Clearing & Post-Trade

ASX to Enhance Framework on Client Money Obligations

03/12/2020

ASX will require daily reconciliation of individual client trust account balances, prescribe a standard format for trust reconciliations, and enhance reporting requirements.

Stablecoins

Libra Association to Launch Scaled-down Digital Currency in January

03/12/2020

The launch date depends on regulatory approval from FINMA, expected as early as January. A new name has been adopted for the association and the digital currency.

Trading & Investment

SAFE Keeps With Pledge to Grant Additional QDII Quotas

03/12/2020

SAFE pledged to grant additional quotas quarterly. Since September, $12.72bn worth of QDII quotas have been granted to 71 institutions.

Trading & Investment

OCBC Securities, Lion Global to Launch SGX’s First Tech-focused ETF

03/12/2020

The ETF will launch on SGX on 10 December, tracking the Hang Seng TECH Index, which comprises Hong Kong’s 30 largest listed technology companies.

Trading & Investment

UOB to Set Up Electronic FX Trading Infrastructure in Singapore

03/12/2020

The electronic FX pricing and trading engine will help UOB achieve reduced latency, and aligns with MAS objectives to develop Singapore into a regional FX trading centre.

CBDCs

BIS Innovation Hub Completes Wholesale CBDC Experiment

03/12/2020

BIS Innovation Hub, the Swiss National Bank, and SIX compared the feasibility of issuing a wholesale CBDC versus linking the existing payment system to a distributed ledger.

Capital Adequacy

FSC Korea to Revise Insurance Law for IFRS 17 Adoption in 2023

03/12/2020

The FSC will set up a task force charged with drawing up legislative revisions to reflect changes in IFRS 17 and prepare for implementation in 2023.

Sustainable Finance

BNM to Update Framework for Microinsurance, Microtakaful Products

03/12/2020

The proposals presented in a new exposure draft seek to promote more innovative, sustainable and inclusive insurance and takaful business models.

Structural Regulation

Bill to Block Chinese Listings on US Markets Passes Congress

03/12/2020

Once the President signs the bill into law, Chinese companies would be blocked from listing in the US if they don’t submit to PCAOB audits.