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Fintech / Regtech
HKMA Assessing Whether Virtual Banks Have Achieved Policy Goals
17/07/2024
The HKMA is evaluating whether the eight virtual banks have achieved the intended policy objectives since the licences were granted in 2019.

Market Infrastructure
ESMA Consults on MiFID II Order Execution Policies
17/07/2024
The consultation seeks input on draft technical standards for how investment firms establish and assess the effectiveness of their order execution policies.

Crypto / Digital Assets
GDF, GLEIF Announce Digital Asset Industry Partnership
17/07/2024
GDF said the partnership with GLEIF aims to raise awareness of the value of consistent party identification via the LEI.

Sanctions
EU Sanctions Five Israeli Individuals and Three Entities
17/07/2024
The sanctions were imposed under the EU’s Global Human Rights Sanctions Regime for human rights abuses against Palestinians.

Chinese Firms Claw Back Executive Bonuses Paid in Hong Kong
17/07/2024
Hong Kong-based executives and former employees of some state-owned FIs have been asked in recent months to pay back part of their past bonuses.

Capital / Liquidity
BCBS Finalises Targeted Adjustments to IRRBB Standard
17/07/2024
The BCBS adjusted the specified interest rate shocks in the IRRBB standard and the methodology used to calculate the shocks.

Crypto / Digital Assets
Korean Lawmakers Propose Revision Bill to Postpone Crypto Tax
17/07/2024
The financial investment income tax, which would impose a 20-25% capital gains tax on stock, bond and fund investments, is also expected to be abolished or postponed.

Market Infrastructure
UK FCA Finalises Guidance for New Derivatives Reporting Framework
17/07/2024
The FCA finalised Q&As and validation rules to support implementation of the new framework from 30 September 2024.

Market Infrastructure
IAIS Launched Final Public Consultation on Climate Risk
16/07/2024
The fourth and final consultation includes proposed new supporting material to better reflect climate-related risk as part of effective supervisory practice.

Securities / Derivatives
HKEX to Launch ID-based Self-Match Prevention Service on 22 July
16/07/2024
The new “ID-based SMP” service will be available in the derivatives market from 22 July. An optional connectivity test will be provided on 20 July.
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