Structural Regulation

China’s AMAC Revises Rules for Private Equity Asset Management Plans

18/07/2023

The measures aim to refocus the private equity industry’s attention back to its core operations, minimise potential conflicts of interest, and facilitate the growth of the industry.

AI Risk & Governance

US SEC Working on Rule Proposals to Mitigate Risks from AI

18/07/2023

SEC chairman Gary Gensler said AI could heighten financial fragility and promote herding behaviour among investors.

Cryptocurrency

Industry Working Group Opens Consultation on IVMS101 Enhancements

18/07/2023

The working group was formed in April and has met five times since to consider and approve revisions to the IVMS101 standard.

AI Risk & Governance

UNSC Hosts First-Ever Session on Artificial Intelligence

18/07/2023

UK Foreign Secretary James Cleverly called for urgent international cooperation in shaping the governance of AI.

Anti-Money Laundering

US Lawmakers Examine Criticism of FinCEN Beneficial Ownership Rule

18/07/2023

Witnesses criticised FinCEN for introducing overly complex rules and failing to account for the reporting burden on small businesses.

Conduct, Culture & Accountability

Australia: Big 4 Accused of Operating ‘Beyond the Law’

18/07/2023

Former KPMG partner Brendan Lyon called for changes in how the accounting profession is regulated to restore public trust and ensure integrity in financial reporting.

Fraud, Scams & Cybercrime

CSRC Fines GF Securities for Poor Due Diligence in Stock Sale

18/07/2023

GF Securities received an advance notice of administrative penalties from the CSRC connected to a 2018 share issuance by Misho Ecology & Landscape.

Conduct, Culture & Accountability

UK FCA Proposes New Guidance to Tackle Unlawful Social Media Promotions

18/07/2023

The guidance discusses how the use of ‘finfluencers’ and memes on social media could potentially breach the FCA’s rules on financial promotions.

Trading & Investment

China Looking to Shore Up Confidence Among Foreign Investors

18/07/2023

Regulators are organising a meeting in Beijing this Friday to discuss the challenges faced by foreign investors and encourage them to maintain their presence in China.