News Headlines:
[Hong Kong] HKMA announces guideline on
the Green and Sustainable Finance Grant Scheme
HKMA News, 4 May 2021
The HKMA released a guideline on the Green and Sustainable Finance Grant
Scheme (GSF Grant Scheme) as announced in the 2021-22 Budget, setting out the
eligibility criteria and application process of the GSF Grant Scheme. The GSF
Grant Scheme will provide subsidy for eligible bond issuers and loan borrowers
to cover their expenses on bond issuance and external review services. It consists
of two tracks - General Bond Issuance Costs and External Review Costs.
Full text: click here; Guideline: click here
[Singapore] MAS bans Lim
Chew Keat for making false and misleading statements
MAS Enforcement News, 5
May 2021
The MAS has issued a 2-year prohibition
order (PO) against Mr Lim Chew Keat, a former insurance agent of Synergy
Financial Advisers Pte Ltd for making false and misleading statements to his
client. He is prohibited from providing any financial advisory service
effective from 4 May 2021. The PO was issued against Mr Lim following MAS’
investigations into allegations that Mr Lim had made various false and
misleading statements about the features of a regular premium investment-linked
policy to his client. He had misinformed a client by telling her that the
issuer of the ILP would top up an amount equivalent to the first annual premium
of the ILP invested, when in fact the issuer of the ILP would only top up
approximately half of the amount.
Full text: click here
Articles/
Publications:
A Shorter Settlement
Cycle: T+1 Will Benefit Investors and Market Participant Firms by Reducing
Systemic and Operational Risks
SIFMA, 4 May 2021
The Securities Industry and Financial Markets
Association (SIFMA), the Investment Company Institute (ICI), and The Depository
Trust & Clearing Corporation (DTCC) are collaborating on efforts to
accelerate the U.S. securities settlement cycle from T+2 (two business days
after a trade is executed) to T+1 (one business day after a trade is executed).
Working closely with their members and other key stakeholders, the
organizations are outlining key steps to shorten the cycle for secondary market
transactions, identifying priority issues that need to be addressed and
conducting the necessary due diligence and resolution of these critical issues.
Full text: click here
