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PEPs & Sanctions
US Treasury Issues Guidance on Russian Oil Price Cap
By Manesh Samtani | 12/09/2022
The price cap on Russian crude starts in December. India and China import over half of Russia’s seaborne oil. Nord Stream 1 is closed.
Payments & Settlements
US Appeals Court Rules for Citi in Revlon Dispute
By Editors | 12/09/2022
The court ruled that Revlon lenders cannot keep USD 500 million they were sent in error by Citigroup, which was acting as the loan agent.
Reporting & Disclosures
Thailand Publishes CFA’s ESG Disclosure Guidelines for Local Use
By Editors | 09/09/2022
SEC secretary-general Ruenvadee Suwanmongkol said the guidelines would enhance ESG disclosures, improve capital markets, and mitigate greenwashing.
Reporting & Disclosures
Sri Lanka SEC, CSE Sign MOU with Accounting Body on ESG
By Duruthu E Chandrasekera | 08/09/2022
MOUs with CFA Society and CA Sri Lanka were signed as a prelude to the establishment of an ESG index by the CSE.
Cryptocurrency
Thai SEC Advances Work to Revamp Rules for Crypto Firms
By Editors | 08/09/2022
The SEC will appoint a working group to consider amendments to the regulatory framework. Separately, it has filed a police complaint against Zipmex.
Fraud, Scams & Cybercrime
Big Four Auditor Facing HK Lawsuit Over Chinese Audit
By Editors | 07/09/2022
The liquidator of a now-collapsed Chinese biotech firm said the auditor could have easily exposed fraud by asking obvious questions.
Supervision & Enforcement
US Fed Ends HSBC 2012 Deferred Prosecution Agreement
By Editors | 06/09/2022
HSBC welcomed the decision, saying its employees have worked hard over the last decade to transform the bank’s financial crime risk management capabilities.
CBDCs
Digital Dollar Project Launching Sandbox to Explore CBDC
By Editors | 06/09/2022
The programme is slated to begin in early October with a focus on cross-border payments. The initial participants will be Digital Asset, EMTECH, Knox Networks, and Ripple.
Emerging Prudential Risks
Philippines to Assess Financial Conglomerate Risks in October
By Editors | 06/09/2022
The first supervisory college focusing on financial conglomerates concluded in June. The second supervisory college will commence in October.
Cybersecurity
BSP Rolls Out New Cyber Risk Management Software at FIs
By Editors | 06/09/2022
The software will streamline and automate regulatory supervision, reporting and compliance assessment of banks’ cybersecurity risk management.
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