Global Trustee and Fiduciary Services Bite-Sized Issue 8 2026

16 AIFMD CRYPTOASSETS EMIR FINTECH IOSCO MIFID II/MIFIR OPERATIONAL RESILIENCE SUSTAINABLE FINANCE/ESG T+1 ASIA PACIFIC EUROPE NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 8 | 2026 Quick Links The MoU expands the range of investment products eligible under MRF and establishes a simplified framework for dual IPO listings between the two markets. Further details of the MRF scheme are set out in two SFC’s circulars, MRF between Malaysia and Hong Kong and Cross-listings of Malaysian Real Estate Investment Trusts in Hong Kong, and the SC’s Guidelines for the Offering, Marketing and Distribution of Foreign Funds. To facilitate the cross-listings of equity securities, HKEX added Bursa Malaysia Securities Berhad to the list of Recognised Stock Exchanges. In addition, the SFC and the SC co-hosted two industry roundtables on cross-listings of companies and investment products respectively, following the signing of the MoU. Link to MoU here Link to Mutual Recognition of Funds (MRF) between Malaysia and Hong Kong here Link to Cross-listings of Malaysian Real Estate Investment Trusts in Hong Kong here Link to Guidelines for the Offering, Marketing and Distribution of Foreign Funds here Link to speech by Julia Leung here Link to speech by KelvinWong here Link to Round Table Press Release here ASIC Statement of Intent On 16 July 2026, the Australian Securities & Investments Commission (ASIC) published its updated Statement of Intent in response to the Australian Government’s Statement of Expectations. The Statement of Intent outlines how ASIC will achieve its objectives, carry out its responsibilities and exercise its powers. It should be read alongside the Statement of Expectations, as well as the laws that apply to ASIC and those which it administers. The Statement sets out ASIC’s role in accordance with the legislation, the Government’s policy priorities, ASIC’s regulatory approach, stakeholder relationships and how ASIC functions as an organisation. Through its Annual Performance Statement, ASIC will publicly report on the implementation of the Statement of Expectation through the Corporate Plan. Link to the Statements of Expectations and Intent here MAS Proposes Regulatory Changes to Facilitate Faster Approvals of New Fund Types On 9 July 2026, the Monetary Authority of Singapore (MAS) published a consultation paper seeking feedback on proposed amendments to the Code on Collective Investment Schemes (CIS Code). The proposed amendments seek to enable a wider range of new fund product types to be authorised for retail offer through a more streamlined process, while ensuring that appropriate safeguards are in place for retail investors. MAS says that, as investor sophistication grows in Singapore and investor needs continue to evolve, it has received interest from the industry to offer new retail fund product types that cater to a broader range of investment objectives. Such funds may not always fit within existing investment guidelines under the CIS Code. To facilitate fund product innovation and broaden investor choice, MAS proposes amending the CIS Code to: a. Allow the adjustment of existing investment requirements; and b. Accommodate a wider range of innovative fund types. A new Alternative Funds Appendix is proposed to cater to innovative fund types, to clearly differentiate them from traditional funds. Guardrails for these fund types will be put in place to safeguard retail investors’ interests: a. Requirements specific to each type of fund will be put in place to address their unique risks; and