company must, in case of cross-border omnibus accounts, assess the adequacy and effectiveness of the financial institutions’ KYC/CDD measures and controls prior to requesting for approval from senior
financial institution’s clients. However, the securities company must, in case of cross-border omnibus accounts, assess the adequacy and effectiveness of the financial institutions’ KYC/CDD measures and
transactions or involving multiple jurisdictions. 2 Clause 4 The derivatives clearing house shall regularly assess the adequacy of the value of the financial resources for covering credit risk and liquidity risk
) Division 7 Cross-border communication (8) Division 8 Companies shall test and assess the BCP (Training, Exercising and Auditing) (9) Division 9 Examples of emergency incidents which may cause major
clearing house shall regularly assess the adequacy of the value of the financial resources for covering credit risk and liquidity risk, by at least conducting the following tests: (1) a daily stress test
expansion Innovative products and services Resilience 8 Pressures from all directions • Increasing national and international regulations For example: EU’s Carbon border adjustment mechanism (CBAM); Right to
cross-border activity in asset management and the offering and distribution of collective investment schemes. Its purpose is to enhance cooperation in relation to (i) collective investment schemes
acceptable international standards among different capital markets is considered the driving force to stimulate cross-border investments, and thus propelling such integration and linkages forward. Being
important that the auditors carefully assess the audit risks and plan their audits accordingly. This becomes particularly important as the effective date of the new auditor’s report is fast approaching, where
and advice that is relevant to investors. It also contains new principles with respect to cross border listings and the importance of fair and effective price discovery in stock markets. IV) The role of