Singapore updates audit committee guidebook. The Monetary Authority of Singapore, the Accounting and Corporate Regulatory Authority and the Singapore Exchange issued a revised Guidebook for Audit Committees in Singapore. (8/29/2014) MAS press release.
MAS consults on amendments to restrictions on deposit-taking. The Monetary Authority of Singapore published a consultation paper on proposed amendments to the exemptions from restrictions on deposit-taking and solicitations. Comments should be submitted by September 12, 2014. (8/12/2014)
ASIC statement on superannuation funds. The Australian Securities & Investments Commission clarified how it will apply the wholesale investor test to self-managed superannuation funds. (8/8/2014) ASIC press release.
ASIC Statement of Intent. The Australian Securities & Investments published its Statement of Intent, which responds to the Government’s Statement of Expectations about ASIC’s role, responsibilities and relationship with government, issues of transparency and accountability and operational matters. (8/8/2014)
ASIC relief concerning auditor registration. The Australian Securities & Investments Commission announced relief to address a potential technical defect in the registration of some auditors since December 2005. The relief enables, to the maximum extent possible, affected auditors and their clients to conduct their affairs despite the potential defect. The relief is immediately effective. (8/7/2014) ASIC press release.
MAS consults on leverage ratio disclosure. The Monetary Authority of Singapore published a consultation paper on proposed amendments to Parts II, IV, XI and XII of MAS Notice 637 on Risk Based Capital Adequacy Requirements for Banks Incorporated in Singapore. The amendments would implement the leverage ratio disclosure requirements for Singapore-incorporated banks that are consistent with the requirements issued by the Basel Committee on Banking Supervision. Comments should be submitted by September 5, 2014. (8/6/2014)