Daily News Headlines

  • Daily News Headlines – 3 Aug 2020

    Simplified Arrangements for Sale and Distribution of Eligible Retail Bonds Issued by Government and Related Organisations

    HKMA, 31 Jul 2020

    Registered institutions (“RIs”) can execute customers’ orders of these bonds without triggering the suitability requirement if solicitation or recommendation is not involved. Where there is solicitation or recommendation, RIs may adopt a risk-based approach in performing suitability assessment, having regard to the nature, structure and risks of these bonds.

    Full Text: Click Here

    EBA and ESMA launch consultation to revise joint guidelines for assessing the suitability of members of the management body and key function holders

    ESMA, 31 Jul 2020

    The European Banking Authority (EBA) and the European Supervisory Market Authority (ESMA) launched today a public consultation on their revised joint Guidelines. This review reflects the amendments introduced by the fifth Capital Requirements Directive (CRD V) and the Investment Firms Directive (IFD) in relation to the assessment of the suitability of members of the management body. The consultation runs until 31 October 2020.

    The Guidelines further specify that a gender-balanced composition of the management body is of particular importance. Institutions should respect the principle of equal opportunities for any gender and take measures to improve a more gender-balanced composition of staff in management positions.

    Full Text: Click Here