Securities / Derivatives

US Federal Reserve Launches Bond-Buying Programme

16/06/2020

A step not taken during the 2008 GFC, the Fed has started to buy corporate bonds in the secondary market, in a bid to support market liquidity and ensure credit availability.

AML / KYC

HKMA Spotlights RegTech Use to Implement AML/CFT Measures

15/06/2020

The HKMA outlines four regtech use cases that support the effective implementation of AML/CFT measures at Hong Kong banks.

Market Infrastructure

MAS’ Menon Warns of Looming Debt Risks, Ratings Downgrades

11/06/2020

If Covid-19 is not contained, debt will accumulate and credit risks will mount, leading to ratings downgrades which will exacerbate existing stresses and cause asset sell-offs.

Fintech / Regtech

SFA Launches Self-assessment Framework, Toolkit for FinTechs

10/06/2020

The framework and toolkit allow FinTechs to benchmark themselves against minimum standards on outsourcing, technology risk, and cyber hygiene, helping to fast-track onboarding with FIs.

Securities / Derivatives

SFC to Narrow Scope of OTC Derivatives Licensing Regime

10/06/2020

The OTC derivatives licensing regime will not capture corporate treasury activities of non-financial groups, portfolio compression services, and certain portfolio management activities.

Market Infrastructure

Chinese Regulators Respond to US Threat Against Hong Kong

08/06/2020

The PBOC and CBIRC have offered assurances that Hong Kong’s status as an international financial centre will not be jeopardised under the new national security law.

Market Infrastructure

Australia to Further Tighten Foreign Investment Approval Process

07/06/2020

Under the new regime, a new “last resort power” will allow the Treasurer to force divestment on national security grounds even after approval is granted.

AML / KYC

Westpac Concludes Internal Probe into AML/CTF Failures

04/06/2020

Westpac said its IFTI non-reporting was due to a mix of technology and human errors dating back to 2009. Governance failures and unclear compliance accountabilities were also identified.

AML / KYC

HKMA Offers Guidance on AML Controls for Remote Onboarding

03/06/2020

The HKMA has published its observations of good practices used by authorised institutions to mitigate the potential risks of new technology adopted for remote onboarding.