• Daily News Headlines – 4 Jun 2020

    Feedback from recent thematic reviews of Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) control measures for remote customer onboarding initiatives

    HKMA News, 3 Jun 2020

    It is in response to industry feedback through the Balanced and Responsive Supervision initiative of the Hong Kong Monetary Authority (HKMA) for sharing supervisory observations and practical issues, and further to our articulation of the key guiding principles of identity authentication and identity matching in February 2019.

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    ESMA Updates Transparency and Position Limit Opinions for 3rd Country Venus

    ESMA News, 3 Jun 2020

    The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published updated opinions on post-trade transparency and position limits under MiFID II and MiFIR following its assessment of over 200 third-country trading venues (TCTV) against criteria published in opinions in 2017.

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    ESMA Consults on Cloud Outsourcing Guidelines

    ESMA News, 3 Jun 2020

    The guidelines’ purpose is to provide guidance on the outsourcing requirements applicable to financial market participants when they outsource to cloud service providers. In particular, they aim to help firms and competent authorities identify, address and monitor the risks and challenges that arise from cloud outsourcing arrangements.

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    FCA confirms guidance for insurance firms on assessing product value

    FCA News, 3 Jun 2020

    The guidance sets out what the FCA considers firms should be doing to identify any material issues that affect the value of the general insurance and protection products they offer, and their ability to deliver good customer outcomes, during this unprecedented time.

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    FAQs on Offers of Units in Collective Investment Schemes (including REITs)

    MAS News, 3 Jun 2020

    FAQs provides clarification and additional guidance on the regulatory requirements that managers of funds and REITs are expected to comply with under the SFA amid the COVID-19 pandemic.

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    Hyflux, directors under probe over corporate governance breaches

    Straits Times, 3 Jun 2020

    The investigation, which also involves the company's existing and former directors, follows a review of Hyflux-related disclosures and compliance with accounting and auditing standards that was announced in April last year.

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