News Headlines – 18-19 Aug 2021

[Hong Kong] SFC issues quarterly report

SFC News, 17 Aug 2021

The SFC published its latest Quarterly Report which summarises key developments from April to June 2021. During the quarter, the SFC conducted 71 in-depth inspections of licensed corporations to review their compliance with regulatory requirements. A total of four corporations and three individuals were disciplined, resulting in total fines of $5 million.

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[Singapore] Notice 637 Risk Based Capital Adequacy Requirements for Banks Incorporated in Singapore

MAS Notices, 17 Aug 2021

This notice applies to all locally-incorporated banks. It sets out: 

• The capital adequacy ratio and leverage ratio requirements for a locally-incorporated bank and the methodology and process for calculating these ratios.
• Requirements for the internal capital adequacy assessment process of a locally-incorporated bank.
• Public disclosure requirements for a locally-incorporated bank in relation to its capital adequacy and risk exposures.

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[Singapore] FAQs on the Securities and Futures (Reporting of Derivatives Contracts) Regulations 2013

MAS Regulation, 18 Aug 2021

The MAS updated its FAQs on the Securities and Futures (Reporting of Derivatives Contracts) Regulations 2013, which provide guidance to the industry on implementation of the reporting obligations for requirements set out under the Securities And Futures (Reporting Of Derivatives Contracts) Regulations for OTC Derivatives.

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