Markets & Infrastructure

Structural Regulation

SFC Waives Annual Licensing Fees for 2023/24 Financial Year

By Editors | 27/03/2023

The annual licensing fees were first waived for the 2020/21 financial year for a one year period, but it has since been extended each year.

Resolution & Recovery

First Citizens Bank to Takeover SVB Deposits and Loans

By Manesh Samtani | 27/03/2023

The FDIC and First Citizens Bank & Trust Co will share the losses and potential recoveries on commercial loans made by SVB.

Structural Regulation

Hong Kong: New Regime for Depositaries to Start in Oct 2024

By Sanday Chongo Kabange | 27/03/2023

Electronic licensing forms for RA 13 will be available in Q3 2023. Depositaries operating in Hong Kong will then have four months to submit a licensing application.

Trading & Investment

Macau Launches Charles Li’s New Financial Assets Exchange

By Sanday Chongo Kabange | 27/03/2023

The exchange will trade in certificates that entitle holders to daily cash flows from micro and small businesses in Mainland China.

Clearing & Post-Trade

SWIFT Pilots Blockchain Solution to Tackle Corporate Actions Frictions

By Editors | 27/03/2023

The solution demonstrated the potential to reduce manual effort and errors in corporate action processing and deliver operational efficiencies.

Structural Regulation

HKEX Finalises New Listing Rules for Specialist Tech Firms

By Editors | 27/03/2023

HKEX has lowered the threshold for specialist tech firms to list on its exchange and made other refinements. The rules take effect from 31 March.

Conduct, Culture & Accountability

ESMA Fines S&P Global Ratings for Breaching CRA Rules

By Mark Johnston | 24/03/2023

S&P prematurely published credit ratings before securities were issued, failed to disclose decisions for discontinuing some credit ratings, and took too long to correct factual errors in reported data.

Clearing & Post-Trade

Australia Proposes Measures to Improve Competition in Clearing and Settlement

By Sanday Chongo Kabange | 24/03/2023

ASIC will gain rule-making and enforcement powers and the ACCC arbitration powers, enabling them to enhance competition in the provision of clearing and settlement services.

Tokenisation

ESMA Goes Live With New DLT Pilot Regime

By Editors | 23/03/2023

Firms can apply for permission to operate DLT-based market infrastructures and receive exemptions from the MiFIR, MiFID II and CSDR.