result in Remediation Worth NZ$150m

08/10/2022

Conduct issues in the life insurance and banking sectors resulted in over NZD 43 million and NZD 109 million in customer remediation, respectively.

Liquidity Risk

IMF Calls on Policymakers to Address Fund Redemption Risks

08/10/2022

Policymakers should provide guidance on how open-ended funds should calibrate swing pricing and similar tools, and monitor their implementation.

Climate Risk

US FSOC Establishes New Advisory Committee on Climate Risk

08/10/2022

The committee will help the FSOC gather information, conduct analysis, and make recommendations to address climate-related financial risks.

Operational Risk

APRA Asks Super Trustees to Improve Outsourcing Arrangements

08/10/2022

APRA expects all trustees to evaluate and improve their processes for selecting, monitoring and overseeing outsourcing arrangements.

Structural Regulation

Malaysia Establishes New Council to Drive Islamic Finance

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.

Market Abuse

HK Court Orders Founder to Buy Shares from Wronged Investors

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”.

Credit Risk

Korea Launches New Debt Adjustment Programme

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.