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Markets & Infrastructure
Structural Regulation
SFC Issues Guidance on Offering Hong Kong Funds in UAE
By Mark Johnston | 11/04/2024
The SFC published an information sheet providing guidance on how Hong Kong funds can be offered to investors in the DIFC and the UAE more broadly.
Clearing & Post-Trade
EU Seeks to Coordinate T+1 Transition with UK, Switzerland
By Editors | 11/04/2024
The European T+1 Industry Task Force said alignment will reduce the complexity for multi-jurisdictional firms and minimise scoping issues.
Payments & Settlements
Chinese Authorities Issue New Directions to Enhance Payment Services
By Editors | 11/04/2024
The new measures require certain hotels and tourist attractions to accept domestic and overseas bank cards and cash, and offer foreign exchange services.
Structural Regulation
US Treasury Proposes Rules for New Stock Buyback Excise Tax
By Editors | 10/04/2024
Corporations that undertake stock buybacks will have to pay a 1% excise tax on the fair market value of net repurchased shares during a tax year.
Structural Regulation
UBS Considers Stake Swap to Exit Credit Suisse China Venture
By Editors | 10/04/2024
UBS took control of the Credit Suisse venture last year and then put it up for sale due to restrictions on it holding majority stakes in two domestic brokerages simultaneously.
Market Data & Technology
EU Firms “Prepared” to Meet UPI Reporting Requirments: DSB
By Editors | 10/04/2024
The DSB said its user onboarding data reveals a steady increase in EU headquartered firms joining the UPI service.
Trading & Investment
NAFMII Publishes Standard Agreement for Swap Connect
By Editors | 10/04/2024
The agreement is intended for use by domestic and foreign counterparties trading interest rate derivatives under Swap Connect.
Operational Risk
BNM Directs CIMB, Maybank to Explain Recent Service Outages
By Editors | 10/04/2024
CIMB Malaysia experienced service disruptions on some of its services on Tuesday, while Maybank saw some disruptions last Friday.
Payments & Settlements
China: SAFE Further Optimises Processes for FX Business
By Editors | 09/04/2024
The requirement for local branches of SAFE to approve registrations of foreign trade enterprises has been canceled. Banks will directly handle registrations instead.
Trading & Investment
Japan Launches New Organisation to Boost Financial Literacy
By Editors | 09/04/2024
The new organisation will aim to enrich financial and economic education and contribute to improving financial literacy in Japan.
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