09/10/2020
CAD finds 'reasonable grounds' of offence by AGV director
In July, the company said it had received notices from the CAD and MAS asking for information and documents in relation to an alleged offence under the SFA.
Legal, Regulation & Compliance
09/10/2020
Singapore's MAS issues guidelines to strengthen culture of responsibility, ethical behaviour in financial industry
The guidelines, which were released on September 10, were accompanied by an information paper on good practices in these areas.
09/09/2020
ADB finances Uzbek highway reconstruction
Road is key trade route and part of Corridor 2 of the CAREC programme
09/09/2020
APRA to Amend Liquidity Rules for Banks – Report
The changes will require banks to decrease their holdings of private sector liquid assets in favour of buying more government debt.
09/09/2020
China Announces Global Initiative to Safeguard Data Security
The initiative opposes the creation of backdoors in technology products, large-scale surveillance of other countries, and the illegal acquisition of foreign citizens’ personal data.
09/09/2020
Hong Kong Watchdog Seeks Recovery from Tianhe Scandal
SFC unveiled the issues surrounding the Tianhe listing last year including grossly lacking due diligence practices.
09/09/2020
BOCHK partners with Schroders to launch Asset Allocation Solutions
Customers can make reference to the past performance of asset allocation portfolios and customise their own asset allocation
09/08/2020
State Council Approves Rules for Financial Holding Companies
It is not yet known if there are any significant changes to the rules from those proposed by the PBOC last year.
09/08/2020
MAS to Implement CMFAS Exam Changes in Q1 2020
The RES modules will be tailored for appointed representatives trading on the respective securities and derivatives exchanges, while allowing flexibility to take new combined product knowledge modules.
09/08/2020
Philippine and Indonesia regulators ink deal to improve financial systems, boost supervision
This February, BSP, OJK and the Indonesian central bank signed another memorandum of understanding to cooperate on payment systems and digital financial innovation.
09/08/2020
Citigroup receives Fund Custody License from Chinese Regulator
BlackRock recently announced that it has also received regulatory approval from the CSRC to establish its own wholly-owned subsidiary, with firms such as Neuberger Berman and Fidelity International also submitting applications.
09/08/2020
Iress clears regulatory hurdle on OneVue acquisition
The board of OneVue is recommending acceptance of the Iress offer by shareholders.
09/08/2020
IOOF denies dealer groups can influence platform inclusions
“Financial advice dealer groups cannot influence the addition of managed investment schemes to platforms or recommended product lists.”
09/08/2020
CBIRC Fines Four Banks and Huarong for Violations
China Zheshang Bank was fined CNY 101.2 million for selling wealth management products to shift assets off balance sheet, and for interbank investment violations.
09/07/2020
Hong Kong’s MPF hits HK$1 trillion (US$129 billion) mark for first time, thanks to rally in investment markets, says head of pension regulator
The strong recovery after a sharp fall in the first quarter reflects “the resilience and stability of the MPF system”
09/07/2020
China to expand stock connect programme as it looks to speed up opening of its financial markets
The move comes against a backdrop of rising tension with the US over issues including trade and the crackdown on Hong Kong.
09/07/2020
HKMA Calls on Financial Sector to Support New Recruitment Scheme
“When the economy recovers, the demand for talent will resume. It is therefore desirable for the industry to maintain its momentum in building human capacity despite the negative impact of the pandemic situation.”
09/07/2020
Hong Kong residents seek overseas properties for exit plan
UK sees home demand surge after citizenship offer in response to security law
09/07/2020
BSP Targets September Issuance of Digital Banks Framework
The new regime is aimed at catalysing financial inclusion as part of the BSP’s digital payments transformation roadmap.
09/07/2020
AMP deed of release bars advisers joining class action
This clause has only come into effect since AMP Financial Planning advisers brought a class action against AMP in relation to changes made to Buyer of Last Resort agreements, Macdonald said.