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2024 Update | China and Hong Kong

by Starling Insights

Compendium

Jun 11, 2024

In late 2021, Chinese property giant Evergrande defaulted on its $300 billion debt, raising global economic concerns. In January 2024, a Hong Kong judge ordered Evergrande into liquidation due to its failure to present a restructuring plan. Questions emerged about why PwC, Evergrande's auditor from 2009 to 2023, had not flagged financial issues earlier. PwC resigned in January 2023, citing a lack of information. In February 2024, liquidators prepared to sue PwC for alleged audit negligence.

The 2024 Compendium is available June 11th!

Now in its 7th year, Starling's Compendium features over 40 contributors from across the industry as well as detailed analysis of the latest trends in culture & conduct risk supervision.

2023 COMMENTS, CONTRIBUTIONS & CONCLUSIONS | Tribulations, and trials

by Starling Insights

Compendium

Jun 07, 2023

“Supervisors in other jurisdictions have adopted approaches based in behavioral science that incorporate data on institutional attitudes and norms related to risk factors, such as complacency, overconfidence, short-term focus, and lack of effective challenge that can reveal institutional blind spots and contribute to vulnerabilities like those seen at SVB,” Fed’s Vice Governor for Supervision Michael Barr noted in his April report to Congress on the collapse of SVB.