Sanctions

Hong Kong Considers Replacing State Street as TraHK Manager

26/05/2021

Officials reportedly commissioned an independent study to review State Street’s role in managing Hong Kong’s Tracker Fund.

Securities / Derivatives

CBIRC Approves Goldman Sachs Wealth Management JV

26/05/2021

Preliminary approval will allow Goldman Sachs Asset Management to own a 51 percent stake in the joint venture with ICBC Wealth Management.

ESG / Sustainability

IAIS Offers Supervisory Guidance on Climate Risk in Insurance Sector

25/05/2021

New paper sets out recommendations to promote a globally consistent approach to the supervision of climate-related risks in the insurance sector.

Market Infrastructure

IOSCO Explores Conduct Risks in Leveraged Loan, CLO Markets

25/05/2021

IOSCO is looking to understand potential conflicts of interest and misaligned incentives that may exist among participants in the leverage loan and CLO markets.

Market Infrastructure

EU Ramps Up Regulatory Scrutiny Over Foreign Bank Branches

25/05/2021

New rules will require foreign banks operating in the EU to consolidate their operations under an “intermediate parent undertaking”.

Enforcement

China: Policymakers Warn Against Commodity Market Speculation

25/05/2021

Regulators will strengthen supervision of commodity futures and the spot market with a “zero tolerance” for illegal activities.

Securities / Derivatives

Bursa Malaysia Grants Extension for Issuing Financial Statements

25/05/2021

The announcement comes at a time when Malaysia is under a four-week nationwide lockdown until 7 June.

Market Infrastructure

China CIPS Expands to Include Corporate Participants

25/05/2021

The first batch of non-banks have joined CIPS. Officials say the network covers nearly 200 countries and over 3400 banks.

ESG / Sustainability

Biden Directs US Federal Agencies to Take Action on Climate

25/05/2021

Under an executive order, a comprehensive government-wide strategy on climate-related financial risk shall be developed within 120 days.