The government’s pursuit of a zero Covid policy via strict lockdowns is hitting households and businesses hard, while a slow-burn crisis in the real estate sector is threatening to upend financial system stability. All trends that have big consequences for banks.
Asia-Pacific
SFC to enhance disclosures to boost Hong Kong’s role as a green financial centre
Providing better quality information and enhanced data disclosures are part of the Hong Kong Securities and Futures Commission’s (SFC’s) plans to help investors make better climate change-related decisions.
ASIC extends licensing relief for foreign financial firms operating in Australia
Foreign financial services providers (FFSPs) are to get a further 12 months relief from having to hold an Australian financial services (AFS) licence for providing financial services to Australian wholesale clients.
China banks face soaring NPLs as economic woes intensify
Concerns grow over China’s banking system as Covid lockdown-induced economic slowdowns, bursting property bubbles and fraud plague the country’s lenders.
Hong Kong’s push into carbon markets hobbled by lack of ‘trust’
Hong Kong is the latest entrant into the voluntary carbon market with a remit to channel much-needed overseas funds into mainland China. Its new regulatory regime needs to overcome a crippling lack of trust in offsets despite their vast growth prospects.
Hong Kong takes next steps towards building its carbon market
The next steps to transform Hong Kong into a high-quality voluntary carbon market have been signed off, the Securities and Futures Commission (SFC) said in a statement on March 30.
ASIC spells out legal obligations for social media influencers impacting investor behaviour
Social media influencers and firms involved in securities markets have been reminded by the Australian Securities and Investments Commission (ASIC) about their legal obligations.
SFC consults on regulating collective investment depositories
The Hong Kong Securities and Futures Commission proposes regulating depositories of SFC-authorised collective investment schemes under its RA 13 regime
ASIC turns to regtech to improve corporate disclosures
Five regtech providers have been selected by the Australian Securities and Investments Commission (ASIC) for its Business Research and Innovation Initiative (BRII) and will focus on corporate disclosure.
Hong Kong regulators consult on increasing clearing rules calculation periods
Hong Kong’s regulators are consulting over adding eight new calculation periods under clearing rules for their over-the-counter derivatives regulatory regime.
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