MAS proposes to extend cross-border business exemption to foreign head offices and branches

On 15 March 2021, the Monetary Authority of Singapore (MAS) issued a consultation paper inviting comments on the proposed exemption framework (Branch Framework) for cross-border business arrangements between financial institutions in Singapore (Singapore FIs) which are head offices or branches (Singapore Offices) and their respective foreign branches or head offices (Foreign Offices). Read more

Operational Resilience: respond, enhance, thrive

Operational resilience is the next phase in the evolution of financial services regulatory policy. Regulators’ expectations are increasing – but it’s an evolution rather than a revolution; firms – more specifically firms’ senior managers – must “join the dots” across a range of practical risk management and governance activities. To help keep you up to date on the upcoming regulatory expectations, we are pleased to announce the launch of our new #OperationalResilience hub. Read more

#OperationalResilience Asia Webinar: How to Manage and Prevent Disruptive Digital Events

In our 24 February webinar, our cross-practice panel of experts from Hong Kong, Singapore and London will discuss operational resilience. This webinar will be of interest to senior management, legal, compliance, risk management, regulatory, data privacy, information security and corporate communications professionals who are responsible for managing, responding to and preventing significant disruptive incidents. Read more

SFC releases FAQs simplifying compliance with electronic data storage requirements – But is it really as simple as it looks?

The Hong Kong Securities and Futures Commission (SFC) has released its long awaited FAQs regarding its 31 October 2019 circular on the use of external electronic data storage providers (EDSP Circular). While there are some aspects of the FAQs which we anticipate will create practical challenges and will require some careful analysis to implement, we generally consider the FAQs to be a significant step forward and to provide much needed flexibility for the industry. Read more

Corporate Crime update – November 2020

Welcome to the November 2020 edition of our corporate crime update – our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Our update now covers a number of jurisdictions. Read more

2020 Global Bank Review: #disruption

We are excited to launch the 2020 edition of our Global Bank Review#disruption. While the banks sector has faced significant challenges before, the depth and breadth of Covid-19’s disruption has left banks in the position of having to brace for impact to their own businesses, whilst simultaneously demonstrating a change in culture, providing support to vulnerable customers, and supplying vital credit for regrowing our economies. Read more