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Alternative Markets
DBS, Temasek to Launch Debt Financing Platform, EvolutionX
By Editors | 01/08/2021
The new platform will help founder entrepreneurs avoid dilution of share equity in their companies’ initial stages of development.
Structural Regulation
CBIRC Grants Approval to Allianz Insurance Asset Management
By Editors | 01/08/2021
The approval will make Allianz China IMAC the first fully foreign-owned insurance asset management company on the Chinese mainland.
Custody & Infrastructure
CSRC Grants Citigroup Approval to Launch Custody Business
By Editors | 01/08/2021
The licence allows Citi to provide custody services for fund products issued by fund firms or other asset managers in China.
PEPs & Sanctions
State Street Updates TraHK Prospectus as US Sanctions Take Effect
By Sanday Chongo Kabange | 01/08/2021
In an addendum, State Street says TraHK units will not be offered or sold in the US or to US persons located outside the US.
Conduct, Culture & Accountability
AIA New Zealand Faces Penalty for Misleading Customers
By Ranamita Chakraborty | 01/08/2021
AIA’s remediation process is complete and it has reviewed its systems and processes to make sure the breaches did not recur.
Structural Regulation
FMSB Finalises Standard on Use of Term SONIA
By Manesh Samtani | 31/07/2021
Use cases for Term SONIA include trade finance, working capital products, Islamic finance, export finance, and emerging markets lending.
Trading & Investment
ARRC Formally Recommends CME Group SOFR Term Rates
By Editors | 31/07/2021
Forward-looking term rates are needed for syndicated and bilateral corporate loans, as well as in the CLO and leveraged loans markets.
Cryptocurrency
Ripple Opens Japan-Philippines Remittance Corridor
By Manesh Samtani | 31/07/2021
Japan’s SBI Remit will connect with Coins.ph and crypto exchange SBI VC Trade to open the remittance corridor, leveraging Ripple’s on-demand liquidity service.
Structural Regulation
US SEC to Require New Disclosures from Chinese Issuers
By Manesh Samtani | 31/07/2021
Chinese issuers with VIE structures will have to “prominently and clearly” disclose that they face uncertainty about future actions by the Chinese government.
Structural Regulation
BSP Grants Fourth Digital Bank Licence to UnionBank
By Editors | 31/07/2021
UnionBank is the latest to receive the licence after Landbank’s Overseas Filipino Bank, Tonik Bank, and UNOBank.
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