Insurance Authority extends the validity of temporary
facilitative measures to 30 September 2020
Insurance Authority Circular, 15 Jun 2020
In this
regard, Phase 2 of the TFM will be extended by three months to 30 September
2020 (based on policy application date) unless otherwise varied by the IA. For
the avoidance of doubt, the scope of products covered and the implementation
details remains unchanged.
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OTC Clear
Completes 1st Client Trade Via Client Clearing
HKEX
News, 15 Jun 2020
OTC Clear
provides clearing and settlement services for OTC derivative transactions. Its
client clearing services help OTC derivative market participants fulfil their
regulatory obligations, as well as benefit from the enhanced credit and capital
efficiency of central clearing. Hong Kong Exchanges and Clearing Limited (HKEX)
is pleased to announce that its over-the-counter (OTC) derivatives clearing
subsidiary, OTC Clearing Hong Kong Limited (OTC Clear), has successfully
cleared its first trade for client clearing services, with HSBC as the clearing
broker for Chong Hing Bank.
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ESMA Publishes
2019 Annual Report and Updates 2020 Annual Work Programme
ESMA
News, 15 Jun 2020
The Annual
Report sets out ESMA’s key actions taken in the previous year. In addition to
that and amid the COVID-19 outbreak, the Authority’s work has been recently
focusing on its response to the crisis. In order to reflect these challenging
times for the financial markets, ESMA has also published a revised version of
its 2020 annual Work Programme. The latter includes the Authority’s additional
work on its immediate reaction to the crisis and indicates potential
deprioritization regarding ongoing and future mandates.
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Safe
Transition to Phase Two of the Re-opening for the Financial Sector
MAS
Media Release, 15 Jun 2020
Financial
institutions (FIs) in Singapore that re-open more branches and customer service
locations and resume more in-person financial services from 2359 hours on 18
June 2020, must ensure that Safe Management measures are in place. This is in
line with the announcement by the Ministry of Health that Singapore will be
moving into Phase Two of the re-opening and the Ministry of Manpower’s
requirements for Safe Management measures at the workplace.
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China
unveils measures for registration-based system of ChiNext
China
Daily, 15 Jun 2020
The China
Securities Regulatory Commission (CSRC) said measures to regulate IPO
registration on ChiNext include stricter requirements for information
disclosure and legal and financial compliance. The CSRC said supervision will
be strengthened and issuers, intermediaries and other market entities will be
held accountable for violations of laws and regulations.
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Bass
faces the music after attack on Texan lender
The
Standard, 16 Jun 2020
The US
Securities and Exchange Commission is looking into whether statements made by
the hedge fund manager in relation to his short position in United Development
Funding IV conveyed false or misleading statements amounting to market
manipulation.
