Hong Kong regulator gives in-principle
approval to license crypto exchange firm
Straits Times, 24 Aug 2020
OSL said last November that it had become the first firm to apply
for a digital asset licence from Hong Kong's Securities and Futures Commission
under new rules allowing crypto exchanges to opt into regulation.
No other firm has so far said it has received such approval.
Financial regulators worldwide have been debating whether and how they should
regulate the cryptocurrency, or virtual asset, industry.
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China's unlicensed asset management firms still a threat, says
central bank exec
Business Times, 22 Aug 2020
Fan Yifei, vice governor of the People's Bank of China, told a forum
that a sizeable proportion of the 5,000 third-party wealth management firms in
China do not have the licence to sell insurance or public offerings of funds.
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Asset managers wary about Libor oversight as loans still reliant
on benchmark
Business Times, 21Aug 2020
Asset managers are growing concerned about a US regulator's warning
that it will scrutinise firms' plans and disclosures about the upcoming
transition away from a key lending benchmark that trillions of US dollars of
investments rely on.
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CFTC Orders Toronto-Based Firm to Pay $500,000 for Violating
Capital, Reporting, and Supervision Rules
CFTC, 21 Aug 2020
The Commodity Futures Trading Commission today issued an order
filing and settling charges against OANDA Corporation, a futures commission
merchant (FCM) and retail foreign exchange dealer (RFED) headquartered in
Toronto, Canada, for violating certain capital, reporting, and supervision
rules.
Specifically, OANDA failed to meet minimum net capital requirements,
violated the equity withdrawal restriction in making dividend payments on three
occasions, failed to meet certain reporting requirements, and failed to
diligently supervise matters related to its business as a CFTC registrant.
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