Market Infrastructure

China, Switzerland Mutually Recognise Audit Standards as Equivalent

02/01/2023

The equivalence decision is expected to reduce audit costs, improve audit efficiency, and deepen Sino-Swiss economic, trade and financial cooperation.

Crypto / Digital Assets

Boston Fed, MIT Conclude CBDC Research Project

02/01/2023

Project Hamilton focused on better understanding the capabilities and limitations of different technologies that might be used to manage and transfer CBDCs.

Securities / Derivatives

Chinese Exchanges Announce Fee Reductions for 2023

02/01/2023

Shanghai and Shenzhen exchanges are granting exemptions from initial and annual listing fees and all bond transaction handling fees.

Securities / Derivatives

CBIRC Proposes New Rules to Contain Risks in Trust Industry

01/01/2023

Trust companies will have to divide their businesses into specific categories and ensure those businesses stay within the boundaries of their classifications.

Market Infrastructure

Two More ETFs List via Singapore-Shenzhen Trading Link

31/12/2022

SGX listed its second ETF via the SZSE-SGX ETF Link. SZSE listed its first ETF via the link. The two ETFs have a combined AUM of over SGD 270 million.

Enforcement

China to Crack Down on Illegal Stock Recommendations

30/12/2022

Regulators are targeting online information, accounts, website platforms and mobile apps being used to make stock recommendations illegally.

AML / KYC

SEC Philippines Increases Penalties for UBO Non Disclosure

30/12/2022

Directors, trustees, and officers can also be fined personally and barred for five years for failure to ensure compliance with beneficial ownership disclosure requirements.

AML / KYC

Isle of Man, Guernsey, Jersey Pause Work on UBO Registers

30/12/2022

Further legal advice is needed following the November judgment by the EU Court of Justice, which found public access to UBO information interferes with the right to privacy.

ESG / Sustainability

China ETS Sees Lower Than Expected Trading Performance

30/12/2022

Only 44 million tonnes of carbon allowances were traded during 2022, down from 179 million tonnes in 2021, though the market has now exceeded CNY 10 billion in cumulative turnover.