The ASEAN region has demonstrated itself as a major area for investment and potential growth. However, much of this growth is still on the horizon and yet to be materialised. For the prospects of the ASEAN region to reach their true potential, the current environment requires cost efficiency, scalability and talent. These are critical factors to creating a supportive ecosystem.
Legal & Regulation
The Monetary Authority of Singapore (MAS) has been proactive and transparent with licensing requirements, compared to other jurisdictions. The Digital Acceleration Grant (DAG) programme incentivises firms to modernise operations, equipping smaller managers with the necessary technology and helping new funds get off the ground. This programme, coupled with geopolitical influences, contributes to Singapore accelerating as a safe-haven for money and financial institutions.
With the profound impacts of Covid-19 continuing to reverberate around the world, it is notable how robust the funds industry has been during the last six months. In Ireland, like elsewhere, significant redemptions were registered in March as investors sought to reduce risk and increase liquidity.
The Irish funds industry may have some catching up to do in the private funds space, but as the government gears up to introduce a refreshed Investment Limited Partnerships Act, the jurisdiction is expected to see an influx of managers from the UK, the US and further afield choosing to set up their private funds in Ireland.
JPMorgan is to pay a record USD920.2 million, the largest amount of monetary relief ever imposed by the CFTC, to settle charges against JPMorgan Chase & Company (JPMC & Co.) and its subsidiaries, JPMorgan Chase Bank, and JPMorgan Securities (JPMS) (collectively, JPM), for manipulative and deceptive conduct and spoofing.
The 100th whistleblower award to be made since the SEC Whistleblower Program was created as part of the Dodd Frank Act in 2010 has been announced by the SEC.
Firms are unprepared for Uncleared Margin Rules despite deadline extension, says State Street survey
Eighty one per cent of institutions with a September 2021 (Phase V) or September 2022 (Phase VI) deadline for the Uncleared Margin Rules (UMR) are unprepared to comply with all facets of the new regulations, according to a survey by State Street.
SmartStream Technologies, a financial Reference Data Utility (RDU) solutions provider, is now supporting derivatives in its Systematic Internaliser (SI) Registry service, to help clients meet the Markets in Financial Instruments Directive II (MiFID II) deadline of 15 September, 2020.
Proposed changes to the SEC's Dodd-Frank Act whistleblower reward programme will undermine vital whistleblower protections, and place investors at significant risk of being harmed by increased fraud, according to whistleblower rights law firm of Kohn, Kohn and Colapinto.
Singapore Exchange (SGX) has partnered with Cassini Systems, a provider of pre- and post-trade margin and collateral analytics for derivatives markets, to provide a free service for SGX market participants, to help them prepare to meet the Uncleared Margin Rules (UMR) requirements.