Market Infrastructure

China Issues Data Security Rules for Accounting Firms

By Editors | 14/05/2024

The rules require audit working papers to be stored within China. Encryption devices and encryption keys must also be in China.

Enforcement

Singapore: Next Phase of FSMA Implementation Has Commenced

By Editors | 14/05/2024

MAS can now impose fines up to S$1mn for non-compliance with technology risk management requirements.

Fintech / Regtech

Mastercard Commences Bank Card Clearing Business in China

By Editors | 14/05/2024

Mastercard is the second overseas bank card clearing institution to start operating in China, after Amex in 2020.

Securities / Derivatives

MAS Finalises Rules for New OTC Derivatives Reporting Regime

By Manesh Samtani | 14/05/2024

The final regulations come into operation on 21 October 2024, introducing the UPI, UTI, CDE and ISO 20022 in reporting.

Securities / Derivatives

HKEX Stops Showing Real-time Stock Connect Data

By Manesh Samtani | 14/05/2024

The change is expected to reduce abnormal market swings, mitigate herd behaviour, and promote fairer access to information.

Market Infrastructure

Regulators Announce Enhancements to Swap Connect

By Sanday Chongo Kabange | 14/05/2024

The enhancements will enrich the tradeable products, improve ancillary services, and reduce investor participation costs.

Market Infrastructure

HKEX Announces Plans to Enhance Securities Clearing Arrangement

By Editors | 14/05/2024

The enhancement will allow exchange participants that are non-clearing participants to appoint more than one general clearing participant for the clearing and settlement of stock and options trades.

Market Infrastructure

Singapore Parliament Passes Cybersecurity Amendment Bill

By Nithya Subramanian | 13/05/2024

The amendments introduce stricter reporting requirements for owners of CII and give more teeth to the CSA.

Fintech / Regtech

FSC Korea Unveils Operation Plan for New ATS Market

By Manesh Samtani | 12/05/2024

The FSC will apply the best execution obligation to securities firms when Nextrade launches its new ATS platform in March 2025.

Securities / Derivatives

SIFMA to Lead Shared Ledger Project for Multi-asset Transactions

By Manesh Samtani | 10/05/2024

The project participants and contributors include Citi, JP Morgan, Mastercard, Swift, Visa, Broadridge, DTCC, ISDA, and others.

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