Hong Kong Ends Quarantine Exemptions for Senior Finance Execs

03/11/2021

Listed company directors and senior financial industry executives will no longer be able to skip hotel quarantine procedures upon entry into Hong Kong.

Securities / Derivatives

IOSCO Finalises Guidance on Preventing Greenwashing in Funds

03/11/2021

IOSCO provides five recommendations for regulators to consider as they develop sustainability-related rules and regulations for asset managers.

Securities / Derivatives

Japan Unifies Licensing System for Financial Services

03/11/2021

The change will allow agents of financial service firms to sell financial products such as loans, investments and insurance under a single license.

Fintech / Regtech

OJK Indonesia Directs Banks to Prioritise Digital Transformation

02/11/2021

OJK says banks need to prioritise digital transformation to improve their competitiveness and ensure the overall resilience of the banking sector.

Capital / Liquidity

PBOC, CBIRC Establish Final TLAC Rules for Chinese G-SIBs

02/11/2021

China’s G-SIBs must have total loss-absorbing capacity amounting to at least 16% of RWA and a leverage ratio of 6% by 1 January 2025.

Enforcement

SFC Fines Fulbright Securities Over Internal Control Failures

02/11/2021

Fulbright Securities breached regulatory requirements when processing placement subscription applications for a Hong Kong-listed company in August 2018.

Securities / Derivatives

SGX Announces Strategic Investment in Trading Technologies Int’l

02/11/2021

SGX is buying a stake in a provider of professional trading software, infrastructure and data solutions for listed futures and options.

ABA Rolls Out New Guidance on Providing Hardship Assistance

02/11/2021

Some banks, such as Westpac, have already begun to implement practices within the guideline. Others will roll out the practices over the next 12 months.

Big Picture

FSB Reports Progress to G20 on Financial System Resilience

02/11/2021

The FSB emphasises a need to ensure that regulatory frameworks allow for the financial sector to harness the benefits of innovation while containing the related risks.