The right regulatory framework and local expertise will be essential as new markets develop.
Regulations and fintech are competing to determine trading’s new frontiers.
Regulatory hurdles in Ant Financial and MoneyGram deal may affect fintech development.
Regulators encourage mutual support and cooperation as industry players eye billions in cost savings.
Panellists at OTC Derivatives Summit Asia eye the next phase of regulation.
Securities law won’t be amended until October; firms asked to contact regulators if they cannot meet 1 July deadline.
Five of 8 APAC jurisdictions covered in report have yet to legislate for Pillar 3 disclosure requirements.
Deputy chief executive acknowledges heightened due diligence on account opening has harmed Hong Kong’s reputation.
Other new initiatives cover equity/commodity licensing unification; mutual fund purchases via e-wallet.
Exchanges told to adhere to regulations on securities, futures and forex; tighten AML controls.
Stronger breach reporting requirement includes naming responsible senior executives.
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