[Hong Kong] Circular to Intermediaries - Hong Kong
Investor Identification Regime (HKIDR) and Over-the-counter Securities
Transactions Reporting Regime (OTCR) Webinar
SFC Circulars, 23 Sept 2021
The SFC issued the consultation conclusions on the
HKIDR and the OTCR (Consultation Conclusions) in August 2021. To facilitate the
implementation of the regimes, the SFC will host two sessions of a webinar on
the HKIDR and the OTCR for the industry on 11 October 2021 and 12 October 2021
respectively. The objectives of the webinar are to introduce the regulatory
framework and key elements of the HKIDR and the OTCR and to provide guidance on
preparations for and implementation of the regimes.
Full text: click here
[Mainland China] China says all crypto-related
transactions are illegal
Business Times, 25 Sept 2021
China's
central bank said all cryptocurrency-related transactions are illegal and must
be banned, sending the strongest signal yet on its determination to crack down
on the industry. All crypto currencies, including Bitcoin and Tether, are not
fiat currency and cannot be circulated on the market, the People's Bank of
China (PBOC) said on its website.
Full
text: click here
[Hong Kong] Regtech Adoption Practice Guide
HKMA Circular, 27 Sept 2021
The HKMA published the third issue of the Regtech Adoption
Practice Guide.
This issue focuses on Regtech solutions in the space
of “Governance, Risk and Compliance” (GRC). An evolving risk and regulatory
landscape, coupled with a growing need to balance costs and effectiveness, is
driving banks to adopt GRC Regtech solutions. This practice guide introduces a
modular approach to building a GRC Regtech platform and outlines some key
implementation components based on observations of what others have
successfully done. These include maturity analysis, GRC vision, project
governance and IT change control, and process change management. Successful
implementation of GRC Regtech solutions require firm-wide support for digital
transformation.
Full text: click here;
Practice Guide: click here
[Hong Kong] Circular to Intermediaries - Seminars on
Implementation of Regulatory Requirements in relation to the Management and
Disclosure of Climate-related Risks by Fund Managers
SFC Circulars, 27 Sept 2021
The SFC will host two seminars on 7 and 12 October
2021 to facilitate licensed corporations to gain a better understanding of how
to implement the regulatory requirements in relation to the Management and
Disclosure of Climate-related Risks by Fund Managers. The seminars will be streamed live via the
SFC official Facebook page on the date of the event. Relevant management or
supervisory personnel and compliance officers of licensed corporations which
are managing collective investment schemes with investment discretions are
encouraged to attend.
Full text: click here
[Singapore]
Compliance Toolkit for Approvals, Notifications and Other Regulatory
Submissions to MAS for Licensed and Exempt Trust Companies and Approved CIS
Trustees
MAS
News, 27 Sept 2021
The
MAS issued a Compliance Toolkit which serve as a useful guide to licensed trust
companies, exempt trust companies (e.g. banks, law firms) and approved CIS
trustees on the various approval and reporting requirements and timelines. It aims
to provide guidance on Applications to be submitted for approval from MAS and Notifications
and regulatory submissions to the MAS.
Full
text: click here
[Singapore]
Notice 762 Obligations of Primary Dealers (MAS-issued Securities)
MAS
Notice, 27 Sept 2021
This
notice applies to all primary dealers appointed under section 145 of the MAS
Act. It sets out the roles and
responsibilities of primary dealers when participating in book-entry MAS
securities auctions and market making.
Full
text: click here
[Singapore]
Notice 648 Issuance of Covered Bonds by Banks Incorporated in Singapore
MAS
Notice, 27 Sept 2021
This
notice applies to all banks incorporated in Singapore. It sets out the
requirements that banks have to comply with when issuing covered bonds. These
include (1) cover pool assets and encumbrance limit, (2) risk management
requirements and (3) notification and other requirements.
Full
text: click here
[Singapore]
Notice SFA 04-N13 Risk Based Capital Adequacy Requirements for Holders of
Capital Markets Services Licences
MAS
Notice, 27 Sept 2021
The
MAS amended the Notice on Risk Based Capital Adequacy Requirements for Holders
of Capital Markets Services Licences as a result of the commencement of the
Significant Infrastructure Government Loan Act 2021 on 3 August 2021.
Full
text: click here
