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Singapore sets out corporate climate and board diversity disclosure requirements

According to Singapore Exchange (SGX), climate reporting will be made mandatory for listed businesses

Hong Kong Monetary Authority provides update on proposed regulatory framework for payment-related stablecoins and upcoming crypto-asset guidance

The HKMA considers that certain key functions in a typical stablecoin arrangement may not be captured by the proposed enhancements to the AMLO

UK imposes broad new rules and restrictions on promotions in the crypto industry

The government consulted on extending the financial promotions regime to the crypto industry in 2020.

Conditional fee arrangements now permitted in Singapore

CFAs were prohibited in Singapore before the recent amendment.

MiFID II: FCA to review competition concerns in wholesale data markets

The feedback statement does not identify ultimate outcomes which the FCA may take should it decide to address any of the above concerns.

Pension funds: hedging longevity risk

Board meetings are held in Guernsey and a majority of the directors are Guernsey residents in order to ensure that the mind, management and control of the incorporated cell remains at all times in Guernsey.

US regulators must provide more clarity on crypto rules, says BNY Mellon CFO

Portney's comments highlight growing frustration among banking industry executives as U.S. President Joe Biden's regulators have taken a cautious approach to digital assets.

Daily Legal Update

FCA looks to strengthen financial promotion rules for high risk investments

FCA cancels 4 European firms post-Brexit permissions

European firms wishing to remain in the temporary permissions regime (TPR) need to meet the FCA’s standards to continue operating in the UK.

Bermuda amends Insurance Act

The Act which became operative on the 23 December 2021, amends the Insurance Act 1978 to make provision for supervisory requirements relating to the administration of internationally active insurance groups in Bermuda.

Economic Substance for Jersey Funds

The purpose of this note is to provide some information about the impact of the economic substance regime on Jersey’s funds industry.

Financial Services & Banking News

For the guidelines' purpose, transferability covers all the elements that will facilitate the transfer of an entity, a business line or a portfolio of assets, rights or liabilities to an acquirer (public or private company), a bridge institution or a

Financial Regulation: Daily Update

This revised version reflects the changes to the regulatory framework for peer reviews introduced in December 2019

CSSF introduces new reporting requirements

a section on the corroboration of answers given by the supervised entity in scope in the context of the CSSF annual AML/CFT online survey

Individual accountability and the SMCR: a portent of success for the FCA’s new Consumer Duty?

These similarities may predict that, after a period of upheaval and significant cost, the worthy objective of establishing a higher level of consumer protection in retail financial markets and, importantly for firms and customers alike, greater consumer t

Government Regulation