Big Picture

New Report Explores Outlook for Hong Kong Virtual Banks

17/03/2021

The paper features case studies of  Revolut and Tinkoff Bank, as well as insights from interviews with all eight Hong Kong virtual banks.

Fintech / Regtech

SGX, Marex Spectron Join Forces on Ferrous Analytics Tools

17/03/2021

Marex Spectron will apply its analytics tools on publicly available data for SGX commodity derivatives to provide Titan OTC participants with in-depth analysis and richer datasets

Securities / Derivatives

ESMA to End 0.1% Threshold for Short Position Reporting

16/03/2021

ESMA says the current financial market environment no longer resembles the emergency situation that required it to tighten short position reporting rules last March.

Securities / Derivatives

HKEX Sets Launch Date for Mini USD/CNH Futures

16/03/2021

The new contract will provide investors additional risk management tools, help them optimise their capital efficiency, and support the RMB’s internationalisation.

Enforcement

CSRC Fines Fund Manager ¥1.1m for Fraud, Embezzlement

16/03/2021

Cornerstone Capital’s controlling shareholder was also fined for fabricating the financials of funds managed by the firm.

Securities / Derivatives

ASEAN Capital Markets Forum Endorses Action Plan for 2021-2025

16/03/2021

The action plan focuses on the objectives of fostering growth with sustainability; promoting inclusiveness; and strengthening orderliness and resilience.

New Zealand Launches New Financial Advice Regime

15/03/2021

Anyone who gives regulated financial advice to retail clients must either hold or operate under a Financial Advice Provider licence granted by the FMA.

AML / KYC

HK, China Working to Simplify Cross-border Account Opening

15/03/2021

Regulators are reportedly working to simplify cross-border bank account opening processes to facilitate the launch of Wealth Management Connect.

JBA Issues Guidance in Response to Mizuho Glitches

15/03/2021

Banks are asked to carefully prepare for any major system upgrades involving extensive data processing, and to ensure appropriate lines of communication are established.