Daily News Headlines

  • News Headlines – 8-9 Sep 2021

    News Headlines

    [Singapore] MAS sets up sustainability group, appoints Chief Sustainability Officer

    MAS News, 7 Sept 2021

    The Monetary Authority of Singapore announced the formation of a new Sustainability Group and the appointment of Dr Darian McBain as Chief Sustainability Officer, with effect from 1 October 2021. The new Sustainability Group will steer sustainability efforts across MAS and help the organisation build deeper capabilities in this multi-faceted area. The new group will coordinate MAS’ green finance and sustainability agenda, namely to:

    (i)                  strengthen the financial sector’s resilience against environmental risks;

    (ii)                 develop a vibrant green finance ecosystem to support Asia’s transition to a low-carbon future;

    (iii)               identify strategic green finance collaborations with regional and international counterparts; and

    (iv)               reduce MAS’ own carbon and environmental footprint.

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    [Hong Kong] Circular to Money Service Operators Anti-Money Laundering / Counter-Terrorist Financing - United Nations Sanctions (ISIL and Al-Qaida) Regulation

    C&ED Circular, 7 Sept 2021

    Hong Kong Customs and Excise Department issued a circular regarding an updated list of “individuals, groups, undertakings and entities” under section 25 of the United Nations Sanctions (ISIL and Al-Qaida) Regulation (Cap. 537CB).

    Full text: click here

    [Mainland China] Progress ongoing in online financial business' management

    China Daily, 7 Sept 2021

    Progress has been made regarding the management of the financial businesses provided by online platforms, as well as wealth management businesses, the China Banking and Insurance Regulatory Commission said. Progress has been achieved regarding improving corporate governance, preventing the disorderly expansion of capital, prudently carrying out internet deposit and lending business in compliance with regulations. Small loans and consumer finance companies are more regulated, and so is the development of internet insurance businesses, the commission said.

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    [Singapore] New disclosure standards for Singapore retail ESG funds due early 2022: MAS

    Business Times, 8 Sept 2021

    The Monetary Authority of Singapore (MAS) will set out early next year its regulatory expectations on the disclosure standards that retail funds in Singapore with an ESG (environmental, social, and governance) investment objective must meet, said its managing director Ravi Menon.

    Full text: click here

    [Hong Kong] Circular to Licensed Corporations and Associated Entities - Anti-Money Laundering / Counter-Financing of Terrorism -(1) United Nations (Anti-Terrorism Measures) Ordinance, (2) United Nations Sanctions (ISIL and Al-Qaida) Regulation

    SFC Circulars, 8 Sept 2021

    SFC informed licensed corporations and associated entities that an updated list specifying terrorists and terrorist associates designated by the United Nations Security Council (“UNSC”) was published under section 4 of the United Nations (Anti-Terrorism Measures) Ordinance (“the UNATMO”) (Cap. 575), an updated list specifying “individuals, groups, undertakings and entities” under section 25 of the United Nations Sanctions (ISIL and Al-Qaida) Regulation (Cap. 537CB) was also published.

    Full text: click here

    [Mainland China] China’s market watchdog launches investigation into Haitong Securities for suspected violation of securities rules

    SCMP, 9 Sept 2021

    Haitong Securities, China’s second largest brokerage by revenue, said that the China Securities and Regulatory Commission is investigating it for suspected violation of securities rules. The company said in a filing to Hong Kong stock exchange that it had received a notice from the CSRC on Tuesday for failing to perform due diligence as the financial adviser to Aurora Optoelectronics. The brokerage said that such a failure could be seen as a breach of securities laws and regulations.

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    Articles/ Publications

    New synopsis by Christina Choi: Fostering Hong Kong’s Development as an Asset Management Hub

    SFC Webinar, 7 Sept 2021

    In a webinar hosted by the Hong Kong Securities and Investment Institute, Ms Christina Choi shared updates on recent initiatives to advance Hong Kong’s position as an asset and wealth management hub and discussed some of the latest investment product and market developments.

    Full text: click here

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