Anti-Bribery & Corruption

Intermediaries Should Lay Down Anti-bribery Policies: SFC

21/12/2020

Intermediaries should draw reference from the sample code of conduct issued by the ICAC and provide appropriate training to directors, staff members and agents.

Operational Risk

HKMA Unveils Enhanced Competency Framework on Operational Risk

20/12/2020

The new Enhanced Competency Framework is aimed at raising the professional competence of practitioners working in the operational risk management function of banks.

Structural Regulation

FMA Clarifies Expectations on Use of Overseas Research in New Zealand

20/12/2020

Overseas firms without a New Zealand financial advice licence can supply research reports to licensed New Zealand firms, but not to retail clients.

Conduct, Culture & Accountability

ASIC Consults on Internal Dispute Resolution Reporting Requirements

20/12/2020

ASIC has adopted feedback on the data reporting requirements from an earlier consultation. Additional feedback is needed before it confirms the next steps for implementation.

Emerging Prudential Risks

BNM Launches New Financing Facility for ‘High Tech’ SMEs

20/12/2020

The facility will cater to SMEs in advanced manufacturing and services sectors as well as those participating in key government programmes.

Cybersecurity

Philippine SEC to Mandate New Cybersecurity Rules for Capital Markets

20/12/2020

Regulated entities will have to create a separate Information Security Group and appoint a Chief Information Security Officer.

PEPs & Sanctions

ISDA Offers Guidance on Addressing Sanctions in Trading Agreements

20/12/2020

The guidance note helps parties consider whether it may be appropriate to include specific sanctions provisions in ISDA documentation.

Cybersecurity

CSRC Issues Draft Rules on Cybersecurity Incident Handling

20/12/2020

The draft rules provide new standards for categorising cybersecurity incidents based on severity, enhance incident reporting efficiency, and introduce added flexibility for punishments.

Structural Regulation

SFC Consults on Amendments to Code on Pooled Retirement Funds

20/12/2020

Given the wide participation in Hong Kong by employers and employees in ORSO schemes which invest in PRFs, appropriate investor protection should apply.