Market Infrastructure

Hong Kong Capital Market to Increase Use of RMB

02/10/2021

HKMA chief Eddie Yue speaks of expanding the use of the RMB in Hong Kong stock market trading and a multi-year programme to enhance the CMU.

AML / KYC

NZ FMA Toughens Approach to AML Non-Compliance

30/09/2021

The FMA’s James Greig noted a lower tolerance for AML/CFT non-compliance, given the regime has been in place for eight years.

Market Infrastructure

ISDA to Change BSBY, Ameribor Fallback Language

30/09/2021

The FCA said the current fallback language for credit sensitive rates puts market participants at risk of breaching their obligations under BMR.

China Asks State-backed Firms to Buy Evergrande Assets – Report

29/09/2021

Government-owned firms and state-backed property developers have been asked to buy assets from Evergrande. Local governments have been asked to mediate.

Market Infrastructure

FCA Consults on Permitted Use of Synthetic LIBOR Rates

29/09/2021

The FCA proposes to permit legacy use of synthetic GBP and JPY LIBOR in all contracts except cleared derivatives for the duration of 2022.

Fintech / Regtech

Entity-based Regulation Needed to Address Bigtech Risks: BIS

29/09/2021

China’s financial holding company regime represents a novel entity-based regulatory approach for big techs, says a new BIS research paper.

Enforcement

Enforcement Should Drive Good Conduct, says HKEX’s Jon Witts

28/09/2021

HKEX’s approach to enforcement is designed to drive better conduct, governance and compliance culture, says Head of Listing Enforcement Jon Witts.

Market Infrastructure

Southbound Bond Connect Trading Officially Launched

26/09/2021

More than 40 mainland institutional investors and 11 Hong Kong market makers participated in the first day of trading.

AML / KYC

Korea: 29 Crypto Exchanges Meet Registration Deadline

26/09/2021

The applications will be processed within three months, following which approved exchanges will be subject to AML rules announced in March.