ESG / Sustainability

New UK Taskforce to Set Standards for Climate Transition Plans

27/04/2022

The taskforce will develop policy recommendations, sector-specific transition planning templates and guidance, and measures to tackle greenwashing.

Securities / Derivatives

Taiwan: Foreign Brokers Cleared of Wrongdoing in Trading Probe

27/04/2022

A probe into foreign brokerage firms was launched last month after they sold shares in TSMC while also issuing “buy” recommendations in research reports.

Enforcement

Hong Kong: ICAC Charges Three Over Mortgage Fraud

27/04/2022

A property buyer and two estate agents understated the purchase price so the mortgage would be subject to a lower LTV cap.

CBIRC Directs Banks to Finance Green Highway Construction

27/04/2022

Banks are asked to provide financing support for government highway projects and optimise the repayment arrangements for such projects.

Sanctions

Myanmar Exempts Foreign Firms from FX Conversion Rule

27/04/2022

An order requiring all foreign currency held in bank accounts to be converted into local currency will not apply to businesses in special economic zones and most other foreigners.

HKIFA Calls for Clear ‘Exit Strategy’ from Covid Restrictions

27/04/2022

The HKIFA says many fund managers have or are planning to relocate, largely to Singapore, due to Hong Kong’s tough Covid-related restrictions.

Securities / Derivatives

LME to Cease Trading in Gold, Silver Futures in July

27/04/2022

The LME said the decision was made following discussions with market participants and “in light of the low levels of trading activity”.

AML / KYC

China UnionPay to Halt Operations in Russia

27/04/2022

UnionPay has reportedly halted negotiations with Russian banks on issuing new bank cards for their customers to avoid possible sanctions.

Fintech / Regtech

HKMA Launches Knowledge Hub to Promote RegTech Adoption

26/04/2022

The Hub’s launch is accompanied by videos featuring regtech solutions from HSBC, Citibank, iFinHealth, Ping An OneConnect Bank and ASTRI.