Daily News Headlines

  • Daily News Headlines – 20 May 2020

    SFC reprimands and fines Convoy Asset Management Limited $6.4 million for regulatory breaches over bond recommendation

    SFC, 19 May 2020

    The Securities and Futures Commission (SFC) has reprimanded and fined Convoy Asset Management Limited (CAML) $6.4 million for control failures in solicitation and recommendation of bonds to clients.

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    Update on Economic Substance Forms

    Cayman Islands MOFS, 19 May 2020

    As of Friday 15 May, the Department for International Tax Cooperation (DITC) is providing industry with the advance release of the following two Economic Substance (“ES”) Forms: 1) Form for Outsource Service Providers and 2) Form for Entity Tax Resident in Another Jurisdiction

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    SC-STS Welcomes Launch of Central Clearing for SORA Derivatives

    Association of Banking in Singapore, 19 May 2020

    The Steering Committee for SOR Transition to SORA (“SC-STS”) today welcomed the launch of central clearing for over-the-counter (“OTC”) SORA derivatives by LCH. This will deepen liquidity in OTC SORA derivatives, and catalyse the growth and development of the overall SORA market.

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