Markets & Infrastructure

Structural Regulation

HKMA Issues SPM on Supervision of Banks’ Insurance Business

By Editors | 01/07/2021

The HKMA’s enforcement standards with respect to insurance intermediary business of banks mirror those adopted by the IA.

Cryptocurrency

ASIC Proposes New Guidance for Crypto-asset ETPs

By Editors | 01/07/2021

In ASIC’s view, only bitcoin and ether are likely to satisfy proposed criteria for determining whether a crypto-asset is appropriate as an ETP’s underlying asset.

Market Data & Technology

SGX, Platts Partner to Provide Commodities Data, Content

By Editors | 01/07/2021

Titan OTC participants can access Platts’ data on commodities including iron ore, coking coal, steel, aluminum, copper, freight and battery metals.

Supervision & Enforcement

FINRA Orders Record Financial Penalties Against Robinhood

By Editors | 01/07/2021

Robinhood has been ordered to pay $70mn for systemic supervisory failures and significant harm suffered by millions of customers.

Clearing & Post-Trade

German Firms Validate Derivatives Use Case for Smart Contracts

By Sanday Chongo Kabange | 01/07/2021

Smart derivative contracts simplify and accelerate settlement processes of OTC derivatives and create economic advantages for counerparties.

Conduct, Culture & Accountability

MAS Proposes New Safeguards for Vulnerable Customers

By Editors | 30/06/2021

MAS proposes additional safeguards for clients receiving financial advice if they are elderly, not proficient in English, or have lower academic qualifications.

Structural Regulation

New Licensing Rules Take Effect for FIs in China

By Sanday Chongo Kabange | 30/06/2021

From 1 July, regulators will reissue new licences to banks and insurers, valid for one year, to allow for a transition and exchange period.

Structural Regulation

ASIC Product Intervention Order Upheld in Full Federal Court

By Editors | 30/06/2021

ASIC is entitled to consider not just the characteristics of a relevant financial product, but also the particular circumstances in which it is supplied, the Court said.

Conduct, Culture & Accountability

Australia Introduces Bill to Improve Financial Advice

By Editors | 30/06/2021

FASEA’s functions will transfer to the Treasury and ASIC. New disciplinary and registration systems for financial advisers will apply from January 2022.