News
Headlines:
[Singapore] MAS commits $42m to spur adoption of
technology solutions for risk management and regulatory compliance
MAS News, 30 Apr 2021
The MAS announced a new Regulatory Technology (RegTech)
grant scheme and an enhancement of the Digital Acceleration Grant (DAG) scheme
to accelerate technology adoption in the financial sector. MAS will commit $42
million for the RegTech grant scheme and enhanced DAG scheme. The RegTech grant
scheme, which is available to Singapore-based financial institutions (FIs),
aims to promote the adoption and integration of technology solutions in the
risk management and compliance functions of FIs. Funding from the grant scheme
can be used to support either in-house development or commercial partnerships
with RegTech firms based in Singapore.
Full text: click here
[Hong Kong] Circular to Licensed Corporations and
Associated Entities - Anti-Money Laundering / Counter-Financing of Terrorism
United Nations Sanctions (Libya) Regulation 2019
SFC Circular, 30 Apr 2021
The SFC would like to draw the industry’s attention
that an updated list specifying “individuals and entities” under section 43 of
the United Nations Sanctions (Libya) Regulation 2019 (Cap. 537CF) was published
on the website of the Commerce and Economic Development Bureau on 30 April
2021. The SFC expects all new designations to be screened by licensed
corporations and associated entities against their client lists as soon as
practicable whenever there are updates.
Full
text: click here;
Encl: click here & here
[Hong
Kong] Details of the Pilot Insurance‑linked Securities Grant
Scheme announced by the Insurance Authority
IA
News, 3 May 2021
The
Insurance Authority announced details of the two-year Pilot Insurance-linked
Securities Grant Scheme (the Grant Scheme) promulgated in the 2021-22 Budget. The
Grant Scheme provides an incentive for insurance companies and organisations to
issue insurance-linked securities in Hong Kong, while efforts are being made in
parallel to map out a new regulatory scheme for Special Purpose Insurers set up
in this connection. Some relevant information on the eligibility criteria and
sum of grants available is at Annex.
Full
text: click here;
Annex: click here
Articles/Publications:
Making
Retirement Planning and Investing Education Accessible to All Americans
SIFMA,
30 Apr 2021
Lee
Thoresen, Sr. Counsel, Head of Regulatory and Transactional of RBC Wealth
Management, talked about how individuals of all backgrounds and income levels
should get started investing and the industry’s role in making retirement
planning and investing education more accessible to all Americans.
Full
text: click here
Webinar
co-organised by Customs and Excise Department and InvestHK - Money Service
Operators Licensing Regime
C&ED
and InvestHK, 30 Apr 2021
This
webinar provides highlights and an update on latest development of MSOs
licensing, including key licensing requirements, key AML/CFT compliance
obligations, points to note for new/renewal applications, as well as the new
licensing measure – Competence Assessment for MSOs.
Slides:
click here
