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Enforcement
IOSCO Issues Guidance on Addressing Misconduct During Stress Events
By Editors | 31/12/2020
Extreme price volatility, profitability pressures, psychological stressors, remote working and aggressive advertising were some of the drivers of misconduct risk during the pandemic.
Securities / Derivatives
HKFE Announces Launch Date for Hang Seng TECH Index Options
By Editors | 31/12/2020
The Hang Seng TECH Index Futures, introduced in November, have now been certified by the CFTC to be offered and sold to persons in the US.
Securities / Derivatives
IOSCO Seeks Views from Market Participants on ETF Market
By Editors | 30/12/2020
IOSCO asks asset managers, liquidity providers and market-makers to help it obtain a more granular understanding of ETFs.
Market Infrastructure
HKEX to Introduce New Market Access Platform in Q3 2021
By Editors | 30/12/2020
Phase 1 will involve the technical migration from the Orion Central Gateway to the new Cash Market Gateway in Q3 2021.
Securities / Derivatives
HKEX Clears First Cross Currency Swaps for Japanese FIs
By Editors | 29/12/2020
Japan’s FSA granted HKEX’s OTC Clear a licence allowing it to offer clearing services to Japanese financial institutions in January 2020.
Securities / Derivatives
NYSE Gets SEC Green Lights to Allow Direct Listings
By Editors | 29/12/2020
Companies will be able to directly sell shares in an auction without a traditional underwriter, enabling investors to participate in new listings more readily.
Enforcement
CBIRC Takes Control of Trust Company Accused of Embezzlement
By Editors | 24/12/2020
A joint working team comprising CBIRC and local government officials was dispatched to Sichuan Trust to supervise operations and carry out a management reshuffle.
AML / KYC
SFC to Require OFCs to Appoint Responsible Person for AML
By Editors | 23/12/2020
The requirement replaces an earlier proposal for OFCs to maintain a significant controllers register, which was deemed too operationally burdensome.
Securities / Derivatives
Shanghai International Energy Exchange Optimises FX Conversion Model
By Editors | 23/12/2020
To date, FX conversion has been carried out daily. Under the new model, FX conversion can be carried out for overseas participants on a monthly basis.
Enforcement
SFC Fines Fulbright Securities Over Short Selling Controls
By Editors | 23/12/2020
Fulbright Securities failed to detect and prevent illegal short selling failures in at least 93 instances over a period of at least six months.
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