AML / KYC

Proliferation Financing Risk: A Due Diligence Challenge

19/05/2021

Measures for detecting proliferation financing risk are designed to help identify sanctions evasion and uncover the beneficial owners of corporate entities.

Market Infrastructure

HKMA Instructs Banks to Assess Need for Tertiary Data Backup

18/05/2021

Banks are asked to critically assess the need to set up a secure tertiary data backup to guard against destructive cyber attacks.

Securities / Derivatives

Japan to Start Holiday Trading in Derivatives in Sep 2022

18/05/2021

Osaka Exchange and Tokyo Commodity Exchange will begin holiday trading in index and commodity futures and options in September 2022.

Market Infrastructure

China & HK Agree Cross-border Insolvency Framework

18/05/2021

Hong Kong courts and Chinese courts in pilot cities will be able to recognise insolvency, bankruptcy and restructuring proceedings under each other’s laws.

Big Picture

Conduct Risk Management Shifts to ‘Predict and Prevent’ Approach

18/05/2021

In its annual Compendium on culture and conduct risk supervision, Starling highlights a shift from ‘detect and correct’ to ‘predict and prevent’.

Market Infrastructure

Credit Sensitive Alternatives to RFRs Have Limited Durability: Bailey

17/05/2021

Non-financial borrowers may not want their cost of borrowing to be driven by thin liquidity in CP and CD markets, says BOE governor Andrew Bailey.

Market Infrastructure

MAS to Expand Scope of Mandatory Reference Check Regime

16/05/2021

MAS proposes to expand the scope of FIs and employees subject to the mandatory reference checking regime. FIs will have to maintain records for all employees.

Fintech / Regtech

HKMA Sets Out Next Steps to Implement Open API Framework

13/05/2021

Phase 3 and 4 API functions will be implemented progressively by 28 participating banks starting from December 2021, the HKMA says.

ESG / Sustainability

SEBI Enhances Sustainability Reporting Rules for Listed Entities

12/05/2021

The new Business Responsibility and Sustainability Reports will contain disclosures relating to ESG risks, sustainability performance, environmental metrics, and social factors.