12/13/2017
Hong kong FSR insights 2018 outlook
The SFC has indicated that it will shortly be providing more granular guidance on cooperation in disciplinary, civil and Market Misconduct Tribunal proceedings.
Legal, Regulation & Compliance
12/13/2017
China’s graft watchdog warns officials over ‘concealed’ extravagance
President Xi Jinping has waged a five-year war on graft at all levels of the ruling Communist Party, from high-level “tigers” to lowly “flies”.
12/13/2017
Convoy raids put Hong Kong firms on notice
Hong Kong’s financial services firms can expect greater regulatory scrutiny as an unprecedented joint probe by the Independent Commission Against Corruption and the Securities and Futures Commission paves the way for future investigations.
12/13/2017
Barclays Africa Group inks deal with China Development Bank
This partnership will unlock opportunities that are aligned to our shared growth approach and could facilitate positive socio-economic impact.
12/13/2017
Canadian regulators and ASIC sign fintech cooperation pact
The Innovation Hub provides the opportunity for entrepreneurs to understand how regulation might impact on them.
12/12/2017
Banks hire ex-RBI men to avoid slip-ups
Higher costs for non compliance mean banks would rather have a person who knows the workings of the central bank.
12/12/2017
Robeco: China’s AM regulations and US tax reform risks
“The new rules in China limit the south-bound investments and will therefore have a negative impact on the Hong Kong equity market,” said Robeco’s Victoria Mio.
12/11/2017
Chinese Regulator Cracks Down on Booming Hedge-Fund Industry
The crackdown comes as China mounts a campaign to limit financial dangers lurking in the economy.
12/11/2017
Convoy chairman arrested at airport
Convoy Financial has confirmed its chairman Quincy Wong Lee-Man was arrested on 8 December and has now been suspended as a director.
12/11/2017
SGX launches guide to prevent insider trading
The SGX says the guide "is not meant to be prescriptive or exhaustive", and needs to be "customised to each company’s unique profile and circumstances".
12/10/2017
Chinese banks push back on regulators’ plan to bring wealth management products in line
Ten mid-sized banks have asked regulators to extend a June 2019 deadline by another 18 months until the end of December 2020, for ending promised guarantees on wealth management products.
12/08/2017
China banks warn new asset management rules may trigger systemic risks: sources
The People’s Bank of China did not immediately respond to a faxed request for comment.
12/07/2017
ASIC widens conflicted adviser remuneration rules
The life insurance remuneration reforms, which commence on 1 January 2018
12/07/2017
ASIC releases new example Statement of Advice for life insurance
The design is based on behavioural research into how consumers read and understand the information in SOAs.
12/07/2017
Companies to be banned from shifting profits offshore to avoid tax
Stopping multinationals avoiding tax was part of the coalition agreement between Labour and NZ First.
12/07/2017
Myanmar to approve five specialised banks for targeted lending
The CBM should also systematically monitor the specialised banks so that they don't give out additional financial assistance to those with connections to their financiers.
12/07/2017
Proposed Asset Management Rules Will Help Tame China’s Shadow Banking Problem
Under the proposed rules, banks can no longer offer wealth management products with a guaranteed rate of return.
12/07/2017
DFSA signs FinTech agreements with Hong Kong authorities
The DFSA signed bilateral agreements with Hong Kong’s Insurance Authority (IA) and the Hong Kong Monetary Authority (HKMA), in Hong Kong.
12/07/2017
Hong Kong IFA firm Convoy halts trading following raids
However no time or date was given as to when this will happen.
12/07/2017
Bank Indonesia declares bitcoin payment illegal
Cryptocurrency's volatility poses 'huge risk' to economy, central bank says