[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
