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Reporting on regulatory frameworks and rules governing market design, authorisation, and oversight of key financial market participants and infrastructures.
Conduct, Culture & Accountability
New Competency Framework to Take Effect from January: SFC
By Editors | 21/06/2021
Raising professional standards is crucial to maintain quality markets, particularly in view of the rapidly evolving financial landscape, says SFC chief Ashley Alder.
Structural Regulation
CBIRC Approves First Fully Foreign Owned Money Broker
By Editors | 20/06/2021
Japan’s Ueda Yagi Tanshi will become the first foreign firm to commence currency brokerage business in China under a fully-owned unit.
Trading & Investment
Hong Kong-Thailand Mutual Recognition of Funds Takes Effect
By Manesh Samtani | 17/06/2021
Hong Kong’s SFC and Thailand’s SEC say the MRF scheme has taken effect. Both have issued new guidance on obtaining authorisation under the scheme.
Structural Regulation
BSP to Issue Strict Regulations On ‘Digital Bank’ Branding
By Ranamita Chakraborty | 17/06/2021
Banks that do not meet specified conditions are prohibited from marketing themselves as digital banks, the BSP said in a circular.
Trading & Investment
UK Regulators Support US ‘SOFR First’ Proposal on Interdealer Swaps
By Editors | 17/06/2021
The FCA and BOE encourage liquidity providers to change USD linear swap trading conventions from USD LIBOR to SOFR on 26 July 2021.
Structural Regulation
Korea Allows Securities Firms to Extend Credit to Overseas Affiliates
By Sanday Chongo Kabange | 16/06/2021
Large securities firms will be allowed to extend credit to overseas branches and subsidiaries in which they have at least a 50 percent stake.
Conduct, Culture & Accountability
ASIC Sues Austal Over Breach of Continuous Disclosure Obligations
By Ranamita Chakraborty | 16/06/2021
Major shipbuilder Austal breached its continuous disclosure obligations in 2016 by failing to disclose a material change in its prior earnings guidance, ASIC says.
Structural Regulation
BIS Innovation Hub Launches Nordic Centre in Stockholm
By Manesh Samtani | 16/06/2021
The Nordic Centre was opened in collaboration with the central banks of Denmark, Iceland, Norway and Sweden.
Conduct, Culture & Accountability
CBIRC Reprimands Fintech Firm for Consumer Rights Violations
By Sanday Chongo Kabange | 16/06/2021
The CBIRC said Mashang Consumer Finance violated product pricing rules, consumer rights, and fair trade regulations.
Reporting & Disclosures
Japan: Revised Corporate Governance Code Takes Effect
By Manesh Samtani | 16/06/2021
The new code seeks to enhance board independence, promote board diversity, and increase attention on sustainability and ESG issues.
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