Market Infrastructure

MAS Announces Measures to Develop Financial Sector Workforce

26/11/2020

MAS will launch a new Work-Study Support Programme to develop job-ready graduates and extend the Training Allowance Grant for company-sponsored trainees by six months.

Capital / Liquidity

CBIRC Finalises Enhanced Rules for Trust Companies

26/11/2020

The new rules will take effect on 1 January, strengthening requirements for shareholders, managers and independent directors of trust companies.

Enforcement

SFC Bans Ex Sun Hung Kai Account Exec Over Discretionary Trading

26/11/2020

The former licensed representative effected transactions in two clients’ accounts on a discretionary basis without obtaining prior written authorisations or senior management approval.

Capital / Liquidity

APRA to Integrate AASB 17 with Capital, Reporting Frameworks

26/11/2020

A failure to update the frameworks would result in insurers needing to maintain dual valuation, actuarial, accounting and reporting systems, APRA says.

Market Infrastructure

Australia Concludes Review of Retirement Income System

26/11/2020

The review signals little urgency to increase compulsory employer superannuation payments, as legislated, to 12 percent by 2025.

Market Infrastructure

BOT Relaxes Investment Restrictions to Hold Down Baht

26/11/2020

The changes will make it easier for residents to invest overseas and hold foreign currency at local banks. ETFs tracking foreign securities will be allowed to list in Thailand.

Market Infrastructure

ORX Expands Operational Risk Taxonomy for Financial Services

26/11/2020

The 2020 iteration of the taxonomy has been extended to include operational risks causes and impacts, to allows firms to add context to their data.

Market Infrastructure

NZX Formalises Role of Technology Committee in Enhancing Governance

26/11/2020

The specialist committee was established in April as an interim measure in response to technical issues stemming from record trading volumes.

Enforcement

SFC Bans Ex-StanChart Banker For Concealing Personal Trades

25/11/2020

The SFC’s decision followed a referral from the HKMA, which discovered that the former banker also wilfully misrepresented himself to the Appeals Tribunal.