The original deadline in April has not given much time for distributors and fund managers to implement changes.
Category: Regulation
SFC slaps banks with huge fines for DD failures
UBS, Morgan Stanley and Standard Chartered, as well as Merrill Lynch, were hit with a total $100m in fines for lapses in due diligence related to Hong Kong stock market listings.
Are you ready for the ‘complex product’ regs?
The difficulty lies in the distribution side collecting information on complex products from asset managers.
MAS explains AM supervisory changes
The regulator now has teams assigned to supervise asset management sub-sectors, such as traditional, alternative or real estate, according to Lim Cheng Khai, executive director at the Monetary Authority of Singapore (MAS).
Will unified QFII/RQFII help onshore funds?
China has proposed combining the two quota schemes, which could help foreign managers with private fund management licences seed their own funds.
MAS to relax cross-border arrangements
Foreign corporations would only have to notify the Monetary Authority of Singapore, instead of seeking approval.
SFC working to widen fund distribution
The Securities and Futures Commission said it is working on diversifying fund distribution channels, which have been dominated by banks.
‘Complex product’ regs could limit HK distribution
Some distributors in Hong Kong may avoid ‘complex products’ because of the added risk of being non-compliant, according to Rolfe Hayden, a partner at law firm Simmons & Simmons.
Regs clash in the Hong Kong-UK MRF
A number of Hong Kong-domiciled funds do not meet requirements of the UK’s Financial Conduct Authority (FCA).
Swiss PBs see risk in trips to China
The detention of a UBS Wealth Management staffer from Singapore has rocked the private banking community and resulted in some bans on travel to the mainland, reports say.
