Financial Services Regulatory Update 2019/10/11

  • Australian Securities and Investments Commission Releases Report on Director and Officer Oversight of Non-financial Risk
  • European Banking Authority Consults on its Proposals to Create a Simple, Transparent and Standardized Framework for Synthetic Securitization
  • Financial Conduct Authority of the United Kingdom Confirms New Rules for Certain Open-Ended Funds Investing in Inherently Illiquid Assets
  • Financial Conduct Authority of the United Kingdom Updates its Directions under the Temporary Transitional Power
  • Swiss Financial Market Supervisory Authority Finds HNA Group in Breach of Disclosure Obligations
  • New Zealand Financial Markets Authority Seeks Feedback on Responsible Investment Products
  • Hong Kong Exchanges and Clearing Limited Expands Coverage of Closing Auction Session for its Securities Market
  • Hong Kong Exchanges and Clearing Limited Publishes Announcement not to proceed with the Offer for London Stock Exchange Group PLC
  • Hong Kong Insurance Authority Authorizes First Non-life Virtual Insurer under Fast Track
  • The Stock Exchange of Hong Kong Limited Updates Guidance Materials
  • The Listing Committee of The Stock Exchange of Hong Kong Limited Criticizes Yashili International Holdings Limited for Breaching the Listing Rules
  • Two Automakers Pay US$40 Million to Settle U.S. Securities and Exchange Commission Charges for Misleading Investors
  • Herbalife Nutrition Ltd. Pays US$20 Million to Settle U.S. Securities and Exchange Commission Charges for Misleading Investors
  • U.S. Securities and Exchange Commission Orders Blockchain Company to Pay US$24 Million Penalty for Unregistered Initial Coin Offering of Digital Tokens
  • U.S. Securities and Exchange Commission Adopts New Rule to Allow All Issuers to “Test-the-Waters”
  • U.S. Securities and Exchange Commission Announces to Simplify Volcker Rule
  • Hong Kong Securities and Futures Commission Bans a Former Licensed Representative of Sun Hung Kai Investment Services Limited for 30 Months
  • Hong Kong Securities and Futures Commission Reprimands and Fines SEAVI Advent Ocean Private Equity Limited HK$1 Million
  • Hong Kong Securities and Futures Commission Seeks Disqualification Orders against Former Chairman and Executive Directors of Inno-Tech Holdings Limited
  • Hong Kong Securities and Futures Commission Concludes Consultation on the Enhanced Investor Compensation Regime
  • Hong Kong Securities and Futures Commission Issues Circular on Terms and Conditions for Licensed Corporations which Manage Portfolios that Invest in Virtual Assets
  • Hong Kong Securities and Futures Commission Seeks Compensation and Disqualification orders against Perfect Optronics Limited’s Chairman and Board Members
  • Hong Kong Securities and Futures Commission Proposes to Regulate Trustees and Custodians of Public Funds
  • Hong Kong Securities and Futures Commission Issues Restriction Notices to a Broker to Freeze Client Accounts Related to a Corporate Officer’s Suspected Breach of Duties
  • Hong Kong Securities and Futures Commission Releases Frequently Asked Questions on its Guidelines for Securities Margin Financing Activities
  • Hong Kong Securities and Futures Commission Takeovers and Mergers Panel does not Permit Broadford Global Limited to Deduct Dividend from Offer Price
  • Shenzhen Stock Exchange Revises ETF Implementation Rules to Promote Sound Development of its ETF Market

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Financial Services Regulatory Update 2019/09/27

