Compliance Regulations and Guidance Affecting your Industry

This Prudential Standard sets out the requirements that an authorised deposit-taking institution with approval to use an internal model for interest rate risk in the banking book must meet for regulatory capital purposes, both at the time of initial implementation and on an ongoing basis.

This Australian Prudential Standard requires an authorised deposit-taking institution engaging in activities that give rise to risks associated with potential movements in market prices to adopt risk management practices and hold regulatory capital that is commensurate with the risks involved.

This Prudential Standard requires locally incorporated authorised deposit-taking institutions to meet minimum requirements for the public disclosure of information on their risk management practices and capital adequacy to enhance transparency in Australian financial markets.

The Monetary Authority of Singapore (MAS) released these risk management guidelines to provide guidance on best practices to follow with respect to credit risk. Financial institutions can utilize these guidelines for credit extension but banks may apply them to both trading and banking books.

The Monetary Authority of Singapore (MAS) published these Risk Management Guidelines on Market Risk in February 2006. They are aimed at helping financial institutions better cope with the risks inherent in market exposure.

The Thailand Corporate Governance code was published by the Stock Exchange of Thailand. It was revised in 2006

The Hong Kong Corporate Governance code was published by the Stock Exchange of Hong Kong. The code was revised in 2012.

The New Zealand Securities Commission published “Corporate Governance in New Zealand Principles and Guidelines” in February 2004. The aim of these principles is to make sure that companies in the country are run in an ethical and compliant manner.

The Monetary Authority of Singapore’s Risk Management Practices Guidelines dealing with internal controls makes it clear that a financial institution’s Board and senior management must establish processes, policies and procedures ensure its compliance with regulatory requirements. These policies and processes should also make sure that the institution’s operations are effective and compliant.

The 2012 Singapore Corporate Governance Code supersedes and replaces the Code that was issued in July 2005. The Code is now under the purview of the Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX).

A proposed European Commission regulation and anti-money laundering measure that requires information accompanying transfers of funds to secure "due traceability" of these transfers.

A proposal for a Directive released by the European Commission on the prevention of use of the financial system for the purpose of money laundering and terrorist financing.

The purposes of this Act are—

1. to detect and deter money laundering and the financing of terrorism; and
2. to maintain and enhance New Zealand’s international reputation by adopting, where appropriate in the New Zealand context, recommendations issued by the Financial Action Task Force; and
3. to contribute to public confidence in the financial system.

Accordingly, this Act facilitates co-operation amongst reporting entities, AML/CFT supervisors, and various government agencies, in particular law enforcement and regulatory agencies.

Australia’s legal framework to detect and deter money-laundering and terrorism, namely, the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) lays down the obligations that are supervised and regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC).

The SEC formulated its final rule for whistleblowers as required by the Dodd-Frank Act in May. The rule gives the definition of a whistleblower and requirements in order to be eligible for an award.

In October 2009 the Federal Trade Commission (FTC) released its final Guides Concerning the Use of Endorsements and Testimonials in Advertising. The Guides revise the FTC's initial guidelines published in 1980, providing advertisers and spokespeople with insight on how to keep their endorsement and testimonial advertisements in compliance with the FTC Act, particularly in light of new issues posed by the emergence of social media. The Guides took effect on December 1, 2009.
 

This UK Ministry of Justice issued guidance document describes the procedures which relevant commercial organisations can put into place to prevent persons associated with them from bribing (section 9 of the UK Bribery Act 2010).

By July 1, 2011 any commercial organization either formed in the UK or having a business interest in the UK has to comply with the UK Bribery Act 2010. The Act defines what constitutes a bribe, what sort of payments are acceptable or not and the penalties for violators.