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Articles on Financial regulations

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The SEC’s proposed rules include some reporting of so-called Scope 3 emissions, in companies’ supply chains and use of their products. AP Photo/Noah Berger

SEC proposes far-reaching climate disclosure rules for companies – here’s where the rules may be vulnerable to legal challenges

The SEC’s proposal would require companies to disclose their greenhouse gas emissions and other climate risks, but it’s not a done deal yet.
The Bank of Canada’s digital currency would let the federal government monitor spending. (Shutterstock)

A national digital currency has serious privacy implications

The Bank of Canada is proposing a federally managed digital currency that flies in the face of the decentralized approach to money that cryptocurrencies have established.
A crucial problem with the global approach to anti-money laundering is the emphasis on demonstrating activity rather than results. Paul Miller/AAP

The global war on money laundering is a failed experiment

Anti-money laundering efforts are based on measuring activity, not results. To cut crime and terrorism, we need a frank conversation about where the system has gone wrong.
Taking a loan has never been easier thanks to the proliferation of mobile lending platforms. Rosenfeld Media/Wikimedia Commons

Mobile-based lending is huge in Kenya: but there’s a downside too

Mobile loan platforms have given Kenyans access to easy loans, but they come at a high price.
Canadian CEO Gerald Cotten died in December, taking to his grave the passwords to unlock his cryptocurrency clients’ millions. Dmitry Moraine/Unsplash

Regulations needed after cryptocurrency CEO takes passwords to his grave

The CEO of a Canadian cryptocurrency company died recently, and took his passwords with him, leaving his clients high and dry. The debacle illustrates again that cryptocurrencies should be regulated.
Using blockchain technology can feel like falling and hoping someone will catch you. Nicoleta Raftu/Shutterstock.com

People don’t trust blockchain systems – is regulation a way to help?

Blockchain technology was supposed to make trust unnecessary – but that turns out not to be true. Most people will want laws and regulations to help make blockchain-based systems trustworthy.
Board-level risk indicators include one person dominating meetings or a culture of blaming and withholding information. Shutterstock

There is nothing sacrosanct about corporate culture; we can and must regulate it

It is a furphy that regulation for good corporate culture is impossible. It is done in the Netherlands and it is already under way in Australia, albeit in an unacknowledged, and limited, form.
The collapse of a royal commission witness provided a reminder of the stark differences between financial services and health services when it comes to caring for customers. Stefan Postles/AAP

What if we expected financial services to be more like health services?

The financial services industry is in need of a new paradigm to rediscover what finance is for – to improve the financial and economic well-being of society.
Trading for almost 150 years in Switzerland, BSI was brought down by the recklessness of its overseas operations. Karl Mathis/EPA

How a Swiss bank was toppled by a financial scandal in Malaysia – and what can be learned from it

The world’s largest financial scandal has toppled a government, threatened a currency, and revealed deeply problematic failings at a buccaneering Swiss bank.
Hacks like the one on Coincheck expose gullible investors to risk, but it also means funds could be flowing undetected into the hands of money launderers and terrorists. www.shutterstock.com

What the Coincheck hack tells us about how Australian regulators will handle a cryptocurrency hack

Australian regulators face similar problems as their Australian counterparts in getting cryptocurrency platforms to regulate and prosecuting them when things go wrong.

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