AML / KYC

Hong Kong: GDF Warns Against Restricting Retail Investment in Crypto

16/02/2021

The November FSTB proposal to only allow VASPs to offer services to professional investors could prompt retail investors to move to unlicensed platforms, GDF says.

Market Infrastructure

HKMA Raises Expectations for Bank Codes of Conduct

14/02/2021

Codes of Conduct should include provisions to address conflicts of interest, promote a culture of accountability and encourage staff to report unethical practices.

Fintech / Regtech

HSBC, HKTVmall Join Forces to Enhance Access to Trade Finance

11/02/2021

HSBC will leverage commercial data from HKTVmall to analyse and forecast business performance during credit assessment, making loan approval faster and simpler.

ESG / Sustainability

PBOC to Step Up Efforts to Advance Green Finance Agenda

11/02/2021

A comparative study is about to be completed, which will pave the way for the launch of a China-EU Shared Classification Catalogue for Green Finance later this year.

Market Infrastructure

G-SIBs to Spend Over $100m on IBOR Budget in 2021: EY

09/02/2021

Banks of all sizes felt most of their budget would be spent on technology, followed by legal contract repapering. A shortage of legal resources remains a clear risk.

Securities / Derivatives

HKEX Appoints JP Morgan’s Nicolas Aguzin as New CEO

09/02/2021

Aguzin is expected to help HKEX continue to build its competitiveness and support the ongoing growth and development of Hong Kong’s financial markets.

Market Infrastructure

Singapore: Enhanced Personal Data Protection Act Takes Effect

08/02/2021

The enhanced PDPA introduces mandatory data breach notification, criminal penalties for mishandling data, and a higher cap on penalties for breaches by large organisations.

AML / KYC

Greater Bay Regulators Sign MoU on Wealth Management Connect

07/02/2021

The regulators agree to issue guidance to banks on product due diligence, investor protection, AML/CFT requirements and personal data protection, among other areas.

Securities / Derivatives

Asian Regulators Issue Warnings as GameStop Remains in Focus

04/02/2021

Authorities in Hong Kong, Singapore, Korea and Malaysia are among those issuing warnings of possible investor losses as heightened volatility continues.