SFC Unveils New Electronic Licensing Functions On WINGS

21/12/2020

The new online licensing platform marks an important milestone in the modernisation of the SFC’s gatekeeping function, said chief executive Ashley Alder.

Securities / Derivatives

HKMA Surveys PE Firms Seeking to Help Manage HK Growth Portfolio

21/12/2020

Interested private equity firms, local and overseas, are invited to take part in the survey on or before 22 January 2021.

Securities / Derivatives

APRA Intensifies Scrutiny of Underperforming Super Funds

21/12/2020

APRA will issue notices requiring eight trustees to provide information on the actions being taken to address underperformance. Formal enforcement powers may be used “where appropriate”.

Capital / Liquidity

CBIRC Grants Launch Approval to New National Bad Debt Manager

21/12/2020

China Galaxy Asset Management will receive its licence within ten days, and proceed with the necessary procedures to open for business in early 2021.

AML / KYC

Taiwan to Lower Payment Thresholds for Customer Notification

21/12/2020

The move is aimed at combatting rising financial fraud as consumers increasingly prefer e-payments over the use of credit cards.

Fintech / Regtech

APRA Sets September Go-Live for New Data Collection Solution

21/12/2020

The timing of regulatory data reporting commencing in APRA Connect will vary by industry. Existing data collections for banks will continue through D2A for the time being.

Securities / Derivatives

Hong Kong Bourse to Introduce Paperless IPO Regime in July

21/12/2020

From 5 July 2021, listing documents must be published solely in an electronic format, and new subscriptions must be made through online channels only.

AML / KYC

Intermediaries Should Lay Down Anti-bribery Policies: SFC

21/12/2020

Intermediaries should draw reference from the sample code of conduct issued by the ICAC and provide appropriate training to directors, staff members and agents.

Market Infrastructure

HKMA Unveils Enhanced Competency Framework on Operational Risk

20/12/2020

The new Enhanced Competency Framework is aimed at raising the professional competence of practitioners working in the operational risk management function of banks.