Sources say Hong Kong’s Mandatory Provident Fund (MPF) system will be permitted to invest in more gold ETFs as part of the Hong Kong government’s plan to build a regional gold trading centre. The MPFA is expected to amend gold ETF investment rules later this week. MPFA-regulated MPF assets were about HKD1.53 tln (USD195bn) at end-March. Currently the MPFA approves gold ETFs on a case-by-case basis; the proposed change would make ETFs that meet prescribed standards automatically eligible, removin

The Russian Defence Ministry said on June 5 that Russian and Ukrainian intelligence services discussed transferring the bodies of Ukrainian soldiers killed in Konstantinovka, and that Kyiv rejected Moscow’s proposal. Moscow had on June 4 offered a humanitarian operation to hand over the remains and requested Ukrainian forces to halt shelling of Konstantinovka on June 6 between 12:00 and 18:00 Moscow time; Kyiv was asked to decide by 12:00 Moscow time on June 5. Ukraine has not responded.

FCA executive director Sheldon Mills said regulators are in an "arms race" to keep pace with AI adoption in financial services and need broader powers, the FT reported. He urged UK regulators to assess whether large language models such as ChatGPT, Claude and Gemini should be brought within regulatory rules. Mills said regulators must themselves adopt AI to match the technology’s "speed, tempo and scale" and to "monitor, detect and respond to risks." A report by Mills warned that heavy personalization can improve product fit but may also produce algorithmic bias, opaque pricing and targeted manipulation. It recommends the FCA conduct a review within three to six months of risks from firms providing financial services outside the regulatory perimeter and potential consumer harm from rising use of AI in personal finance.