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Hong Kong FinTech Week 2020 Hong Kong Securities And Futures Commission Keynote : Hong Kong New Virtual Assets Regulatory Framework

Date 03/11/2020

On Day 2 of Hong Kong Fintech Week 2020, the Securities and Futures Commission of HKSAR Government announced that it is going to propose a new regime on licensing for virtual assets this year. The new licensing approach requires all platforms that trade any types of crypto assets, including both operating in Hong Kong and targeting Hong Kong investors, to apply an SFC license. SFC can then ensure compliance, monitor operations, investigate irregularity and enforce rules. The Consultation paper will be published later today.c
Monetary Authority Of Singapore: Discontinuation Of $1,000 Note Issuance To Pre-Empt Money Laundering And Terrorism Financing Risks

Date 03/11/2020

The Monetary Authority of Singapore (MAS) announced today that it plans to discontinue the issuance of the $1,000 note from 1 January 2021. From now until December 2020, a limited quantity of $1,000 notes will be made available each month.
Bursa Malaysia And Shenzhen Stock Exchange Furthers Collaboration On Joint Market Promotion And Information Sharing

Date 03/11/2020

Bursa Malaysia Berhad (“Bursa Malaysia”) together with Shenzhen Stock Exchange (“SZSE”) and Stock Exchange of Thailand, hosted the “ASEAN Capital Market Cooperation Seminar (Manufacturing Session)” on 30 October 2020 with the objective of creating awareness of joint market promotions, information sharing, business development and investment opportunities. Speakers of this virtual seminar comprised leading manufacturing companies and industry experts from the three respective exchanges, targeting Chinese and ASEAN investors and corporations.
New Zealand Financial Markets Authority Appoints KPMG Restructuring Services As Temporary Manager Following Removal Of Fund Managers Otago

Date 03/11/2020

The Financial Markets Authority (FMA) has appointed a temporary manager to manage three schemes previously operated by Fund Managers Otago Limited (FMO).
Statement Of CFTC Commissioner Dan M. Berkovitz Regarding Swap Clearing Requirement Exemptions: Final Rule Amendments

Date 02/11/2020

I am voting for the final rule codifying certain limited exemptions from the swap clearing requirement that currently exist through Commission guidance or staff no action relief. The exemptions are consistent with longstanding Commission policies. Analysis of available historical data shows that the number and notional amount of swaps that would be exempted are relatively limited and not likely to materially impact systemic risk. Furthermore, the swaps exempted from clearing will be subject to uncleared swap margin requirements, if applicable, thereby mitigating the risks of not clearing these swaps.

CFTC Exempts Additional Singapore Recognized Market Operators From SEF Registration Requirements

Date 02/11/2020

The Commodity Futures Trading Commission today announced that it unanimously approved an amended order that exempts eight Recognized Market Operators (RMOs) authorized within Singapore from CFTC swap execution facility (SEF) registration requirements. The exempted RMOs are BGC Partners (Singapore) Ltd., Euronext Markets Singapore Pte Ltd., GFI Group Pte Ltd., ICAP (Singapore) Pte Ltd., Nittan Capital Singapore Pte Ltd., Refinitiv Transaction Services Pte Ltd., TFS Currencies Pte Ltd., and Tullett Prebon (Singapore) Limited.
Statement Of CFTC Chairman Heath P. Tarbert in Support Of Final Amendments To The Part 50 Clearing Requirements

Date 02/11/2020

I am pleased to support today’s final rule amending the CFTC’s Part 50 rules, which implement the swap clearing requirement of section 2(h)(1) of the Commodity Exchange Act (the Clearing Requirement). The final rule concurrently achieves two ends—it demonstrates the CFTC’s evolving philosophy on comity and deference towards our international counterparts while alleviating unnecessary regulatory burdens on small domestic institutions that look nothing like Wall Street banks.
CFTC Expands Its Part 30 Exemptive Program To Improve Global Market Access For U.S. Customers

Date 02/11/2020

The Commodity Futures Trading Commission today issued multiple orders as part of its longstanding Part 30 exemptive program of international cooperation and regulatory deference. Orders have been issued to the Bombay Stock Exchange (BSE), the National Stock Exchange International Financial Service Centre Limited (NSE IFC), the Montreal Exchange (MX), NZX Limited (NZX), and UBS AG (UBS).
Office Of The Comptroller Of The Currency Releases CRA Evaluations For 22 National Banks And Federal Savings Associations

Date 02/11/2020

The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of October 1, 2020 through October 31, 2020. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding, satisfactory, needs to improve, and substantial noncompliance.
Updated: CFTC Approves Amendments To Swap Clearing Requirement Exemptions

Date 02/11/2020

The Commodity Futures Trading Commission at its open meeting today approved final rules exempting swaps entered into by certain financial institutions from the Commission’s swap clearing requirement under the Commodity Exchange Act (CEA).