Topic: Public consultations

Hong Kong to drop local incorporation requirement for VASP licensees

Following industry pushback, Hong Kong’s government has proposed a compromise on plans to require a “local anchorage” for virtual asset service providers seeking a licence in the territory, as part of an update to its anti-money laundering framework.

24 May 2021

Singapore consults on corporate governance

Singapore’s regulatory authority is consulting on revised corporate governance guidelines for financial institutions, as regulators in Malaysia, Hong Kong and Japan emphasise sustainability and diversity in their own recent corporate governance overhauls.

12 May 2021

APRA consults on remuneration guidance after rigidity complaints

Australia’s prudential regulator is consulting on the country’s remuneration guidance ahead of a prudential standard to be finalised later this year, as Dutch authorities also prepare to overhaul their remuneration rules.

04 May 2021

UK outlines mandatory climate disclosure plans

The United Kingdom has announced its plans for mandatory climate-related disclosures under TCFD guidelines.

25 March 2021

FATF seeks tougher checks on WMD proliferation financing

The Financial Action Task Force has proposed tightening banks’ risk indicators for financing the proliferation of weapons of mass destruction, a week after it announced Pakistan would remain on its “greylist” for persistent terrorist financing issues.

08 March 2021

Introducing the “green asset ratio”: EU banks to face new ESG disclosure requirements

The European Banking Authority has proposed new rules requiring the EU’s largest banks to provide detailed disclosures of how much of their portfolios contribute to climate change.

02 March 2021

FinCEN gives extra time following backlash against crypto “midnight regulation”

US enforcement agency FinCEN has extended the comment period for its proposal to subject cryptocurrency wallet owners to Bank Secrecy Act rules, after receiving an overwhelming number of responses from industry stakeholders requesting more time.

28 January 2021

UK considers "extra-territorial" stablecoin rules

The UK is floating proposals to require overseas stablecoin providers to establish a legal entity in the country to offer their services, which one practitioner warns will be incompatible with some providers’ business models.

20 January 2021

US mulls “midnight regulation” on cryptocurrency wallets

US enforcement agency FinCEN is proposing to subject cryptocurrency wallet owners to Bank Secrecy Act rules, requiring them to gather and store an increased amount of user data from crypto transactions.

21 December 2020

Hong Kong regulator seeks to remedy “deteriorating” merger advice

Hong Kong’s securities watchdog has said it will raise the requirements for individuals advising on mergers and takeovers, after a rise in “unsatisfactory” work in recent years.

14 December 2020

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