The application of cloud computing by financial firms is excessively complex due to conflicting regulatory requirements across jurisdictions, according to the Asia Securities Industry & Financial Markets Association (ASIFMA), which is calling for the promotion of a consistent and globally aligned framework governing its use.
Asia-Pacific
SFC consults on its conduct expectations for book building and placement activities
The Hong Kong Securities and Futures Commission (SFC) is asking for feedback on its clarifications on the conduct standards it expects from intermediaries in equity and debt capital raisings.
Regulators to give climate finance a bigger push
National supervisors and the International Organization of Securities Commissions (IOSCO) are looking at more coordinated and accelerated efforts to push forward the climate finance agenda, said Ashley Alder, chief executive officer at Hong Kong’s Securities and Futures Commission (SFC).
Hong Kong leverages its capital markets in bid to dominate green finance
Hong Kong, encouraged by mainland China, has ambitions to become Asia’s green financial hub, though the territory still has a way to go to establish its sustainable credentials. By Victor Smart
Singapore taskforce consults on green taxonomy
On January 28, the Green Finance Industry Taskforce (GFIT), convened by the Monetary Authority of Singapore (MAS), issued a consultation on a proposed taxonomy for domestic financial institutions to identify activities that can be considered green or transitioning towards that state.
China gears up for launch of digital currency – with global implications
Residents of Suzhou, an ancient city in the Yangtze Basin, recently pioneered China’s new digital currency – and banks and fintechs are taking note.
SFC wants to tighten requirements for Hong Kong licensed financial professionals
A consultation by the Hong Kong Securities and Futures Commission would see licensed financial professionals needing to have higher minimum academic qualifications and undergo further training.
Trade associations launch Asia-Pacific charter to drive market consistency
A group of industry associations have come together to launch an Asia-Pacific Indications of Interest (IOIs) charter to provide transparency and consistency for market participants.
Singapore looking to allow foreign banks to set up digital-only subsidiaries
The Singapore Monetary Authority (MAS) said it is thinking of allowing foreign banks with a significant local presence to open digital-only banking units.
Ryozo Himino appointed to lead Japan’s FSA
Ryozo Himino took over from Toshihide Endo as commissioner of Japan’s Financial Services Agency (FSA) and will focus on keeping the country’s financial regulatory frameworks in line with global rules.
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