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Reporting on regulatory frameworks and rules governing market design, authorisation, and oversight of key financial market participants and infrastructures.
Trading & Investment
Taiwan FSC to Relax Rules for Securities Investment Trust Funds
By Darien Choong | 12/10/2021
Greater flexibility is provided for securities investment trust funds to invest in IPO stocks, CoCo bonds and TLAC bonds.
Trading & Investment
ARRC Publishes Spread-Adjusted Fallback Recommendations
By Editors | 12/10/2021
The document provides a reference point for market participants to understand the ARRC’s current recommendations in relation to its fallback language.
Trading & Investment
HKMA, SFC Outline Expectations on Sale of ILS Products
By Manesh Samtani | 11/10/2021
The circular follows the $30mn issuance of Hong Kong’s first catastrophe bond by Greater Bay Re, a state-sponsored special purpose vehicle.
Trading & Investment
HKFE Obtains CFTC Certification for A-share Futures
By Editors | 11/10/2021
The new contract will commence trading next week. The certification means it can be offered and sold to persons in the US.
Structural Regulation
New Zealand FMA Censures Derivatives Issuer FIRMA NZ
By Editors | 11/10/2021
Firma NZ failed to conduct product suitability tests for clients and to regularly provide statements to investors. The contraventions were “persistent and systemic”.
Conduct, Culture & Accountability
Australia: Industry Bodies Call for Expansion of CSLR
By Editors | 11/10/2021
15 organisations call for the compensation scheme of last resort to include product providers, managed investment schemes and the funeral expenses industry.
Emerging Prudential Risks
BSP Proposes Prudential Requirements for Digital Banks
By Editors | 11/10/2021
The BSP proposes a 3 percent RRR for digital banks, aligning them with thrift lenders. A 7th licence will not be issued at the stage as previously planned.
Cloud & Infrastructure
S. Korea to Tighten Rules for Bigtechs in Financial Services
By Sanday Chongo Kabange | 11/10/2021
FSS governor Jeong Eun-bo said regulators will seek to enable fair competition between digital platform providers and financial companies.
KYC & CDD
Singapore: Exemptions for Foreign Offices of FIs Take Effect
By Editors | 10/10/2021
Under the new ‘Branch Framework’, Singapore FIs have to assess whether their overseas representatives are acting on behalf of the Singapore office or the foreign office.
Structural Regulation
Global Tax Reforms Finalised, Implementation Set for 2023
By Manesh Samtani | 10/10/2021
Six holdouts from July including Ireland have now joined the global agreement to introduce a 15 percent minimum corporate tax rate globally.
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