Market Infrastructure

ASIC Probes Market Participants for Possible Best Execution Failures

21/12/2020

ASIC is concerned Chi-X as an alternative venue did not see more trading activity during ASX’s November outage, as would be expected given participants’ best execution duty to clients.

Market Infrastructure

MAS Consults on Proposed Notices for Outsourced Services

21/12/2020

Banks’ outsourcing agreements must include terms that grant MAS the right to audit the outsourced arrangement and obtain information from the service provider.

AML / KYC

PBOC Publishes Roadmap for Full LEI Adoption in China

18/12/2020

By end 2022, LEIs will be used in securities and derivatives trading, risk monitoring, regulatory reporting, listed company supervision and the digital yuan ecosystem.

AML / KYC

FATF Warns of Continued Criminal Exploitation of Covid-19

17/12/2020

The effective use of technology to support onboarding and ensure effective information sharing has become even more important, the FATF says.

ESG / Sustainability

Hong Kong Launches Strategic Plan for Greener Financial Ecosystem

17/12/2020

A cross-agency steering group has announced a green and sustainable finance strategy for Hong Kong and five key action points.

Securities / Derivatives

SGX Launches New Sustainability Platform, Plans New ESG Products

16/12/2020

SGX is bringing third-party ESG ratings to Singapore listed companies and will introduce new ESG-focused investment and risk management products.

AML / KYC

No Banks Subject to HKAA Secondary Sanctions: US Treasury

13/12/2020

In a report to Congress, the Treasury said it has not identified any foreign FIs that “knowingly” conducted significant transactions with the ten individuals sanctioned in October.

AML / KYC

Australia: AML Bill Passes Senate, DNFBP Amendment Rejected

13/12/2020

An AML bill introduced last October has passed the Senate but without last month’s amendment to include real estate agents, accountants, lawyers.

Market Infrastructure

Singapore Set Out Timelines for Full Discontinuation of SIBOR

11/12/2020

The one-month and three-month SIBOR will be discontinued by end-2024. The discontinuation of the six-month SIBOR may depend on the timing of cessation of USD LIBOR.