Tag Archives: Asia
HKMA turns up the heat and announces consultation on IBOR transition
On 12 February 2019, the Hong Kong Monetary Authority (HKMA) announced in a briefing to the Legislative Council Panel on Financial Affairs that the Treasury Markets Association (TMA) will hold a long-awaited consultation this quarter on alternative reference rates. The … Continue reading
Filed under Hong Kong
HERBERT SMITH FREEHILLS’ 2019 GUIDE TO CORPORATE INVESTIGATIONS IN CHINA
Authors: Kyle Wombolt and Anita Phillips Kyle Wombolt, global head of corporate crime and investigations, and Anita Phillips, professional support consultant, have updated their guide to corporate investigations in China. This forms part of GIR’s acclaimed text, The Practitioner’s Guide to … Continue reading
SFC seeks to halt “rolling bad apples” in their tracks with licensing reforms
On 1 February 2019, the Securities and Futures Commission (SFC) announced significant changes to its licensing forms and processes (Licensing Reforms). Included in these changes was the long-awaited arrival in Hong Kong of measures intended to stop the “rolling” of … Continue reading
SINGAPORE PAYMENTS AND FINTECH UPDATE
In this bulletin we cover the following key developments in the payments and fintech space: Payment Services Bill: On 14 January 2019, the Payment Services Bill (Bill) was passed by the Singapore Parliament. When it comes into force, the Payment … Continue reading
Filed under Asia
SFC publishes findings and guidance on protection of client assets following reviews of brokers’ internal controls and supervision of account executives
Last month, the Securities and Futures Commission (SFC) published a circular, a report and a self-assessment checklist to provide guidance on the standards expected of licensed corporations (LCs) regarding internal controls for the protection of client assets and supervision of … Continue reading
Filed under Hong Kong
Hong Kong Insurance Authority prepares for direct regulation of insurance intermediaries in mid-2019 – what is the progress so far?
It is anticipated that in around mid-2019, the Insurance Authority (IA) will take over the regulation of insurance intermediaries from the three self-regulatory organisations (SROs). In preparation for the commencement of the new regime, the IA has launched several public consultations … Continue reading
The Rise of the Crypto Hedge Fund: Opportunities and Challenges
The extraordinary returns generated by cryptocurrencies have led to a frenzy of investment activity and interest from investors. Several new crypto hedge funds have emerged, and cryptocurrency is fast establishing itself as a mainstream asset class. However, numerous operational and … Continue reading
Increased focus on board and senior management in Hong Kong as HKMA issues enhanced guidance on corporate governance
On 6 October 2017, the Hong Kong Monetary Authority (HKMA) issued a circular to announce the publication of two revised Supervisory Policy Manual (SPM) modules, namely CG-1 “Corporate Governance of Locally Incorporated Authorised Institutions” and IC-1 “Risk Management Framework”. Revisions … Continue reading
Herbert Smith Freehills leads ASIFMA member working group to formulate Best Practices for Effective Development of Fintech
The Asia Securities Industry & Financial Markets Association (ASIFMA) released on Friday afternoon its guide, Best Practices for Effective Development of Fintech. Its press release can be accessed here. The guide was developed by a member working group at ASIFMA led by … Continue reading
Filed under Asia, Non-UK regulation
China’s Draft Data Localisation Measures: what you should watch out for
The Cyberspace Administration of China (CAC) has published its Measures for the Security Assessment for Personal Information and Important Data Exported Abroad (Draft for Comments) (Draft Measures) on 11 April 2017. The Draft Measures, if enacted, will become the first … Continue reading
Filed under Asia, China, Corporate Crime
