China backs away from new e-commerce rules; China clarifies tax position for foreign bond holders; AML probe deepens on Japanese bank; RBA takes aim at bank profits; MAS grants first private securities platform licence
CT’s inaugural Hong Kong conference saw over 200 treasury-related professionals enjoy a day of thought-provoking discussion centred around the future of treasury in an increasingly digital and tech-savvy world
Singapore may have scrapped the idea of a centralised database to facilitate KYC checks for now but an advisory body in Hong Kong says the government might not even need one.
Japan grants cryptocurrency body regulatory powers; blockchain firms in China need to register identities; Trading begins at Shenzhen-based HKEx owned commodities exchange.
Hong Kong’s securities regulatory chief Carlson Tong Ka-shing may be on the way out, but he has signalled that cryptocurrencies have a future in the city even if there’s still a long road ahead for crypto compliance
The regulator says it’s getting serious about regulatory technology with plans to tackle issues ranging from money laundering to machine readable regulations.
A revolution in the way the public pays is being echoed in the corporate world. As the likes of BAML roll out innovation payment solutions for corporates, treasurers are weighing up the benefit.
Treasurers in Hong Kong are eyeing a US rate hike in September, but as uncertainty lingers – and the gap between the rates in HK and the US remains – the HKMA is left to bail out the currency.
Treasurers tell CT what a return to the reserve requirement on forward trading – which puts the brakes on renminbi-US dollar forwards – will mean for their operations.
