Global Perspectives

Read more about some of the key global policy priorities and regulations to watch as we move into 2022.


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The Central Securities Depositories Regulation (CSDR) Settlement Discipline Regime (SDR) will come in to force on 1st February 2022.  It is important that asset owners and managers are prepared for and compliant with the Regulation. Our latest operations guide will help you to navigate the impact of CSDR implementation.

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The New Omnibus Tax Law will come into effect on 2 August 2021 in Indonesia. Listen to Clarita Felicia Kurnia, Head of Tax, Securities Services Operations and Agusno Irawan, Head of Direct Custody and Clearing Client Services in HSBC Indonesia as they provide an overview on the new law and as well as share their custody related tax experiences in the Indonesia market.


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This article seeks to navigate the recent European digital asset consultations and regulations, including the contents of the European Commission’s Digital Finance package published on 24 September 2020. It also examines the position in the United Kingdom and Germany, whilst understanding the complexities behind the innovative product developments in this field.


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Asia is emerging as a leading region in environmental and social issues, where a vast majority of investors and issuers consider these topics as important or very important. Listen to Niccolo Polli, CEO of HSBC Luxembourg and Riccardo Millich, Asia- Europe Sales Lead, HSBC Luxembourg as they discuss the opportunities and implications of ESG investing in Asia.


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Legislating for the clearing and margining of derivatives trades has been a major undertaking for the world’s regulators since the 2008 financial crisis, with many new rules related to this topic having come into force in the intervening years. Henry Raschen, Director, Regulatory Outlook at HSBC’s Securities Services discusses the requirements and implications of UMR with Craig Cowe, Director, Collateral Product Management and Helen Baker, Director, Global Custody Product Management.


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As banks look to expand the number and scope of services which they offer clients, many are increasingly embracing digitalisation. This transformation is evidenced by the industry’s development of digital custody solutions and its wider adoption of innovative technologies such as DLT (distributed ledger technology); smart contracts; AI (artificial intelligence) and APIs (application programming interfaces).


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The European Union’s proposed Digital Operational Resilience Regulation (DORA) focuses on risks stemming from reliance on Information and Communication Technology (ICT), particularly any specific characteristics of digital resilience, with emphasis on concentration risk in ICT. Listen to Henry Raschen, Director, Regulatory Outlook at HSBC’s Securities Services and Claire Harrop, Senior Associate in the Financial Institutions Group at Freshfields, discuss DORA’s content, progress and implications for financial firms now.


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Fuelled by the rapid progress of digitalisation across financial services, regulators are scrutinising some of the technologies reshaping the industry. In the EU, regulators are putting together a comprehensive supervisory framework to oversee crypto-assets, a market that is undergoing exponential growth. Experts at HSBC's Markets and Securities Services Forum – Opportunities in 2021 and Beyond – shared some of their insights into how the EU's digital reform package could impact markets.


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The European Union’s proposed Markets in Cryptoassets Regulation (MiCA) aims to regulate many types of cryptoassets not already within MiFID, harmonising regulatory treatment, mitigating risks, and making the EU an attractive place for cryptoasset business to locate in.


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The transition period for the UK leaving the European Union (“Brexit”) ended on 31 December 2020. In the months before the transition period ended, the UK converted into law any existing EU regulations that had direct effect in the UK at the end of the transition period. During this “onshoring” process the UK in some cases made technical and other amendments to the legislation so that it would work in the UK after Brexit. EU Directives applying before 31 December 2020 already formed part of UK law, so did not need UK onshoring.


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Part 2 of our L (IBOR) series, L (IBOR)- the final lap, explores the latest announcements by regulators and in-depth insights from market participants.


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Financial services firms – irrespective of whether they are banks, brokers, intermediaries, asset managers or asset owners – are seeing some postponements, but no real reduction in the volume, of regulatory change impacting their global businesses into 2021.


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In this webinar, our panel of experts will set out their view of the path ahead on the CSDR settlement discipline regime, explaining the current issues, and setting how they might be addressed.


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When fully implemented, it could be argued that CSDR will have had the biggest impact on the post-trade life cycle. Our guide for asset owners and managers will help you to navigate the impact of CSDR implementation.


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We are pleased to answer some of the vital questions you may have about how HSBC will implement SRD II, and its regulatory impact on our corporate operations, proxy services and disclosure processing.


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We are pleased to answer some of the vital questions you may have about how HSBC will implement SRD II, and its regulatory impact on our corporate operations, proxy services and disclosure processing.


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Europe's Shareholder Rights Directive II ("SRD II") is expected to come into force on 3 September 2020. SRD2 brings with it changes for those issuing, those invested in, and those facilitating investment in European traded shares. Our new guide explains what is happening and describes the key phase 1 and phase 2 implications for market participants.


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A Securities Services - Regulatory & Tax Product article based on our recent live webinar.


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Our specialists from HSBC Securities Services and Global Markets discuss across 3 dimensions of the IBOR replacement challenge: intentions and views from regulators, the impact on the buy side and intermediaries and the impact on the sell side.


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Our specialists from HSBC Securities Services (HSS) outline their views on the current international tax landscape for Asian portfolio investors. We share practical insights for temporary measures in light of Covid-19 to overcome some of these challenges.


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HSBC Securities Services have received a number of questions around the implementation details of CSDR Settlement Discipline from our custody clients. We have compiled the most frequently asked questions, with our current responses. The questionnaire covers trade matching, penalties and mandatory buy-ins, and we expect to update it periodically.


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Listen to our webinar replay where HSBC Securities Services discuss the objectives of SRD2, the practical implications for issuers, intermediaries and asset owners and the key industry challenges being confronted ahead of regulatory compliance.


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Our webinar provides timely global market insights for EMEA portfolio investors in light of the Covid-19 challenges.


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Our 2020 Regulatory Outlook webinar explores some of the key regulatory developments that will shape the financial services industry in 2020 and beyond.


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IIn 2007, the EU introduced the first version of the Shareholder Rights Directive (SRD), a piece of legislation designed to strengthen the rights of shareholders invested in listed European companies.


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A webinar with HSBC Securities Services covering the new EU Central Securities Depositories Regulation (CSDR) settlement discipline regime


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