Market Infrastructure

HKMA Invites Tenders to Implement LIBOR Transition for Exchange Fund

09/11/2020

Interested parties should arrange project staff members who are familiar with or experienced in the Calypso system and LIBOR transition.

AML / KYC

Hong Kong Lawmaker to Propose Bill to Combat Illegal Wildlife Trade

09/11/2020

The bill will seek to incorporate wildlife crimes into Hong Kong’s Organised and Serious Crimes Ordinance, allowing authorities to follow the money and prosecute syndicate leaders.

Securities / Derivatives

SEBI Doubles Overseas Investment Limit for Mutual Funds

09/11/2020

SEBI says mutual funds can now invest up to $600mn overseas, up from $300mn previously, subject to a $7bn overall industry limit.

Capital / Liquidity

Key Risks to Financial System Have Been Contained: PBOC

08/11/2020

However, the PBOC believes the world economy is still in a period of deep adjustment, amid concerns that the risk of debt defaults has increased.

FMA Finalises Standard Conditions for Full Financial Advice Licence

08/11/2020

All financial advice providers will have to meet the standard conditions to obtain a full licence when the new advice regime takes effect on 15 March 2021.

Enforcement

Second Ex-Chairman of Hengfeng Bank Gets Death Sentence

08/11/2020

The former chairman will have his sentence commuted to life in prison if he commits no further crime over the next two years.

Fintech / Regtech

WhatsApp Wins Approval to Launch Payments Service in India

08/11/2020

The approval comes two and a half years after WhatsApp launched in beta mode, but was then forced to comply with India’s data localisation requirements.

Securities / Derivatives

Industry Bodies Publish APAC Charter for Indication of Interest Issuers

08/11/2020

ASIFMA, Quorum 15, Asia TraderForum, the FIX Trading Community and their members have established a consistent approach for issuing Indications of Interest.

Securities / Derivatives

Japan FSA to Set Up Dedicated Office to Lure Foreign Fund Managers

08/11/2020

The new office will be able to start receiving applications in English in January 2021. Pre-application consultation is available in English with immediate effect.