Market Infrastructure

CPMI, IOSCO Identify Shortcomings in FMI Business Continuity Plans

22/07/2021

Some FMIs do not fully meet expectations with respect to recovery from operational incidents, such as natural disasters or IT systems outage.

Capital / Liquidity

BCBS to Amend Process for Reviewing G-SIB Methodology

21/07/2021

The BCBS plans to replace the existing three-year review cycle of the assessment methodology with a process of ongoing monitoring and review.

Capital / Liquidity

HKMA Revises Policy Manual on Bank Group Supervision

21/07/2021

The SPM module was revised to reflect the current supervisory approach and practices adopted by the HKMA and to incorporate international standards.

Capital / Liquidity

APRA Says Loan Deferrals Need Not be Treated as Arrears

20/07/2021

Banks will not need to treat the period of deferral being offered by banks to borrowers as a period of arrears or a loan restructuring.

AML / KYC

SFC Sanctions Sino-Rich Responsible Officers Over AML Breaches

20/07/2021

Sino-Rich Securities & Futures was fined for AML breaches in March. Its CEO and another director have been deemed responsible.

ACCC Wary of Potential NAB Bid for Citigroup Unit

18/07/2021

NAB is in talks about a possible acquisition of Citigroup’s Australian retail banking business. The ACCC says it is paying close attention.

AML / KYC

SFC Issues Warning on Unregulated Virtual Asset Platforms

18/07/2021

Soon after the SFC’s statement, Binance announced that stock tokens will no longer be available for purchase on its website.

Securities / Derivatives

China to Exempt Hong Kong IPOs from Cybersecurity Reviews

18/07/2021

Chinese officials have reportedly outlined an exemption from the requirement to undergo a cybersecurity review for companies destined for a Hong Kong IPO.

AML / KYC

US Government Warns Of Rising Business Risk in Hong Kong

18/07/2021

A business advisory from four US government agencies says US firms should be aware of the risks they face if they continue operating in Hong Kong.