Daily News Headlines

  • News Headlines – 9-10 Sep 2020

    [Hong Kong] Circular to All Intermediaries - Frequently Asked Questions on Corporate Professional Investor Assessment

    SFC Circular, 8 Sep 2020

    The Securities and Futures Commission (SFC) has updated the answer to Question 2 of the FAQs on corporate professional investor assessment to provide further guidance on the assessment of the corporate structure and investment process of Corporate Professional Investors, in particular those investment vehicles owned by family trusts or family offices that engage investment professionals to manage their investments.

    Full text: click here; Appendix: click here

    [Hong Kong] Tentative issuance schedule for HKSAR Government Bonds under the Institutional Bond Issuance Programme

    HKMA Press Releases, 8 Sep 2020

    The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), published today a tentative issuance schedule for Government Bonds offered under the Institutional Bond Issuance Programme for the next six-month period from October 2020 to March 2021. The schedule contains information on, among others, the tentative tenors, tender dates, issue sizes, issue dates and method of issuance of individual Government Bonds issues.

    Full text: click here

    [Singapore] "Act Now to Transition to SORA" - Keynote Speech by Ms Jacqueline Loh, Deputy Managing Director (Markets & Development), Monetary Authority of Singapore

    MAS Speech, 9 Sep 2020

    On 9 September 2020, Ms Jacqueline Loh, Deputy Managing Director (Markets & Development), delivered a keynote speech "Act Now to Transition to SORA" at the Association of Banks in Singapore’s roundtable session on SGD Interest Rate Landscape Changes.

    Full text: click here

    [Singapore] MAS to Step Up 'Supervisory Engagement' to Ensure Banks Meet Sora Transition Timelines

    Business Times, 10 Sep 2020

    THE Monetary Authority of Singapore (MAS) will be stepping up supervisory engagement to ensure that banks in the Republic are well-prepared to transition from Swap Offer Rate (SOR) - a key interest rate benchmark - to the Singapore Overnight Rate Average (Sora) by the end of 2021, said a top official. MAS will expand its inaugural S$500 million Sora floating-rate notes issuance following the "strong market response", through increasing the issuance sizes and lengthening the range of tenors to encourage market participants shift from a SOR-based market to Sora-based market. In addition, guidance on specific deadlines to cease the usage of SOR in new financial products will be outlined by MAS and the steering committee in October this year.

    Full text: click here

    [China] 1st Wholly Foreign-owned Money Brokerage Firm in Mainland Opens

    China Daily, 9 Sep 2020

    China has given the green light to Tokyo-based Ueda Yagi Tanshi to establish the first wholly foreign-owned money brokerage in the mainland amid China's efforts to further open up its financial sector to foreign investors.

    Full text: click here