SFC
reprimands and fines Convoy Asset Management Limited $6.4 million for
regulatory breaches over bond recommendation
SFC, 19
May 2020
The Securities and Futures
Commission (SFC) has reprimanded and fined Convoy Asset Management Limited
(CAML) $6.4 million for control failures in solicitation and recommendation of
bonds to clients.
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Update on
Economic Substance Forms
Cayman
Islands MOFS, 19 May 2020
As of Friday 15 May, the Department
for International Tax Cooperation (DITC) is providing industry with the advance
release of the following two Economic Substance (“ES”) Forms: 1) Form for
Outsource Service Providers and 2) Form for Entity Tax Resident in Another
Jurisdiction
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SC-STS
Welcomes Launch of Central Clearing for SORA Derivatives
Association
of Banking in Singapore, 19 May 2020
The Steering Committee for SOR
Transition to SORA (“SC-STS”) today welcomed the launch of central clearing for
over-the-counter (“OTC”) SORA derivatives by LCH. This will deepen liquidity in
OTC SORA derivatives, and catalyse the growth and development of the overall
SORA market.
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