Enforcement

Global Regulators Heighten Scrutiny Over ESG Mislabelling – Reports

09/09/2021

Increased scrutiny from US, EU and UK regulators have forced asset managers to review current practices for classifying funds as ESG-focused.

Enforcement

Singapore Court Jails Russian National for Deceiving Banks

09/09/2021

The banks were deceived regarding true beneficial ownership in their decision to open bank accounts between 2014 to 2017.

ESG / Sustainability

Hong Kong Explores Role in Unified GBA Carbon Market

08/09/2021

Hong Kong is exploring opportunities to establish a unified carbon market in the Greater Bay Area, leveraging the Guangdong ETS and Shenzhen ETS.

Enforcement

CSRC to Bolster Supervision of Securities, Fund Practitioners

08/09/2021

The CSRC will organise on-site inspections to ensure securities and fund practitioners adhere to professional ethics obligations and improve governance.

Market Infrastructure

China, Indonesia Launches Local Currency Settlement Framework

08/09/2021

Bank Indonesia has also recently expanded its local currency settlement frameworks with Japan, Malaysia and Thailand.

Securities / Derivatives

Chinese Banks Start to Restrict FX Services Amid Risk Concerns

07/09/2021

State-owned lender Huaxia Bank has restricted some of its FX services amid regulatory concerns over yuan volatility.

Market Infrastructure

ASIC Issues Final Guidance on Breach Reporting Obligations

07/09/2021

Licensees should have in place clear, well-understood and documented processes for identifying, recording, assessing, escalating and reporting breaches.

Market Infrastructure

S. Korea: New FSC, FSS Chiefs to Rebuild Cooperative Relations

07/09/2021

The new chiefs of the FSC and FSS held their first official meeting since taking office. They pledged to unite on issues such as household debt and Covid-19.

Market Infrastructure

Hainan to Pilot Cross-Border Asset Management Trials

06/09/2021

Hainan’s also plans also launch QFLP and QDLP trials and enhanced currency convertibility to facilitate cross-border trade and investment.