Daily News Headlines

  • News Headlines – 15-19 Jan 2021

    [Mainland China] China bans banks from selling deposit products on third-party internet platforms

    Business Times, 15 Jan 2021

    China's Banking and Regulatory Commission (CBIRC) banned commercial banks from using third-party internet platforms to sell deposit products, including those relating to fixed-term deposits. The move is designed to avoid spillover financial risks brought by the rapid development of the financial technology sector.

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    [Mainland China] Ant Group creates work team to rectify business

    China Daily, 15 Jan 2021

    Ant Group, which was asked to return to its major services and keep a level playing field by PBOC, has organized a work team to rectify its business under the supervision of financial watchdogs. It is ordered to keep doing business, which should not influence the financial service quality it provides to the public, according to the PBOC official.

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    [Hong Kong] HKEX to introduce new stock futures contracts and option classes

    HKEX News, 15 Jan 2021

    Hong Kong Exchanges and Clearing Limited (HKEX) announced the launch of two new stock futures contracts and two new stock option classes on Monday, 25 January 2021. The new futures contracts to be introduced are Wu Xi Biologics (Cayman) Inc and JD Health International Inc, while the new options to be introduced are Wu Xi Biologics (Cayman) Inc and JD Health International Inc.

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    [Hong Kong] New speech by Ashley Alder: Special remarks at the Asian Financial Forum 2021

    SFC News, 18 Jan 2021

    The Chief Executive Officer of SFC Mr Ashley Alder delivered a speech at the Asian Financial Forum. He gave an update on the steps the new cross-agency steering group, coordinated by the SFC and HKMA, has taken in the area of environmental finance and climate change.

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    [Singapore] MAS Enhances Guidelines to Combat Heightened Cyber Risks

    MAS Regulation, 18 Jan 2021

    The MAS issued revised Technology Risk Management Guidelines to keep pace with emerging technologies and shifts in the cyber threat landscape. The Guidelines set out risk management principles and best practices to guide financial institutions to establish sound and robust technology risk governance and oversight, as well as maintain IT and cyber resilience. The recent spate of cyber attacks on supply chains, which targeted multiple IT service providers through the exploitation of widely-used network management software, is a clear indication of a worsening cyber threat environment. The revised Guidelines hence set out enhanced risk mitigation strategies for FIs.

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