InHouse By Arion House

Good afternoon, Subscribers! We hope you have had a productive, and above all a healthy week.

This week in APAC headlines, the HKMA released a questionnaire to gauge public opinion on digital assets & stablecoins, with the intention of establishing a regulatory framework to oversee the sector by 2023/24. Meanwhile, Chinese courts have handed a suspended death sentence to a former senior provincial official, for allegedly receiving upwards of USD$70.7m in bribes.

In headlines out of the United States, Gary Gensler issued warnings to retail investors who regularly use commission-free brokerage apps, while the SEC are due to vote next week to propose disclosure of hedge fund data as a means to strengthen industry oversight and investor protection.


In news out of EMEA, the U.K. Treasury have announced an imminent crackdown on "misleading" advertisements for cryptocurrencies, while EU regulators are considering banning a form of bitcoin mining that uses up excessive amounts of energy, to safeguard the continents climate goals.

Lastly, in news out of Australia, the Australian Securities and Investments Commission have issued a clear warning about crypto-scams impacting 'self-managed super funds' (SMSF), as financial crime continues to impact older citizens and their retirement savings.

As always, please feel free to reach out to us for updates on Live Jobs, Movers and Shakers, and Market Intelligence.

Movers and Shakers

Movers and Shakers

BitMEX - Thomas Hill, Legal Counsel, internally promoted. (Hong Kong)

Wellington Management - Cathy Chen, Investment Compliance Officer, from China Life Franklin Asset Management. (Hong Kong)

Binance - Michael Isaacs, Senior Counsel & Head of Litigation for the U.K., from BT. (London)

Consumer Financial Protection Bureau - Seth Frotman, Acting General Counsel & Senior Advisor to the Director, from Student Borrower Protection Center. (Washington D.C.)

Bovill - Kayan Lee-Mckenzie, Compliance Consultant, from the
National Futures Association. (New York)

Aura - Ling-Ling Nie, Deputy General Counsel, Chief Compliance Officer, & Head of Government Affairs, from the Georgia Institute of Technology. (Atlanta)

JANA Investment Advisors - Lindy Hunt, Head of Legal Risk and Compliance, from Club Plus Super. (Sydney)

News of the Week

APAC

Hong Kong’s SFC faces staff shortages, increases budget to compete with financial firms.

Goldman banker goes on trial over Malaysia's 1MDB corruption scandal.

People’s Bank of China continues money laundering crackdown via new rules on customer transactions.

China Could Take Further Measures to Rein in Yuan Former Regulator.

SFC and HKMA Introduce Requirements for Hong Kong Licensed Firms and Banks Dealing with Virtual Assets and Virtual Asset Service Providers.

China’s Overseas Listing Rules Reduce Regulatory Uncertainty.

China’s Regulatory Plans for Technology Companies and the Platform Economy in 2022.

Hong Kong to Roll Out E-Yuan Pilot This Month.

China arrests former deputy banking regulator on bribery charges.