Legislative amendments will empower the FCA to prohibit or limit the use of LIBOR, or to direct a change in its methodology, to address the issue of 'tough legacy' contracts.
Under draft rules, government approval will be required for investment in an Indian pension fund from land-border countries including China; a 49% cap is proposed for other foreign investors.
The new subsidiary will become the first wholly foreign-owned life insurance company approved for incorporation in mainland China.
CSDR's Settlement Discipline Regime could expose Asian firms to settlement failure penalties on their trades with EU counterparties, writes DTCC's Matt Johnson.
The pace of opening up China's capital market has further accelerated, in spite of the Covid-19 pandemic, CSRC chairman Yi Huiman said at the 12th Lujiazui Forum in Shanghai on Thursday.
Douglas Arner explains how Bitcoin, Libra, China's digital currency project, and Covid-19 have each played a role in catalysing what will be a fundamental reorientation of monetary and payment systems.
Key skill gaps in the banking workforce were identified in areas relating to technology and data, cybersecurity, core banking knowledge, regulation and compliance, and climate risk management.
These applicants assessed as eligible will progress to the next stage of assessment, where they will be invited to present their proposals via virtual meetings.
Initially, 'STAGE' will host information on the 44 green bonds and two ESG-related ETFs listed in Hong Kong. Over time, it could expand to include equities, overseas products, and derivatives.
Advisers would have had until the end of this year to complete the new Financial Adviser Standards and Ethics Authority exam. A newly-passed bill allows an extra year to do so.