Topic: Conduct regulation

US banks defend themselves against “wokeism” charges

The CEOs of the six largest US banks have defended themselves from accusations that “stakeholder capitalism” was drawing their institutions into political meddling, in testimony before two US congressional committees.

28 May 2021

Singapore consults on corporate governance

Singapore’s regulatory authority is consulting on revised corporate governance guidelines for financial institutions, as regulators in Malaysia, Hong Kong and Japan emphasise sustainability and diversity in their own recent corporate governance overhauls.

12 May 2021

A crack of light into the FCA’s cum-ex approach

Corker Binning partners David Corker and Claire Cross discuss a busy year in relation to the fallout from the cum-ex trading scandal, as a new case sheds light onto the Financial Conduct Authority's "leisurely" approach to commencing regulatory hostilities.

15 March 2021

“The new normal”: Singapore addresses work-from-home risks

Last year’s shift to remote working in the covid-19 pandemic did not trigger “any significant increase in operational, fraud and cyber risks”, according to a new paper published by Singapore’s banking association and regulator, which outlines a range of new policies banks should adopt if the practice becomes “the new normal” post-pandemic.

03 March 2021

Hong Kong proposes to stamp out “undesirable” capital markets conduct

Hong Kong’s securities regulator has proposed a detailed code of conduct for capital markets transactions in an effort to stamp out “undesirable” behaviour from intermediaries.

10 February 2021

Goldman Sachs to address risk management after US$2.9 billion 1MDB settlement

Goldman Sachs has been ordered to improve its risk management and oversight procedures after settling with 10 regulators in five jurisdictions over an alleged multibillion-dollar bribery and embezzlement scheme with respect to Malaysian fund 1MDB.

29 October 2020

Australian regulator responds to scrutiny with revamped risk framework

Australia’s prudential regulator has introduced a fresh supervisory framework to include non-financial risks for banks, a year after the government released a report calling for the body to “reset” its regulatory approach.

06 October 2020

ESMA sets out benchmark parameters for extreme market stress scenarios

The EU’s securities regulator has said benchmark administrators should explain in detail any deviations from their methodology in times of extreme market conditions, after financial institutions noted rebalancing delays at the onset of the covid-19 crisis.

01 October 2020

Singapore issues first conduct framework

In a long-awaited development, the Monetary Authority of Singapore has published guidelines on senior managers’ conduct – firing the starting gun on a new phase of self-scrutiny for firms operating in the city-state.

10 September 2020

False statements and disclosure issues fuel Scotiabank’s market manipulation settlements

US authorities have slapped Canada’s Scotiabank with harsh penalties in a market manipulation case, in part because of its failure to reveal the full extent of wrongdoing when voluntarily disclosing the matter.

02 September 2020

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