Fintech / Regtech

Australia Consults on Regulatory Framework for Financial Advice

29/03/2022

The consultation asks how fintech could help reduce financial advice costs and how to make advice more accessible, including through robo-advisers.

Enforcement

ASIC Probes Fund Managers for Misleading Marketing

24/03/2022

ASIC is assessing whether fund managers made false or misleading statements or engaged in misleading or deceptive conduct when marketing their funds.

Securities / Derivatives

Hainan to Launch Carbon Market in H2 This Year

23/03/2022

The establishment of the Hainan International Carbon Emissions Trading Exchange was approved by provincial officials last month.

Fintech / Regtech

BIS, Central Banks Complete Development of Multi-CBDC Prototypes

23/03/2022

The initial phase of Project Dunbar has proved that the concept of multi-CBDCs is technically viable, says a new project report.

ASIC Warns on Using ‘Influencers’ to Promote Financial Products

22/03/2022

ASIC places responsibility firmly on AFS licensees to ensure that any influencers they use and the financial-related content they present complies with the law.

Enforcement

HKEX Censures Six Directors Over “Unchecked Spending Spree”

19/03/2022

The investment holding company spent over HK$60mn of company money to acquire luxury assets including a HK$24.5mn yacht, a HK$20mn diamond, seven cars, and 57 paintings.

Securities / Derivatives

Hong Kong’s First SPAC Listing Debuts on HKEX Main Board

18/03/2022

Aquila Acquisition Corporation was the first SPAC in Hong Kong to win approval from HKEX for a listing since the city’s SPAC listing regime was introduced.

Fintech / Regtech

Australian Regulators Call for Action to Regulate Crypto Sector

18/03/2022

The RBA’s Philip Lowe, ASIC’s Joe Longo and APRA’s Wayne Byres are calling additional regulation to protect consumers from risks associated with the crypto sector.

Market Infrastructure

SFC Seeks to Allow Broker Participation in GBA Wealth Connect

18/03/2022

A hurdle that still needs to be overcome is that Hong Kong brokerages are currently prohibited from distribution and soliciting clients in mainland China.