[Hong Kong] Circular to Licensed Corporations OTC Derivatives Trade Reporting - Reporting Proprietary Rates Under Floating Rate Index Related Data Fields
SFC Circulars, 8 Dec 2020
The Hong Kong Trade Repository made an announcement about reporting proprietary rates under floating rate index related data fields for over-the-counter (OTC) derivatives trade reporting. "Proprietary rates" is enhanced to the coding scheme "FloatingRateIndex" to support reporting of proprietary rates under the floating rate index related data fields. Licensed Corporations that may be subject to mandatory reporting obligation are advised to refer to the announcement on the Hong Kong Trade Repository’s website.
Full text: click here; Announcement: click here
[Hong Kong] Circular to Licensed Corporations and Associated Entities - Anti-Money Laundering / Counter-Financing of Terrorism Webinar Materials
SFC Circulars, 8 Dec 2020
The PowerPoint slides of the presentations (in both English and Chinese versions) made by the SFC staff and speakers of the Joint Financial Intelligence Unit at the recent Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) Webinar have been posted on the SFC website.
Full text: click here; Slides: click here & here
[Singapore] Monetary Authority of Singapore and Bank of Ghana to foster closer relationships between SMEs and financial institutions of Singapore and Ghana via Business sans Borders and Financial Trust Corridor
MAS News, 8 Dec 2020
MAS and Bank of Ghana have commenced discussions to adopt the Business sans Borders open hub of platforms between Singapore and Ghana, and to develop a complementary Financial Trust Corridor initiative. These discussions on close cooperation will benefit the small and medium-sized enterprises (SMEs) and micro-SMEs (MSMEs) in both countries by expanding their connectivity with their counterpart economy, while introducing innovative FinTech and digital tools to help each SME seamlessly complete its regular business needs.
Full text: click here
[Singapore and Mainland China] Singapore and China expand financial cooperation to support post-COVID-19 recovery
MAS News, 8 Dec 2020
The MAS announced initiatives to enhance financial cooperation between Singapore and China. These initiatives focus on the area of RMB cooperation, cooperation between Singapore and Chinese Exchanges, digital finance and green finance.
Full text: click here
[Singapore] Guidelines on Environmental Risk Management for Banks
MAS Regulation, 8 Dec 2020
The MAS issued Guidelines to enhance banks’ resilience to and management of environmental risk. These guidelines set out MAS' expectations on environmental risk management for all banks, merchant banks, and finance companies. The guidelines cover:
Full text: click here
[Singapore] Response to Feedback Received on Proposed Guidelines on Environmental Risk Management for Asset Managers
MAS Consultation, 8 Dec 2020
The MAS has published a consultation response to feedback received on MAS’ proposed Guidelines on Environmental Risk Management for Asset Managers which enhance financial institutions’ resilience to and management of environmental risk.
Full text: click here
[Singapore] Guidelines on Environmental Risk Management for Asset Managers
MAS Regulation, 8 Dec 2020
The MAS issued Guidelines to enhance fund management companies’ and real estate investment trust managers’ management of environmental risk. These guidelines set out MAS’ expectations on environmental risk management for all fund management companies and real estate investment trust managers. The guidelines cover:
Full text: click here
[Singapore] MAS awards qualifying full bank licence to China Construction Bank
Business Times, 9 Dec 2020
The Monetary Authority of Singapore (MAS) has awarded a qualifying full bank (QFB) licence to China Construction Bank, under the China-Singapore Free Trade Agreement Upgrade Protocol. China Construction Bank said in a statement that the QFB licence allows for greater operational privileges offering a full suite of banking products that are permitted under the Banking Act.
Full text: click here
[Hong Kong] SFC doubts on communications
The Standard, 10 Dec 2020
The Process Review Panel of the Securities and Futures Commission has published the 2019-20 annual report and conducted a comprehensive review of 54 cases in the year under review. It has questioned the effectiveness of the SFC's communication with the Hong Kong Monetary Authority and the anti-corruption watchdog.
