ASIC Offers Whistleblower Guidance for Auditors, Company Officers

01/07/2020

The guidance explains the obligations of company auditors and company officers under the whistleblower protection provisions under the Corporations Act.

Market Infrastructure

FSB Issues Statement on Global Benchmark Transition

01/07/2020

The FSB maintains its view that financial and non-financial sector firms across all jurisdictions should continue efforts to remove remaining LIBOR dependencies by end-2021.

Securities / Derivatives

Wave of Fund Managers Looking to Set Up Singapore VCCs

01/07/2020

Up to 70 VCCs have already been launched in Singapore, many by small and boutique funds or local family offices. But a much larger wave of companies is on its way.

AML / KYC

BNM e-KYC Policy for Customer Onboarding Takes Effect

30/06/2020

Financial institutions have the freedom to decide on any combination of methods to identify and verify customers through e-KYC, but prior BNM approval is required.

Market Infrastructure

ASX Proposes April 2022 Go-Live of CHESS Replacement

30/06/2020

The revised timetable accounts for Covid-19 related disruptions, accommodates functionality changes, and provides more time to ensure user readiness.

India Bans Chinese Apps, Citing Data Privacy Issues

30/06/2020

India has banned 59 of China’s biggest mobile phone apps including TikTok and WeChat, saying they breach data privacy requirements and threaten the country’s security.

AML / KYC

FATF Progresses Key Initiatives at June 2020 Plenary

30/06/2020

The Plenary discussed progress on virtual assets, stablecoins, illegal wildlife trade, and work on an enhanced framework for mutual evaluations and follow-up.

AML / KYC

National Security Legislation Promulgates in Hong Kong

30/06/2020

A legislative notice has been posted in the Hong Kong gazette, saying the national law applies in the city as part of the Basic Law from 11pm on 30 June 2020.

Securities / Derivatives

SGX Pushes into FX OTC Market with BidFX Acquisition

30/06/2020

The acquisition will bring together two growing and mutually-reinforcing pools of liquidity, and allow SGX to further expand into the global FX OTC market.