Market Infrastructure

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.

Market Infrastructure

China Huarong Announces Bailout from State-owned Enterprises

By Manesh Samtani | 19/08/2021

Huarong will issue new shares to Citic Group, China Insurance Investment, China Life Asset Management, China Cinda Asset Management and Sino-Ocean Capital Holding.