Tag Archives: Regulation

New regulatory trial grounds for FinTech firms in Hong Kong – Regulators announce additional FinTech sandboxes

Last Friday (29 September 2017), Hong Kong financial regulators announced new initiatives aimed at fintech firms, including several new regulatory sandboxes: The Hong Kong Monetary Authority announced plans to launch Fintech Supervisory Sandbox 2.0, an enhanced sandbox that follows on … Continue reading

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Filed under Hong Kong, Regulatory Reform, Sector Updates by Herbert Smith Freehills

Corporate Crime monthly update – September 2017

Welcome to the┬áSeptember 2017 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. For┬áthe full update on each … Continue reading

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Filed under Corporate Crime, Herbert Smith Freehills, Regulatory Reform, Sanctions and Money Laundering

Spotlight on investor protection: The Hong Kong Financial Dispute Resolution Centre implements a more moderate package of reforms

The Financial Dispute Resolution Centre (FDRC) in Hong Kong has issued its conclusions to its consultation on proposals to significantly expand the jurisdiction of the Financial Dispute Resolution Scheme (FDRS), its alternative dispute resolution scheme for conflicts between financial institutions … Continue reading

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Filed under Hong Kong, Regulatory Reform

MAS CLARIFIES STANCE ON DIGITAL TOKENS

On 1 August 2017, the Monetary Authority of Singapore (MAS) clarified through a media release that an offer or issue of digital tokens would be regulated if these tokens constitute products which are regulated under the Securities and Futures Act … Continue reading

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Filed under Asia, Singapore

NEW SANCTIONS REPORTING REQUIREMENTS FOR NON-FINANCIAL SECTOR BUSINESSES

With effect from 8 August, the Government has introduced significant new reporting requirements in relation to EU asset freeze regimes. Previously, only businesses in the financial sector were subject to the obligations, found in UK financial sanctions instruments, to report … Continue reading

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Filed under Corporate Crime, Sanctions and Money Laundering, UK

US to reinstate certain actions against Cuba

On June 16, 2017, President Trump announced a policy framework for the re-imposition of certain US sanctions with respect to Cuba. In particular, the United States' new policy will restore certain restrictions with respect to American investments in the Cuban … Continue reading

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Filed under Sanctions and Money Laundering, US

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

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Filed under Asia, Non-UK regulation

The UK Government announces consultation on sanctions post-Brexit

The two year process of the UK's exit from the EU formally began on 29 March 2017 with notice being given under Article 50 of the Treaty on the European Union of the UK's intention to leave the EU. One … Continue reading

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Filed under Announcements, EU, Sanctions and Money Laundering

SFC focuses on the role of financial advisers and valuers in advising listed companies in corporate transactions

The Securities and Futures Commission (SFC) has issued a circular to financial advisers to provide guidance on its expectations as to their role when advising listed companies on corporate transactions (FA circular). The FA circular reminds financial advisers of their … Continue reading

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Filed under Non-UK regulation, US

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

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Filed under Asia, China, Corporate Crime