We were interested to note that the US Securities and Exchange Commission (SEC) has “nearly doubled” the size of its Crypto Assets and Cyber Unit (formerly simply the Cyber Unit), part of its Division of Enforcement.
The UK’s Financial Reporting Council (FRC) is on course to significantly strengthen its oversight of audit.
In news that may catch the attention of doubters when it comes to investing in regulatory reporting, the Bank of England’s Prudential Regulation Authority (PRA) recently fined Metro Bank 5.38 million pounds (just over 7 million dollars) for failures in its regulatory reporting.
The European Securities and Markets Authority (ESMA) has released its annual Public Statement on European Common Enforcement Priorities. This sets out priority issues that ESMA, together with national enforcers, will pay particular attention to in assessing listed companies’ annual reports for 2021.
In a unanimous recent vote, the Investor Advisory Committee (IAC) of the US Securities and Exchange Commission (SEC) has recommended stricter regulation of special purpose acquisition companies (SPACs).
Singapore Exchange Regulation (SGX RegCo) set to expand its range of enforcement powers from 1 August, in an interesting development that aims to reinforce Singapore’s capital markets, reduce malfeasance and enhance protection for investors.
Admittedly, one for the financial regulators! Those who fail to learn from history are condemned to repeat it… and this is certainly true in relation to financial crises.
Reporting standards tend to be hypothetical and without redress and enforcement consequences for misstatements.
In further Environmental, Social and Governance (ESG) news from the US Securities and Exchange Commission (SEC), the agency has announced the creation of a Climate and ESG Task Force in its Division of Enforcement.