  • Autorité des Marchés Financiers Launches a Public Consultation on the Conditions for Implementing Squeeze-outs and Fairness Opinions in the Context of Public Offers
  • Australian Securities and Investments Commission Makes Product Intervention Order Banning Short Term Lending Model to Protect Consumers from Predatory Lending
  • Canadian Securities Administrators Proposes Eight Initiatives to Reduce Regulatory Burden for Investment Funds
  • European Union Financial Regulators Highlights the Risks as Potential Sources of Instability
  • Financial Conduct Authority of the United Kingdom Steps up Efforts to Ensure Firms are Getting Ready for a No-Deal Brexit
  • Swiss Financial Market Supervisory Authority Publishes ‘Stable Coin’ Guidelines
  • Insurance Authority of Hong Kong Starts Direct Regulation of Insurance Intermediaries
  • East Asia-Pacific Central Banks Publishes Report “Study on the Implications of Financial Benchmark Reforms”
  • Hong Kong Monetary Authority and Bank for International Settlements Sign Operational Agreement on the BIS Innovation Hub Centre in Hong Kong SAR
  • The Listing Committee of The Stock Exchange of Hong Kong Limited Censures Mr Xiang Liang, Former Executive Director of China Environmental Energy Investment Limited for Breaching the Settlement Agreement and the Committee’s Direction
  • The Stock Exchange of Hong Kong Limited Issues Announcement in Relation to the Matter of Pacific Andes International Holdings Limited Cancellation of Listing
  • SmarTone Mobile Communications Limited is Convicted of Direct Marketing Offense Stemming from a Complaint Received by the Office of the Privacy Commissioner for Personal Data, Hong Kong
  • U.S. Securities and Exchange Commission Charges Prudential Subsidiaries for Misleading Funds Generating Tens of Millions in Tax Benefits for Prudential Financial Inc.
  • Three Raymond James Entities Agrees to Pay US$15 Million to Settle U.S. Securities and Exchange Commission Charge for Improperly Charging Retail Investors
  • U.S. Securities and Exchange Commission Charges PricewaterhouseCoopers LLP With Violating Auditor Independence Rules and Engaging in Improper Professional Conduct
  • U.S. Securities and Exchange Commission Adopts New Rules and Amendments under Title VII of Dodd-Frank Act
  • Stock Exchange of Thailand Signs Memorandum of Understanding with Electricity Generating Authority of Thailand to Foster Wholesale Electricity Market
  • Hong Kong Securities and Futures Commission Bans Ye Feng for Life
  • Hong Kong Securities and Futures Commission Obtains Disqualification Order against Former Executive Director of Life Healthcare Group Limited
  • Hong Kong Securities and Futures Commission Commences Market Misconduct Tribunal Proceedings over Alleged Insider Dealing in Meadville Holdings Limited Shares
  • Hong Kong Securities and Futures Commission’s New Guidelines for Securities Margin Financing Activities Will Take Effect on October 4, 2019
  • Shenzhen Stock Exchange and Budapest Stock Exchange Sign a Memorandum of Understanding on Cooperation
  • Shenzhen Stock Exchange Bond Market Steadily Promotes the Securitization of Intellectual Property Rights
  • World Federation of Exchanges Highlights Competitive Issues to European Securities and Markets Authority Regarding Market Data & Consolidated Tape
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Financial Services Regulatory Update 2019/09/13

