Enforcement

MAS Bans Former Representative Over Forgery Conviction

04/06/2021

The former representative deceived online platform OANDA into crediting money into his personal trading account through forged screenshots of a bank transfer.

AML / KYC

HKIFA Warns Against Concealing Company Director Information

04/06/2021

The government proposal to stop requiring companies to reveal certain information about directors will hinder fund managers’ ability to conduct due diligence.

Securities / Derivatives

SEBI Defers Fund Disclosure Rule by Three Months

04/06/2021

New rules for the disclosure of scheme risk-o-meters, performance and portfolio details will be implemented on 1 September instead of 1 June.

Crypto / Digital Assets

MAS Issues Guidance on Managing Risks of Cloud Services

04/06/2021

In a new advisory, MAS highlights the key risks and control measures FIs should consider before adopting public cloud services.

Securities / Derivatives

China’s SAFE Awards $10.3bn Worth of New QDII Quotas

04/06/2021

The new quotas, awarded to 17 institutions, represent the largest approval by SAFE in the history of the QDII scheme.

Securities / Derivatives

SEBI Raises Overseas Investment Limits for Mutual Funds

03/06/2021

The overseas investment limit was raised from $600mn to $1bn. For investments in overseas ETFs, the limit was raised from $200mn to $300mn.

Capital / Liquidity

HKMA Issues Guidance on Counterparty Credit Risk Framework

03/06/2021

The guidance is aimed at facilitating consistent interpretation and application of the capital requirements under the BCR as amended in April.

Securities / Derivatives

Philippine SEC Issues Draft Guidelines for ASEAN CIS Framework

03/06/2021

The draft guidelines will operationalise the supplemental MOU signed last month to admit the Philippines to the ASEAN CIS framework.

Market Infrastructure

FSB, IOSCO Issue Statements in Support of Smooth LIBOR Transition

02/06/2021

The FSB warns against waiting for the development of forward-looking term RFRs. IOSCO urges market participants to stop issuing new LIBOR products.