Hong Kong 

SFC addresses hacking risks associated with Internet trading. The SFC announced that it has issued Guidelines for Reducing and Mitigating Hacking Risks Associated with Internet Trading, requiring all licensed or registered persons engaged in Internet trading to implement 20 baseline requirements to enhance their cybersecurity resilience and to reduce and mitigate hacking risks. (10/27/2017)   

Singapore MAS and China’s Securities Regulator Agree to Strengthen Supervisory Cooperation and Facilitate Market Development. The MAS announced that it and the China Securities Regulatory Commission have agreed to strengthen supervisory cooperation and facilitate the development of their capital markets. (11/3/20107)   

Roadmap for a Leading Global Financial Centre in Asia. The MAS announcedthat it has released the industry transformation map for financial services, which outlines growth strategies by business lines, programs for upgrading skills, and an agenda for continuous innovation and technology adoption. (10/30/2017)   

Macroeconomic Review October 2017. The MAS published the Macroeconomic Review to provide information on the Economic Policy Group’s background analysis and assessment of GDP growth and inflation developments in the Singapore economy and to share the basis for the policy decision articulated in the MAS Monetary Policy Statement. (10/27/2017)   

CP on Liquidity Risk Management Framework for Fund Management Companies. The MAS released a Consultation Paper entitled “Liquidity Risk Management Framework for Fund Management Companies,” which proposes to introduce a liquidity risk management framework for fund management companies with respect to the collective investment schemes that they manage. Written comments on this CP must be submitted by November 27, 2017. (10/27/2017)   

Singapore and Hong Kong bolster fintech ties with cooperation agreement. The MAS announced that it has signed an agreement with the Hong Kong Monetary Authority to strengthen cooperation on fintech between the two and foster fintech development within the region. (10/25/2017)   

Australia   

China and Australia to cooperate on fintech. ASIC announced that it and the China Securities Regulatory Commission have entered into an agreement to promote innovation in financial services in their respective markets. (11/6/2017)   

ASIC updates work on fee transparency for super and managed investment schemes. ASIC announced that it has extended beyond September 30 its facilitative compliance approach to fee and cost disclosure and will work with an external expert to conduct a review of the fees and costs disclosure under RG 97 to ensure that it is best meeting in practice the objective of greater transparency for consumers. (11/1/2017)   

ASIC publishes business plans. ASIC announced that it has published its 2017-18 business plans, broken down by sector. (10/31/2017)   

ASIC expands network of fintech cooperation agreements to Switzerland. ASIC announced that it and the Swiss Financial Markets Authority have entered a new agreement to cooperate on innovation in the financial sector. (10/27/2017)   

ASIC overhauls funds management guidance. ASIC announced that it has released a suite of new and updated guidance for the funds management industry. Comments on the six regulatory guides must be submitted by December 8, 2017. (10/26/2017)