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Structural Regulation
HKEX Considers Relaxing Listing Requirements for Tech Firms
By Editors | 14/09/2022
Under the proposals, the revenue requirement for commercialised tech firms would be lowered from HK$500 million to between HK$200-300 million.
Resolution & Recovery
FSB Seeks Feedback on Information Gathering Framework
By Editors | 14/09/2022
The FSB is seeking stakeholder input to inform the revision of its framework for gathering information from FMI Intermediaries to support resolution planning.
Clearing & Post-Trade
Japan FSA Proposes New Derivatives Reporting Guidance
By Editors | 14/09/2022
The draft guidelines explain the data fields that need to be included in reporting, along with technical specifications and best practices for reporting.
KYC & CDD
Singapore Introduces Bill to Enhance Business Trust Governance
By Editors | 13/09/2022
CEOs will have to disclose interests in transactions. Unlisted business trusts will have to obtain and maintain information on beneficial ownership of their units.
Cryptocurrency
US SEC to Establish New Office for Crypto-related Filings
By Manesh Samtani | 13/09/2022
In a recent speech, SEC chair Gary Gensler highlighted the need for better disclosures for crypto investors. He also said the “vast majority” of crypto tokens are securities.
Conduct, Culture & Accountability
Australia Reintroduces Legislation for Financial Accountability Regime
By Editors | 13/09/2022
If the legislation passes, the FAR will apply to banks six months after commencement, and to insurance and superannuation 18 months after commencement.
Cryptocurrency
SFC Allows HashKey to Manage Funds Comprising 100% Crypto
By Editors | 13/09/2022
HashKey says it will be allowed to manage funds exclusively investing in virtual assets in compliance with the SFC’s regulations
Conduct, Culture & Accountability
Australia Tables Bill to Establish Compensation Scheme of Last Resort
By Manesh Samtani | 13/09/2022
Some in the industry have expressed concerns that the CSLR does not go far enough, as its scope does not cover managed investment schemes.
Credit Risk
Singapore BNPL Code On Track to Launch This Year
By Sanday Chongo Kabange | 13/09/2022
BNPL providers are exploring a mechanism to share information with one another on customers’ outstanding amounts and their delinquency status.
Conduct, Culture & Accountability
FSDC Calls for Review of Hong Kong ‘Suitability’ Framework
By Manesh Samtani | 13/09/2022
The FSDC says Hong Kong’s suitability framework has grown too “complex” and the suitability obligations are “overly prescriptive”.
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