Structural Regulation

Payments & Settlements

PayPal Obtains Online Payments Licence in China

By Editors | 24/12/2019

PayPal’s acquisition of a majority stake in Gopay gives it access to licences that allow it to offer online, mobile and cross-border renminbi payments.

Structural Regulation

Macau Banks Encouraged to Set Up on Mainland: CBIRC

By Editors | 24/12/2019

China has unveiled a raft of policies to increase financial cooperation with Macau, largely seen as a reward for the city’s adherence to ‘One Country, Two Systems’.

Structural Regulation

Amundi-BOC Wealth Management JV Wins CBIRC Approval

By Editors | 23/12/2019

The joint venture is expected to launch during the second half of 2020. Amundi will own a 55% stake while BOC Wealth Management will own the other 45%.

Structural Regulation

SFC Proposes Enhancements to OFC Regime

By Editors | 23/12/2019

The changes include a mechanism for overseas corporate funds looking to re-domicile in Hong Kong. OFCs will also have to keep a register of beneficial shareholders.

Trading & Investment

Taiwan Eases Registration Rule for Foreign Employee Investment Accounts

By Editors | 23/12/2019

The overseas parent, subsidiary, branch office or representative office of Taiwan-listed companies may adopt the identity of a foreign institutional investor to register collective investment accounts for their overseas foreign employees.

Conduct, Culture & Accountability

ASIC Issues Draft Guidance on Product Design Obligations

By Editors | 21/12/2019

From April 2021, design and distribution obligations will require issuers to focus on meeting consumer needs when designing, marketing and distributing financial products.

Structural Regulation

SFC, CSRC Set Date for Southbound Investor Identification Regime

By Editors | 20/12/2019

With technical preparations now complete at exchanges and clearinghouses, southbound trading investor identification regime is scheduled for implementation on 13 January.

Structural Regulation

Indonesia Integrates Nine Bank Reports into Single Mechanism

By Editors | 20/12/2019

The integration aims to minimise redundant and inconsistent information, while simultaneously improving bank operational efficiency and the quality of reported data.

Payments & Settlements

China Raises Daily Remittance Limit for Macau Residents

By Editors | 20/12/2019

The move comes as President Xi Jinping visits Macau this week, amid expectations that further preferential policies will be announced to promote Macau as a financial centre.