Market Infrastructure

Hong Kong IA Consults on Subsidiary Rules for Risk-based Capital Regime

08/12/2023

The IA is consulting on two subsidiary rules to tie in with the implementation of a risk-based capital regime for insurers set to commence next year.

HKAB, DTCA Issue Revised Banking Code of Practice

08/12/2023

Banks are expected to achieve full compliance with the new Code within 6 months. More time is given for provisions involving complex system changes.

Market Infrastructure

HSBC Trials Quantum Protection for AI-powered FX Trading

07/12/2023

HSBC is using its own AI-powered tool to safeguard trades of any value from quantum attacks and other cyber risks.

Enforcement

ASIC Fines Instinet Over ‘Set and Forget’ Compliance Culture

07/12/2023

ASIC said Nomura subsidiary Instinet failed to provide clients with all necessary information about the operation of its crossing system.

IA, HKMA Start New Inspections on Use of Premium Financing

07/12/2023

The IA and HKMA will assess compliance with new standards on the use of premium financing for life policies.

Uncategorised

HK SFC Adds Two New Suspicious VATPs on Alert List

07/12/2023

The SFC has warned the public to be wary of two suspicious VATPs – HongKongDAO and BitCuped – and asked the police to block them.

Enforcement

FSC Korea Sanctions NH Futures Over Illegal FX Transactions

06/12/2023

The FSC has suspended NH Futures’ foreign exchange operations from 4 December 2023 to 9 May 2024.

Enforcement

ASIC Warns Online Trading Providers Over Risky Offers

06/12/2023

ASIC found that some online trading providers unfairly influenced consumer decisions and made misleading disclosures during the Covid-19 pandemic.

Securities / Derivatives

SGX Sets Out Listing Requirements for Active ETFs

06/12/2023

Active ETF managers must publish indicative NAV throughout the trading day, disclose NAV daily, and publish fund performance and portfolio holdings monthly.