Enforcement

ASIC Bans Former Director of Global Merces Funds Management

02/06/2021

The former director is being charged criminally for providing false information to auditors and falsifying the books of Global Merces.

ESG / Sustainability

FINMA to Require Banks, Insurers to Disclose Climate Risks

02/06/2021

New disclosure rules will enter into force on 1 July, requiring large banks and insurers to disclose climate-related financial risks.

Securities / Derivatives

CSRC Implements ‘Whitelist’ System for Securities Sector

02/06/2021

The 29 firms that have entered the “white list” will receive lower levels of supervisory scrutiny and be allowed greater flexibility in their business processes.

Market Infrastructure

Hong Kong, Shanghai Announce First ETF Cross-Listings

02/06/2021

The ETF cross-listing mechanism provides Chinese investors another avenue to access the Hong Kong market besides Stock Connect.

Market Infrastructure

FSB Proposes Global Targets for Enhancing Cross-border Payments

01/06/2021

The FSB proposes quantitative targets for improving cost, speed, transparency and access for cross-border wholesale payments, retail payments and remittances.

Securities / Derivatives

HKEX Waives Fees on Fixed Income & Money Market ETFs

01/06/2021

Trading tariffs and stock settlement fees have been waived for 29 fixed income and money market ETF trading counters.

Capital / Liquidity

CCP12 Calls for Global Coordination on Basel III Timelines

01/06/2021

Divergences of local implementation timelines could have unintended knock-on effects on certain bank and bank-affiliated clearing members.

Market Infrastructure

DBS, StanChart Execute First SORA Interbank Option Trade

31/05/2021

The interbank option trade was executed to manage market risk arising from a SORA interest rate option, which was also an industry first.

ESG / Sustainability

G7 to Agree Global Corporate Tax at July Meeting – Report

31/05/2021

A G7 draft communique said a global minimum corporate tax will be agreed to help alleviate the strain on public finances.