Structural Regulation

Hong Kong: New Regime for Depositaries to Start in Oct 2024

27/03/2023

Electronic licensing forms for RA 13 will be available in Q3 2023. Depositaries operating in Hong Kong will then have four months to submit a licensing application.

Trading & Investment

Macau Launches Charles Li’s New Financial Assets Exchange

27/03/2023

The exchange will trade in certificates that entitle holders to daily cash flows from micro and small businesses in Mainland China.

Cryptocurrency

US SEC Warns Against Investing in Crypto Assets

24/03/2023

The SEC warns against dealing with unregistered crypto platforms and in unregistered crypto asset securities, though it doesn’t have a registration path for such products.

Clearing & Post-Trade

Australia Proposes Measures to Improve Competition in Clearing and Settlement

24/03/2023

ASIC will gain rule-making and enforcement powers and the ACCC arbitration powers, enabling them to enhance competition in the provision of clearing and settlement services.

Cloud & Infrastructure

Hong Kong’s Fusion Bank Launches Business Banking Services

23/03/2023

Fusion Bank promises SMEs a “hassle-free” account opening experience and a six month exemption on fees for new accounts.

Emerging Prudential Risks

APRA Directs Banks to Declare Links to Crypto Firms

23/03/2023

APRA has asked banks to declare and report their business ties to crypto firms and start-ups, which worry increased supervision will make it harder to access financial services.

Sustainable Finance

HKMA Chief Outlines Plans to Continue Developing Green Bond Market

21/03/2023

At ASIFMA’s event on Friday, Eddie Yue said some future green bonds will be set aside for MPF funds, and that Hong Kong’s green bond programme will expand to cover sustainable bonds.

Stablecoins

Mastercard Working on Integration to Enable Stablecoin Spending

21/03/2023

The Mastercard-Stables project will allow users to spend stablecoin balances on everyday purchases without first converting it to fiat.

Structural Regulation

New Zealand Financial Advice Regime Takes Full Effect

20/03/2023

Transitional licences have expired. All advisers must now hold or operate under a full licence to provide regulated financial advice to retail clients.