[Mainland China] China bans banks from selling deposit
products on third-party internet platforms
Business Times, 15 Jan 2021
China's
Banking and Regulatory Commission (CBIRC) banned commercial banks from using
third-party internet platforms to sell deposit products, including those
relating to fixed-term deposits. The move is designed to avoid spillover
financial risks brought by the rapid development of the financial technology
sector.
Full
text: click here
[Mainland
China] Ant Group creates work team to rectify business
China
Daily, 15 Jan 2021
Ant
Group, which was asked to return to its major services and keep a level playing
field by PBOC, has organized a work team to rectify its business under the
supervision of financial watchdogs. It is ordered to keep doing business, which
should not influence the financial service quality it provides to the public,
according to the PBOC official.
Full text: click here
[Hong Kong] HKEX to introduce new stock futures
contracts and option classes
HKEX News, 15 Jan 2021
Hong Kong Exchanges and Clearing Limited (HKEX)
announced the launch of two new stock futures contracts and two new stock
option classes on Monday, 25 January 2021. The new futures contracts to be
introduced are Wu Xi Biologics (Cayman) Inc and JD Health International Inc,
while the new options to be introduced are Wu Xi Biologics (Cayman) Inc and JD
Health International Inc.
Full text: click here
[Hong
Kong] New speech by Ashley Alder: Special remarks at the Asian Financial Forum
2021
SFC
News, 18 Jan 2021
The
Chief Executive Officer of SFC Mr Ashley Alder delivered a speech at the Asian
Financial Forum. He gave an update on the steps the new cross-agency steering
group, coordinated by the SFC and HKMA, has taken in the area of environmental
finance and climate change.
Full
text: click here
[Singapore]
MAS Enhances Guidelines to Combat Heightened Cyber Risks
MAS
Regulation, 18 Jan 2021
The
MAS issued revised Technology Risk Management Guidelines to keep pace with
emerging technologies and shifts in the cyber threat landscape. The Guidelines set
out risk management principles and best practices to guide financial
institutions to establish sound and robust technology risk governance and
oversight, as well as maintain IT and cyber resilience. The recent spate of
cyber attacks on supply chains, which targeted multiple IT service providers
through the exploitation of widely-used network management software, is a clear
indication of a worsening cyber threat environment. The revised Guidelines hence
set out enhanced risk mitigation strategies for FIs.