Securities / Derivatives

Vanguard Scraps Plans to Obtain China Mutual Fund Licence

18/03/2021

Vanguard says the mutual funds market is “fairly crowded” and that it would instead focus on a JV with Ant Group providing robo-advisory services to retail investors.

Market Infrastructure

BOT to Continue THBFIX Publication until Mid-2023

18/03/2021

Banks should not undertake transactions using THBFIX from 1 July 2021 onwards. The BOT has started publishing fallback rates for THBFIX.

BNM Increases Funding for SME Digitalisation Initiatives

18/03/2021

The SME Automation and Digitalisation Facility, launched in March to help SMEs automate processes and digitalise operations, has more than tripled in size.

Capital / Liquidity

SEC Thailand Proposes Measures to Protect Funds from Panic Selling

18/03/2021

The SEC is considering imposing conditions for investors seeking to redeem mutual fund units, among other measures to enhance liquidity management at funds.

ESG / Sustainability

CFTC Establishes New Dedicated Unit for Climate Risk

18/03/2021

Other US financial regulators including the SEC, Treasury Department and Federal Reserve have also recently raised climate risk and a key focus.

Capital / Liquidity

APRA to Update Licensing Approach for New Banking Entrants

18/03/2021

The proposed approach will support newly licensed banks so they are better equipped to succeed, according to APRA Deputy Chair John Lonsdale.

Market Infrastructure

Refinitiv to Publish Spread Adjusted SOFR for Cash Products

18/03/2021

Following an RFP process initiated in September, the ARRC has selected Refinitiv to publish spread-adjusted fallback rates for use in cash product contracts.

AML / KYC

FATF to Study Unintended Consequences of the FATF Standards

18/03/2021

The project will study issues such as de-risking, financial exclusion, the suppression of the NPO sector and threats to fundamental human rights.

AML / KYC

SFC Fines Yardley Securities for AML/CFT Breaches

17/03/2021

Yardley Securities processed and approved third party fund transfers without proper due diligence. Staff were not aware their employer had an MLRO.