[Hong Kong] SFC to
introduce investor identification and OTC securities transaction reporting
SFC News, 10 Aug
2021
The SFC issued consultation conclusions on
proposals to introduce investor identification for the securities market in
Hong Kong and require reporting of over-the-counter securities transactions. Under
the investor identification regime, licensed corporations and registered
institutions will submit to The Stock Exchange of Hong Kong Limited (SEHK) the
names and identity document information of clients placing securities orders on
SEHK while information on OTC securities transactions in ordinary shares and
real estate investment trusts listed on SEHK will be reported to the SFC under
a separate regime. The investor identification regime is expected to be
launched in the second half of 2022 and the OTC securities transactions
reporting regime in the first half of 2023, subject to the completion of system
testing and market rehearsals. To implement the regimes, revisions will be made
to the Code of Conduct for Persons Licensed by or Registered with the SFC.
Full text: click here;
Consultation conclusions: click here
[Singapore]
Guidelines on Licensing, Registration and Conduct of Business for Fund
Management Companies [SFA 04-G05]
MAS
Regulation, 11 Aug 2021
The MAS updated
the Guidelines on Licensing, Registration and Conduct of Business for Fund
Management Companies, which set out the eligibility criteria and application
procedures for licensed fund management companies (LFMCs), venture capital fund
managers (VCFMs), and registered fund management companies (RFMCs).
Full text: click here
[Hong Kong] Supporting the Use of New Technologies
for AML/CFT: Suggested Actions for the Hong Kong Banking Sector
HKMA Circular, 11 Aug 2021
The HKMA plans to
take further steps to support AML/CFT innovation and help strengthen Authorized
Institutions’ implementation of the risk-based approach to AML/CFT. The HKMA
will be taking a number of initiatives in the coming months as part of the
broader “Fintech 2025” strategy to advance Authorized Institutions’ positive
and responsible use of new technologies for AML/CFT by (i) sharing experience
and success stories of Authorized Institutions’ and Stored Value Facility licensees,
(ii) launching AML and Financial Crime Regtech Labs for experimenting and
engaging with new technologies and emerging data analytics techniques, (iii) promoting
network analytics capability for tackling online fraud and associated mule
account networks, as well as (iv) creating a conducive environment for
inclusive AML/CFT innovation.
Full text: click here
