The Hong Kong Monetary Authority has endorsed a revised code of banking practice that requires the city’s banks to uphold international banking practices in areas of disclosure and transparency, responsible business conduct and financial education.
Meeting cash and liquidity management standards in Basel III are driving the development of advanced systems.
The Monetary Authority of Singapore is urging issuers of financial products to write their prospectuses in plain English, and present information in a clear, concise and logical manner to better help investors make informed investment decisions.
The Central Bank of Myanmar (CBM) and the Monetary Authority of Singapore (MAS) have agreed to strengthen bilateral cooperation on areas including banking supervision.
Hong Kong’s top regulator said preparations are under way to connect the city’s stock exchange with Shenzhen’s stock market, similar to the cross-border stock trading scheme with Shanghai.
The Reserve Bank has exempted regional rural banks with assets of less than $175 million from registering with the American tax authorities under the Foreign Account Tax Compliance Act.
Singapore has opened discussions with the United Kingdom on deepening cooperation on financial regulatory reforms and market developments on offshore renminbi (RMB), infrastructure funding, Islamic finance, insurance, and asset management.
The International Organization of Securities Commissions has finalized its risk mitigation standards for uncleared over-the-counter derivatives.
South Korea plans to revise local banking laws that will allow Internet-only banks to operate in the country.
Singapore Exchange said it is partnering with venture capital firm Clearbridge Accelerator Pte Ltd to develop a capital-raising platform for entrepreneurs and small and medium-sized enterprises in Asia.