HKMA Signs MoU With Saudi Sovereign Wealth Fund

04/11/2024

The HKMA and PIF will create a $1bn investment fund that will invest in GBA companies that localise in Saudi Arabia.

Securities / Derivatives

BSEC Forms Committee to Explore Move to T+1 Settlement

04/11/2024

A move to T+1 is expected to benefit investors by increasing market liquidity and trading turnover while reducing settlement risk and broker defaults.

Sanctions

US Commerce Dept Fines Chipmaker Over Shipments to China

04/11/2024

The chipmaker shipped semiconductor wafers to a Chinese firm on the Entity List without a licence, due to a data entry error that impacted its transaction screening system.

ESG / Sustainability

Taiwan Launches New “Green and Transition Finance Action Plan”

04/11/2024

Since 2017, the FSC has promoted three “Green Finance Action Plans”. The new plan takes into account the increased focus internationally on transition finance.

Enforcement

Japan FSA Fines Nomura Securities for JGB Futures Manipulation

03/11/2024

Several executives also agreed to a two-month pay cut. It was separately reported that a former Nomura Securities employee was arrested on suspicion of robbery and attempted murder.

Crypto / Digital Assets

Taiwan to Implement New VASP Registration System on 30 November

03/11/2024

The FSC is also drafting a new special law for virtual assets, covering areas such as licensing, consumer protection, capital requirements, and trading behaviour.

CSRC Grants Fund Custody Licence to HSBC’s China Unit

03/11/2024

HSBC is the fifth foreign bank to be granted a fund custody licence, after StanChart, Citibank, Deutsche Bank and BNP Paribas.

Securities / Derivatives

Hong Kong Lists First Company via De-SPAC Transaction

03/11/2024

HK Acquisition Corp completed a merger with e-commerce solutions provider Synagistics, making it the first de-SPAC transaction completed in Hong Kong.

Sanctions

BIS Announces Decision to Exit mBridge CBDC Project

03/11/2024

Agustín Carstens said BIS is not leaving mBridge because of political considerations but instead because it is “at a level where the partners can carry it on by themselves.”