11/05/2020
BaFin, FREP Were Deficient in Supervising Wirecard, says ESMA
ESMA’s peer review focused on BaFin and FREP’s application of the Guidelines on Enforcement of Financial Information
Legal, Regulation & Compliance
11/05/2020
HKMA Seeks ‘Multi-CBDC Platform’ to Enhance Cross-border Payments
As part of the project’s second phase, the HKMA and BOT will soon bring banks and large corporates into trials to test the network using actual trade and capital market transactions.
11/04/2020
ADB approves US$483.8 million loan for Myanmar road project
The 64-kilometre expressway will help strengthen links with Thailand and other GMS countries
11/04/2020
BCBS Updates G20 Leaders on Basel III implementation
Since the eighteenth progress report on Basel III adoption issued in July, China has made progress on implementing rules on TLAC holdings, having issued draft rules in late September which will apply to the country’s G-SIBs starting from 1 January 2
11/04/2020
BCBS Updates G20 Leaders on Basel III implementation
Indonesia has made progress on margin requirements for non-centrally cleared derivatives and capital requirements for CCPs.
11/04/2020
MAS steps up enforcement actions against market abuse and financial misconduct
MAS imposed $3.3 million in composition penalties for money laundering-related control breaches, and issued 25 prohibition orders against unfit representatives.
11/03/2020
PBOC to Scrap Market Maker Approval Process in Interbank Market
An incentive and restraint mechanism must also be built into the market making agreements with trading platforms, to ensure market discipline is enforced.
11/03/2020
HK to Allow Secondary Listings from Some Corporate WVR Companies
The listings of Alibaba, JD.com, NetEase, Xiaomi and Meituan Dianping in Hong Kong were made possible by the 2018 reforms.
11/03/2020
SFC: «Investor Confidence is Absolutely Essential»
We need to be clear-eyed about the challenges we face and we also need to maintain our independence and impartiality at all times.
11/03/2020
Singapore CPF-approved top ten funds include five focused on China, Morningstar says
The Morningstar figures show that two-thirds of the 30 top-performing CPF-approved funds are focused on Asia, including six Singapore funds, five for China, and one each for India and Japan, while seven are focused on the Asian region.
11/03/2020
J.P. Morgan Ups Mainland China Securities Ownership
The increased stake will place J.P. Morgan ahead of competitors like Morgan Stanley, Goldman Sachs and UBS, which still own 51 percent of their own securities units but have intentions to move towards full ownership.
11/03/2020
Singapore Bill to Align Payment Services Act with FATF Standards
The bill seeks to enhance the regulatory framework for VASPs (virtual asset service providers) – including digital exchanges, cryptocurrency firms and e-wallet services – to implement enhanced standards set by the FATF
11/03/2020
FASEA finally delivers on accessibility of code submissions
Stoker asked Glenfield why, given that FASEA had the ability to publish links to the submissions, they were not available on the web site, with the FASEA CEO claiming the submissions were available.
11/03/2020
HKMA to Target Accelerated RegTech Adoption in 2021
The HKMA wants to see banks embracing and trialling new technologies and proofs of concept, and ultimately adopting more Regtech solutions, said central banker Arthur Yuen.
11/03/2020
Transforming Risk Management and Compliance: Harnessing the Power of Regtech
The HKMA strongly believes that Hong Kong has the right foundations to support a thriving Regtech ecosystem, and ultimately become a Regtech hub.
11/02/2020
Scale of China's public offering funds slightly expands
China's asset management industry expanded slower in recent years as authorities tightened regulations to contain risks arising from wealth management products.
11/02/2020
MAS bans 2 ex-bankers over fraud, dishonest conduct convictions
The orders against the duo took effect on Thursday, MAS said.
11/02/2020
Deadlock revisited in Chu v Lau: Winding-up on the Just and Equitable Ground
Update prepared by Justine Lau (Partner, Hong Kong) and Jennifer White (Senior Associate, Hong Kong)
11/02/2020
Bank of Korea to grow ties with Central Asian countries
The core point is that the BOK's outreach to Central Asia will serve as a building block for more Korea businesses to better export their financial infrastructures in areas such as stock transactions and credit-rating systems.
11/02/2020
Hong Kong proposes climate risk disclosure for fund managers
The paper outlines baseline requirements for all fund managers, and enhanced standards for those with more than HK$4 billion (US$512.8 million) of assets under management.