Latham Collaborates With ASIFMA to Highlight Opportunities for Hong Kong and Singapore Capital Markets

ASIFMA report offers proposed solutions to operational challenges arising as a result of the COVID-19 pandemic.

December 07, 2020

The Asia Securities Industry & Financial Markets Association (ASIFMA), the financial industry’s leading regional trade association in Asia, has released a report based on feedback from its members that provides analysis of the operational compliance and regulatory challenges identified during the COVID-19 pandemic in Hong Kong and Singapore. (See infographic.) The report was written as a collaboration among ASIFMA, Latham & Watkins, and PricewaterhouseCoopers Hong Kong, and reflects the views of ASIFMA’s member firms comprising a diverse range of leading financial institutions from both the buy and sell side, including banks, asset managers, and market infrastructure service providers.

The report highlights opportunities to improve the efficiency of several operational factors, including amendments to laws and regulations, the issuance of regulatory guidance by regulatory authorities, changes to existing practices of regulatory authorities, and support from industry bodies. The report also identifies the adoption of tokenised securities as a potential technological solution that merits further review from governmental and regulatory authorities.

A press release issued by ASIFMA explains that these proposals could improve the Hong Kong and Singapore capital markets for the long term, saying: “Development of electronic solutions in Hong Kong and Singapore ultimately enhances the accessibility of Hong Kong and Singapore markets and their reputation as leading international financial centers.”

The full report is available on ASIFMA’s website.

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