Daily News Headlines

  • Daily News Headlines – 4 Aug2020

    TechChallenge – Digitising Trade Finance

    HKMA, 3 Aug 2020

    The HKMA is pleased to work with the BISIH to launch the TechChallenge. We have a shared goal of addressing the pain points in the trade finance business, and this initiative is one of the key steps towards achieving this goal. We envisage that the TechChallenge will encourage international collaboration, spur innovation and produce fruitful results that benefit the trade finance industry globally.

    Full Text: Click Here

    Enhancing Robustness of Enterprise-Wide Risk Assessment on Money Laundering and Terrorism Financing

    MAS, 3 Aug 2020

    MAS conducted thematic inspections on enterprise-wide risk assessment on money laundering and terrorism financing (EWRA) in 2020. This paper highlights inspection observations and MAS’ supervisory expectations of effective EWRA frameworks and processes that financial institutions should benchmark themselves against.

    Full Text: Click Here

    FCA announces proposals to update Dual-regulated firms Remuneration Code

    FCA, 3 Aug 2020

    The FCA has today published a consultation paper with proposals to amend its Dual-regulated firms Remuneration Code and relevant non-Handbook guidance in line with the Capital Requirements Directive V (CRD V).

    Full Text: Click Here

    FCA consults on new rules to improve open-ended property fund structures

    FCA, 3 Aug 2020

    The Financial Conduct Authority (FCA) is consulting on proposals to reduce the potential for harm to investors from the liquidity mismatch in open-ended property funds. The new rules as proposed would require investors to give notice – potentially of up to 180 days - before their investment is redeemed. The FCA welcomes any feedback and is particularly keen to hear suggestions for alternative measures that might achieve the same outcome.

    Full Text: Click Here