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Potential application of the EU passport regime in China’s Guangdong-Hong Kong-Macao Greater Bay Area
Online Published Date : 09 November 2020 | Appeared in issue: 23.07 - 09 November 2020
China proposed the initiative of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) in February 2019,1 in which the development of its financial industry is key. Since Hong Kong and Macao are Special Administrative Regions of China, there are..
Financial Regulation International
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Do lenders and borrowers amount to merging entities in Nigeria?
Online Published Date : 09 November 2020 | Appeared in issue: 23.07 - 09 November 2020
The Covid-19 pandemic has led to a reduction in demand for companies’ products and services, a disruption of supply chains, and a tightening of the provision of credit by financial institutions, all of which have worked together to exacerbate..
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Cryptocurrencies as a new means of money laundering and financing of terrorism
Online Published Date : 09 November 2020 | Appeared in issue: 23.07 - 09 November 2020
Cryptocurrencies have become a dominant feature in the international financial system in recent years with a market capitalisation over US$300 billion and market value over €7 billion globally. From a legal perspective, regulators are worried about..
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The EU ups the ante on ESG with new sustainable finance disclosure regulation
Online Published Date : 09 November 2020 | Appeared in issue: 23.07 - 09 November 2020
Environmental, social and corporate governance (ESG) has been a topic of growing importance in the asset management world for a number of years. Led primarily by investor demand, firms have launched an increasing number and variety of ESG products...
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A healthy culture in the insurance sector
Online Published Date : 10 November 2020 | Appeared in issue: 23.09 - 10 November 2020
by Simon CollinsThe Financial Conduct Authority (FCA) announcements over recent weeks have hit at the heart of financial services firms’ culture and fair treatment of customers. The FCA has instigated a consultation process regarding the provision..
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The RBI-sanctioned moratorium on debt servicing in India: an analysis
Online Published Date : 10 November 2020 | Appeared in issue: 23.09 - 10 November 2020
By Anish Mashruwala and Neelasha NemaniEarlier this year, India’s apex financial regulator, the Reserve Bank of India (RBI) pre-empted the effect of the unprecedented spread of the Covid-19 pandemic on the Indian financial sector. The nationwide..
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Accounting frauds: the regulatory challenge ahead
Online Published Date : 11 November 2020 | Appeared in issue: 23.09 - 10 November 2020
By Andrew Howell, Georgina Jones and Michelle GeorgeThe recent collapse of German company Wirecard is widely described as the most sophisticated accounting fraud in post-war Europe. Wirecard is unlikely to be the last example of financial fraud..
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Examining the conflicts between drafts and letters of credit
Online Published Date : 25 November 2020 | Appeared in issue: 23.08 - 25 November 2020
Transferability in letters of credit (LCs) is one of the most significant features increasing the speed and security of payments. Almost all related rules have recognised “transfer” and “assignment of proceeds” as the methods for conferring LCs...
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Wirecard… and the cracks begin to show
Online Published Date : 25 November 2020 | Appeared in issue: 23.08 - 25 November 2020
On 27 June 2020, Wirecard filed for insolvency with its share price plummeting 90 per cent in a massive accounting scandal. After the ex-chief executive was arrested for alleged market manipulation and false accounting, this news came to the public...
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An analysis of the Global Risks Report 2020
Online Published Date : 25 November 2020 | Appeared in issue: 23.08 - 25 November 2020
The global risk environment has been changing fast; but unfortunately, the world community has not kept up with that pace in order to be able to cope with those unforeseeable risks, although it is maintained that some of these risks are foreseeable...