Structural Regulation

‘Significant Issues’ Remain on US-China Audit Deal

26/05/2022

The SEC’s YJ Fischer confirmed that progress has been made in talks with Chinese regulators, but warned that time was “quickly running out”.

Trading & Investment

China Allows Expanded Use of Currency Hedging Tools

26/05/2022

Financial institutions are allowed to offer American-style and Asian-style FX options, in addition to European-style FX options already allowed.

Conduct, Culture & Accountability

HKMA Publishes Findings from Front Office Incentives Review

26/05/2022

Some incentive systems used in retail banks’ front offices may unintentionally push staff to prioritise business objectives over customer outcomes.

Cryptocurrency

GBBC, GDF Merge to Create 500 Member Association

25/05/2022

The combined influence of GBBC and GDF is expected to help facilitate global collaboration on a robust global framework for crypto assets.

Tokenisation

SET, UOB Join SGX, Temasek as Investors in ADDX

25/05/2022

SET’s move to invest in ADDX reflects a trend towards a “new capital market landscape that emphasises continuity between the public and private markets”.

AI Risk & Governance

Govt Support Needed in AI, Big Data Industry: FTAHK

25/05/2022

Survey respondents said government support is needed to drive education and promote fairness, ethics, accountability and transparency in the industry.

Data Privacy

Singapore, Switzerland to Promote Cross-border Data Connectivity

25/05/2022

MAS and SIF will work towards enabling data flows (including personal information) within financial groups, supported by free choice of location for data storage and processing.

Reporting & Disclosures

US SEC Fines BNY Mellon Unit for ESG Misstatements

25/05/2022

BNY Mellon Investment Adviser stated in documents that all investments in its funds had undergone an ESG quality review, but that this was not always the case.

Cryptocurrency

CME to Launch Crypto Reference Rates, Indices in Euro

24/05/2022

New non-tradable EUR-denominated reference rates and real-time indices for Bitcoin and Ether will be published starting 6 June.