[Hong
Kong] SFC concludes consultation on anti-money laundering guidelines
SFC
News, 15 Sept 2021
The
SFC released consultation conclusions on proposed amendments to its anti-money
laundering and counter-financing of terrorism (AML/CFT) guidelines. The amendments
aim to align the guidelines with the Financial Action Task Force’s AML/CFT
standards, which include additional guidance to facilitate the implementation
of risk-based AML/CFT measures by securities industry participants. The revised
guidelines also provide greater clarity and additional flexibility in meeting
the requirements for cross-border correspondent relationships. The revised
AML/CFT guidelines will become effective upon gazettal on 30 September 2021,
with the exception of the new cross-border correspondent relationships
requirements, which will take effect on 30 March 2022.
Full
text: click here;
Consultation conclusions: click here
[Hong
Kong] Frequently Asked Questions (FAQs) on Anti-Money
Laundering and Counter-Financing of Terrorism
SFC
FAQs, 15 Sept 2021
The
SFC updated its Frequently Asked Questions (FAQs) on Anti-Money Laundering and
Counter-Financing of Terrorism.
Full
text: click here
[Hong
Kong & Mainland China] Joint Announcement of the People’s Bank of China and
the Hong Kong Monetary Authority
HKMA
News, 15 Sept 2021
The
People’s Bank of China (PBoC) and the Hong Kong Monetary Authority (HKMA) have
approved Mainland financial infrastructure services institutions, together with
Hong Kong Exchanges and Clearing Limited and Central Moneymarkets Unit of the
HKMA and custodian banks of Hong Kong (together the “Hong Kong financial
infrastructure services institutions”), to collaborate in establishing
Southbound Trading under mutual bond market access between Hong Kong and
Mainland China (Southbound Bond
Connect). Southbound Bond Connect will be launched on 24 September 2021.
Full
text: click here
[Hong
Kong & Mainland China] HKMA welcomes Southbound Trading under Bond Connect
HKMA
News, 15 Sept 2021
The
HKMA and the PBOC have agreed on the principles of cross-boundary supervisory
cooperation under Southbound Trading and have signed an amended version of
“Memorandum of Understanding between the People’s Bank of China and Hong Kong
Monetary Authority on Strengthening Supervisory Cooperation under Bond
Connect”. Southbound Trading under Bond Connect will provide Mainland
institutional investors with a convenient and secure channel to invest in the
Hong Kong bond market via the connection between the Mainland and Hong Kong
financial infrastructure services institutions.
Full
text: click here;
MoU: click here
[Singapore]
Joint Statement By Monetary Authority of Singapore And Securities and Exchange
Commission of Thailand - MAS and SEC Thailand welcome the launch of the
Thailand-Singapore DR Linkage
MAS
News, 15 Sept 2021
The
Monetary Authority of Singapore (MAS) and the Securities and Exchange
Commission of Thailand (SEC Thailand) welcome the launch of the
Thailand-Singapore Depositary Receipts (DR) Linkage by the Singapore Exchange
(SGX) and the Stock Exchange of Thailand (SET). Under the DR Linkage,
depositary receipts representing securities listed on one market will be issued
for trading on the other. The enhanced connectivity between the two markets
will increase cross-border investment opportunities for investors.
Full
text: click here
[Hong
Kong & Mainland China] Bond link a win-win for mainland, HK: Officials
China
Daily, 16 Sept 2021
In
the initial stage of the Southbound Bond Connect, eligible investors will
include a selected number of primary dealers for open market operations in the
mainland as approved by the central bank, qualified domestic institutional
investors and RMB qualified domestic institutional investors. All types of
bonds issued offshore and tradable in the Hong Kong bond market will be allowed
to trade, with primary dealers subject to an annual quota of 500 billion yuan
and a daily quota of 20 billion yuan. Eddie Yue, chief executive of the HKMA,
said given that the demand of mainland financial institutions for overseas
asset allocation has continued to grow, "the southbound trading will
enable mainland financial institutions to increase the allocation of offshore
bond assets through Hong Kong in a convenient and secure manner".
Full
text: click here
