Decoding the Objective, Scope and Conceptual Foundations of IFRS S1 On 26 June, the International Sustainability Standards Board (ISSB) issued IFRS 1 - General Requirements for Disclosure of Sustainability-Related Financial Information (IFRS S1) and Climate-Related Disclosures (IFRS S2) (collectively referred to as the "ISSB Standards"). The ISSB Standards significantly shift sustainability disclosure from voluntary to…
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In August 2021, the Amended Anti-Money Laundering Law of the People’s Republic of China ("Amended AML Law") came into effect. The International Monetary Fund estimates the total amount of laundered money to be 2-5% of the global GDP in one year. Money laundering refers to transforming illegal money generated from criminal activity (such as drug…
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The Notice on Strengthening the Management of Payment Acceptance Terminals and Related Business No. 259 (“Notice 259”) on October 13, 2021. Issued by the People’s Bank of China and effective from 1 March 2022, this is the first legislation to regulate quick response (“QR”) code payments (Company Collection Payment Codes). Notice 259 require QR code…
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