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Market Infrastructure
Changes to Hong Kong OFC Regime Take Effect Immediately
By Editors | 13/09/2020
Private OFCs are no longer subject to investment restrictions and securities brokers are now eligible to be OFC custodians, among other changes.
Market Infrastructure
A Detailed Look at MAS’ New Accountability Guidelines
By Grace Chong | 11/09/2020
Grace Chong and Si Rong Low at Simmons & Simmons JWS detail the key points of MAS’ final guidelines on individual accountability and conduct.
ESG / Sustainability
NGFS Seeks Wider Adoption of Environmental Risk Analysis at FIs
By Editors | 10/09/2020
The NGFS is calling for wider use of ERA in the financial industry, offering case studies to showcase the adoption of ERA tools and methodologies by some FIs.
ESG / Sustainability
CFTC Report Warns of Systemic Risks from Climate Change
By Manesh Samtani | 10/09/2020
The report calls on financial regulators to move “urgently and decisively” to measure, understand, and address the risks climate change poses to the US financial system.
ESG / Sustainability
IOSCO to Harmonise Global ESG Disclosure Frameworks – Report
By Editors | 10/09/2020
A new IOSCO taskforce will work to identify commonalities across sustainability disclosure standards from across the world to develop principles-based guidelines.
Market Infrastructure
MAS Finalises Individual Accountability and Conduct Guidelines
By Manesh Samtani | 10/09/2020
Financial institutions are expected to strengthen senior manager accountability and promote a culture of ethical behaviour. The guidelines take effect on 10 September 2021.
AML / KYC
FIA Releases Surveillance and Market Abuse Guidelines
By Editors | 09/09/2020
The guidelines cover requirements relating to monitoring, surveillance systems and the filing of suspicious transaction and order reports under the EU’s Market Abuse Regulation.
Market Infrastructure
MAS to Intensify Supervisory Engagement to Drive SORA Transition
By Manesh Samtani | 09/09/2020
In an ABS virtual roundtable, MAS deputy managing director Jacqueline Loh spoke of a three-pillar approach to support a smooth transition from SOR to SORA.
Fintech / Regtech
Mastercard Launches Virtual Testing Environment for CBDCs
By Editors | 09/09/2020
The platform enables the simulation of issuance, distribution and exchange of CBDCs between banks, financial service providers and consumers.
Market Infrastructure
China Announces Global Initiative to Safeguard Data Security
By Editors | 08/09/2020
The initiative opposes the creation of backdoors in technology products, large-scale surveillance of other countries, and the illegal acquisition of foreign citizens’ personal data.
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