Custody & Infrastructure

Thai SEC to Require Crypto Wallet Providers to be Licensed

06/12/2021

Custody and wallet providers required to obtain information identifying the account owners of wallets. New guidelines coming on the use of crypto in payments.

Structural Regulation

Citigroup Applies to CSRC for China Securities Licence

06/12/2021

Citigroup reportedly plans to also apply for a futures licence in China in the coming months.

Trading & Investment

USD Cross-currency Derivatives to Use SOFR from 13 December

06/12/2021

Under part two of the second phase of SOFR First, interdealer brokers are asked to use SOFR instead of LIBOR in the USD leg of all newly-executed cross-currency derivatives.

Cloud & Infrastructure

HKMA Launches Enhanced Competency Framework on Fintech

06/12/2021

Banks are “strongly encouraged” to adopt the ECF-Fintech as part of their overall efforts to support the professional development of employees.

Capital Adequacy

FSB Reports Further Progress on OTC Derivatives Reforms

05/12/2021

15 out of 24 FSB member jurisdictions have implemented higher capital requirements for non-centrally cleared derivatives, compared to just 8 in 2020.

Trading & Investment

China Regulators Grow Increasingly Cautious of Quant Funds

05/12/2021

AMAC has reportedly closed a fast-track channel for quant fund managers, reflecting concerns that algo-based trading can increase volatility and unfairness in markets.

Conduct, Culture & Accountability

Hong Kong FRC Launches New Whistleblowing Policy

05/12/2021

Protecting whistleblowers’ identities will be the FRC’s highest priority. It will not share any personal information to outside parties unless it is “legally obliged to do so”.

Anti-Money Laundering

Interpol Concludes Global Operation Targeting Wildlife & Timber Crime

05/12/2021

Customs, police, FIUs and wildlife and forestry enforcement agencies in 118 countries participated in the operation, which has led to hundreds of arrests and over 1,000 seizures.

Structural Regulation

Thai SEC Seeks to Smooth Transition to Mandatory Pension

05/12/2021

The SEC proposes changes to reduce the chance of voluntary provident funds being dissolved or liquidated, which it says could impact THB 1.3 trillion in capital market investments.