Enforcement

S. Korean Regulators to Probe All Private Fund Operators

04/07/2020

A new inter-agency team, led by the FSS, will be established by mid-July, and refer any illegalities detected to authorities for ‘swift action’ including prosection.

Fintech / Regtech

BIS Innovation Hub Can Draw Lessons from GFIN

03/07/2020

As the BIS Innovation Hub widens its reach, success will rely on its ability to cultivate a supportive ecosystem which includes financial institutions and innovators alike.

ESG / Sustainability

HKMA Sets Out Principles for Supervisory Approach on Climate

01/07/2020

The HKMA expects the results of the industry greenness self-assessments in August 2020, which will inform its supervisory expectations ahead of a consultation next year.

Market Infrastructure

Covid-19 Liquidity Issues to Morph into Solvency Threat: BIS

30/06/2020

Once the acute illiquidity phase of the crisis passes and insolvency problems emerge, the onus of crisis management will shift from central banks to fiscal authorities.

AML / KYC

Hong Kong Autonomy Act Advances in US Congress

26/06/2020

Once signed into law, the Act will authorise the use of sanctions against individuals, entities and financial institutions in response to China’s new national security law for Hong Kong.

ESG / Sustainability

MAS Consults on Environmental Risk Management Guidelines for FIs

25/06/2020

The guidelines set out MAS’ supervisory expectations for banks, insurers and asset managers in their governance, risk management, and disclosure of environmental risk.

AML / KYC

FATF Report Addresses ‘Global Threat’ of Illegal Wildlife Trade

25/06/2020

The FATF calls for a coordinated response from public authorities, the private sector and civil society to identify and disrupt financial flows from illegal wildlife trade.

Market Infrastructure

CBDCs Could Amount to ‘Sea Change’ for Payments: BIS

24/06/2020

Covid-19 has highlighted unequal access to payment services for low-income and vulnerable groups. CBDCs present an opportunity to address this shortcoming.

Securities / Derivatives

‘Time is Ripe’ for Hong Kong to Launch A-share Derivatives: CSRC

23/06/2020

CSRC vice chairman Fang Xinghai says the launch of A-share based financial derivatives will bolster Hong Kong as an international financial centre, while also benefitting China’s capital markets.