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ESG / Sustainability
SFC Finalises Climate Risk Requirements for Fund Managers
By Manesh Samtani | 22/08/2021
Fund managers have 12-15 months to comply with the requirements, which cover governance, investment management, risk management and disclosure.
Market Infrastructure
BSP Relaxes Rules on FX Trade Approval for Banks
By Editors | 22/08/2021
Banks can sell FX without prior BSP approval if they will be used for activities such as online e-commerce payments, certain imports of goods, and fee payments.
Fintech / Regtech
China: More Smaller Lenders Set to Join Digital Yuan Pilot
By Sanday Chongo Kabange | 22/08/2021
City Commercial Banks Clearing Company and the Rural Credit Bank Funds Clearing Centre have launched “one point integration” digital yuan systems.
Market Infrastructure
China Passes New Personal Data Protection Law
By Manesh Samtani | 22/08/2021
The law establishes a set of rules for the collection, processing and protection of personal information, effective from 1 November.
Market Infrastructure
HKEX Set to Launch A-share Index Futures in October
By Editors | 20/08/2021
The SFC approved HKEX’s launch of the new futures contract on Friday, calling it a major milestone for Hong Kong’s capital markets.
Market Infrastructure
FSS Korea Launches Probe into Electronic Payment Providers
By Manesh Samtani | 20/08/2021
The probe is a response to a growing scandal involving a local gift card provider, which offered users of its app large discounts and then changed its terms.
Market Infrastructure
ATO Consults on Tax Implications of IBOR Reform
By Manesh Samtani | 20/08/2021
The ATO has set out in a discussion paper the most common tax consequences that may arise from the transition from LIBOR to RFRs.
Market Infrastructure
Taiwan to Retain Day Trading Tax Cut After Expiry
By Editors | 20/08/2021
Three governmental agencies have agreed to extend the transaction tax cut for day trading after it expires at year-end.
Market Infrastructure
HKMA Sets Conditions for Issuing New USD LIBOR Contracts
By Manesh Samtani | 20/08/2021
In the fourth quarter, the frequency at which banks have to report data to the HKMA will also increase from quarterly to monthly, with a simplified reporting template.
Market Infrastructure
RBI Says Only Visa Complies With Data Localisation Rules
By Ranamita Chakraborty | 19/08/2021
Visa is the only foreign card network that complies with requirements for financial data on Indian customers to be stored locally, the RBI says.
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