Daily News Headlines

  • News Headlines – 13-17 Nov 2020

    [Hong Kong] SFC statement on US sanctions

    SFC News, 12 Nov 2020

    The Securities and Futures Commission (SFC) is issuing this statement in response to enquiries following the latest announcement by the US government on the imposition of sanctions against additional individuals in Hong Kong and Mainland China.

    Full text: click here

    [Singapore] ABS and SGX RegCo enhance due diligence standards

    ABS News, 12 Nov 2020

    The Association of Banks in Singapore (ABS) announced an enhancement of the ABS Listings Due Diligence Guidelines, which have been revised in close collaboration with Singapore Exchange Regulation (SGX RegCo) to raise standards of due diligence conducted on companies planning to list on Singapore Exchange (SGX). They set out expectations and recommendations on due diligence work that issue managers and full sponsors carry out during the initial public offer (IPO) / reverse takeover (RTO) and listing process.

    Full text: click here; Guidelines: click here

    [China] Financial sector reform to enhance performance

    China Daily, 13 Nov 2020

    China will further open up its financial sector and experiment with financial reform in certain regions to better serve major strategies for regional development, CBIRC officials said. The regulator will further improve the layout of non-bank financial institutions such as consumer finance companies and financial leasing companies, promote free and convenient cross-border capital flows step by step and build a modern financial system with a high level of global competitiveness that matches the Hainan free trade port.

    Full text: click here

    [Singapore] Joint Statement of Intent on Data Connectivity between Bangko Sentral ng Pilipinas and The Monetary Authority of Singapore

    MAS News, 16 Nov 2020

    In recognition of the importance of data connectivity in financial services, Bangko Sentral ng Pilipinas and MAS have agreed on and jointly issue a statement of intent.

    Full text: click here

    [Singapore] Response to Feedback Received on Proposed Requirements on Insurers’ Charging of Expenses to the Participating Fund

    MAS Consultation, 16 Nov 2020

    MAS has published a consultation response to feedback received on MAS' proposals to revise the requirements in the area of expense charging and allocation to the participating fund.

    Full text: click here

    [Hong Kong] New Return of Consolidated Accounts and revised submission deadlines for selected returns

    HKMA Circulars, 16 Nov 2020

    Hong Kong Monetary Authority (HKMA) would like to draw the industry’s attention that HKMA has developed a new Return of Consolidated Accounts (Form MA(BS)1H) and revised the submission deadlines of several existing returns in order to monitor the developments of the banking sector in a more comprehensive manner and strengthen the consolidated supervision of locally incorporated authorized institutions. Consultation on the new Return and the revised submission deadlines with The Hong Kong Association of Banks and The DTC Association has been completed.

    Full text: click here; Annex 1: click here; Annex 2: click here; Annex 3: click here; Annex 4: click here; Annex 5: click here

    [China] China banking regulator vows to cut 'too big to fail' risk in innovation

    Business Times, 16 Nov 2020

    China's top banking regulator pledged to lower the risk of companies becoming "too big to fail" in financial innovation, suggesting the country's biggest technology companies will face increasing scrutiny on their influence in its financial system.

    Full text: click here

    [China] China's Bond Connect program reports robust operations in October

    China Daily, 16 Nov 2020

    The trading volume under China's Bond Connect program in October reached 273.7 billion yuan, according to a monthly report released by the Bond Connect Company Limited.

    Full text: click here