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.
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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.
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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).
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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.
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