Enforcement

SEBI Exonerates Nine in NSE ‘Dark Fibre’ Case – Reports

17/01/2020

SEBI said there was no evidence to suggest the nine former and current NSE officials were involved in facilitating preferential market access for selected brokers.

Market Infrastructure

UK Regulators Set Key LIBOR Transition Deadlines

17/01/2020

Market makers have until 2 March to adopt SONIA as the market convention for issuing sterling interest rate swaps, and until Q3 to end all new issuances of LIBOR-based cash products.

ESG / Sustainability

Hong Kong, Thailand Set to Sign Cross-Border Funds Agreement

17/01/2020

Hong Kong’s SFC and Thailand’s SEC plan to sign a mutual recognition of funds agreement within the second quarter of this year.

ESG / Sustainability

HKMA Urges Family Offices to Set Up in Hong Kong

17/01/2020

The HKMA has been working to enhance Hong Kong’s competitiveness as a family office hub by developing talent, enhancing investment opportunities, and outreach.

Securities / Derivatives

CBIRC to Impose New Rules on Cash Management Products

16/01/2020

The rules will require banks’ cash management products to invest in shorter duration assets and limit leverage to 120%, among other requirements.

AML / KYC

MAS Publishes Responses to VCC Consultation Papers

16/01/2020

VCCs are required to engage an Eligible Financial Institution, or EFI, to perform necessary AML/CFT checks and maintain the register of controllers, nominee directors and beneficial owners.

Securities / Derivatives

SGX Proposes Tighter Auditing, Property Valuation Standards

16/01/2020

Foreign issuers may appoint foreign auditors, but an ACRA-registered firm must also serve as a joint auditor. Standards for property valuations by issuers are also being raised.

Crypto / Digital Assets

Malaysia Issues New Guidelines on Digital Assets

16/01/2020

The guidelines require platform operators to carry out due diligence on prospective issuers of digital tokens, and issuers to satisfy governance and capital requirements.

Securities / Derivatives

Hang Seng Index Operator Seeks Views on Constituent Eligibility

16/01/2020

The operator of the Hang Seng Index is soliciting market views on the eligibility of weighted voting rights and secondary-listed companies for inclusion in the benchmark.