  • China Lifts Investment Quota Restrictions for QFII, RQFII Amid Financial Opening-Up
  • Hong Kong Exchanges and Clearing Limited Publishes Statement Regarding Possible Offer for London Stock Exchange Group plc
  • Hong Kong Securities and Futures Commission Reprimands and Fines The Hongkong and Shanghai Banking Corporation Limited HK$2.1 Million for Breaching Telephone Recording Requirements
  • Hong Kong Securities and Futures Commission Bans Jacky Cheung Chiu Hung for Two Years
  • Hong Kong Monetary Authority Reminds the Public to Protect Sensitive Personal Information
  • Singapore Exchange Deepens Cooperation with Chongqing Bureau to Promote Capital Flows and Facilitate Fundraising for Central and Western China Enterprises
  • Monetary Authority of Singapore Invites Applications for New Digital Bank Licenses
  • People’s Bank of China Releases FinTech Development Plan (2019-2021)
  • Abu Dhabi Global Market Publishes Detailed Guidance on Digital Securities
  • China Releases “Implementation Measures for Business of Non-public Issuance of Convertible Corporate Bonds by Non-Listed Companies
  • Crypto Operators Should Prepare for De Nederlandsche Bank Supervision
  • Hong Kong Securities and Futures Commission Issues Circular to Licensed Corporations on Launch of Key Risk Indicator Platform
  • Hong Kong Securities and Futures Commission Issues Circular to Licensed Corporations in relation to the Reporting of OTC Derivatives Transactions to Hong Kong Monetary Authority Trade Repository – Revised Technical Specifications
  • Hong Kong Monetary Authority Issues Circular on Guidelines on Credit Risk Management for Personal Lending Business
  • HKMC Insurance Limited Announces New Relief Measure for 80% Guarantee Product
  • Hong Kong Exchanges and Clearing Limited Launches Indian Rupee Currency Futures
  • Hong Kong Exchanges and Clearing Limited Invests in Data Technology Firm
  • Hong Kong Exchanges and Clearing Limited Signs Memorandum of Understanding with Ping An Insurance Group
  • The Listing Committee of The Stock Exchange of Hong Kong Limited Censures Shandong Molong Petroleum Machinery Company Limited and Censures or Criticizes a Number of Its Former Directors for Breaching the Exchange Listing Rules and/or the Director’s Undertaking; and Censures a Number of Its Former Supervisors for Breaching he Supervisor’s Undertaking
  • Insurance Authority of Hong Kong Publishes Consultation Conclusions on Codes of Conduct for Licensed Insurance Agents and Licensed Insurance Brokers
  • U.S. Securities and Exchange Commission Charges Bitqyck Inc. and its Founders with Defrauding Investors in Unregistered Offering and Operating Unregistered Digital Asset Exchange
  • U.S. Securities and Exchange Commission and Commodity Futures Trading Commission Charge Options Clearing Corporation with Failing to Establish and Maintain Adequate Risk Management Policies
  • European Securities and Markets Authority Strengthens Liquidity Stress Tests for Investment Funds
  • Australian Securities and Investments Commission Research Highlights the Importance of Reforms for Mortgage Brokers and Home Lending
  • Australian Securities and Investments Commission Sues 2 Banks for Use of Unfair Contract Terms
  • Australian Securities and Investments Commission Extends Relief for Foreign Financial Services Providers
  • Shanghai Stock Exchange Reports on Recent Operation of Listed Companies
  • Shanghai Stock Exchange Answers Questions on “SSE Rules for Review of Major Assets Reorganization of Listed Companies on SSE STAR Market (Draft)”
  • First Batch of Commodity Futures ETFs will be Listed on Shenzhen Stock Exchange
  • Shenzhen Stock Exchange and Korea Exchange Sign a Memorandum on Cooperation in Market Regulation and Research
  • Shenzhen Stock Exchange Bond Market Actively Serves the Construction of the Guangdong-Hong Kong-Macao Greater Bay Area
  • Japan Osaka Exchange Imposes Disciplinary Action against Citigroup Global Markets Japan Inc.
  • Royal Bank of Canada and Toronto-Dominion Bank Pays More Than CAD24 Million to Settle Ontario Securities Commission of Canada’s Charges for Foreign Exchange Compliance Failings
  • Malta Financial Services Authority Publishes its Strategic Plan 2019 – 2021
  • Stock Exchange of Thailand Signs Memorandum of Understanding with International Finance Corporation to Drive Thailand Capital Market towards Sustainable Development
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Financial Services Regulatory Update 2019/08/30

  • Stock Exchange of Thailand Welcomes the First Hang Seng Index Derivative Warrants in Thailand
  • Hong Kong Securities and Futures Commission and Independent Commission Against Corruption Sign Memorandum of Understanding to Strengthen Cooperation in Combating Financial Crime
  • Hong Kong Securities and Futures Commission Issues Circular to Licensed Corporations on Managing the Liquidity Risk of Funds
  • Hong Kong Securities and Futures Commission Bans Samuel Lee Kwok Tung for Eight Months
  • High Court Extends Interim Injunctions Freezing Assets of Suspected Manipulators of GEM Stock in A Prosecution Brought by Hong Kong Securities and Futures Commission
  • Hong Kong Monetary Authority Issues Circular on One-year Extension of the Final Implementation Phase of the Margin Requirements for Non-centrally Cleared Derivatives
  • Hong Kong Monetary Authority Updates Requirements for Opening of Accounts Following Amendments to Paragraph 5.1 of the Code of Conduct
  • Hong Kong Monetary Authority Provides Liquidity Facilities Framework for Banks
  • Hong Kong Exchanges and Clearing Limited Consults Market on Proposed Microstructure Enhancements in the Securities Market
  • The Stock Exchange of Hong Kong Limited Issues Announcement in Relation to the Matter of Shenji Group Kunming Machine Tool Company Limited Cancellation of Listing
  • The Stock Exchange of Hong Kong Limited Issues Announcement in Relation to the Matter of Zhejiang Prospect Company Limited Cancellation of Listing
  • Cantor Fitzgerald & Co. and BMO Capital Markets Corporation Settle U.S. Securities and Exchange Commission’s Charges for Improper Handling of American Depositary Receipts
  • U.S. Securities and Exchange Commission Charges ICO Rating with Failing to Disclose it was Paid to Tout Digital Assets
  • U.S. Securities and Exchange Commission Charges RSM US LLP with Violating Auditor Independence Rules
  • Financial Conduct Authority of the United Kingdom Agrees Plan for a Phased Implementation of Strong Customer Authentication
  • Financial Conduct Authority of United Kingdom Requests Claims Management Companies to Raise Advertising Standards
  • Singapore Cryptocurrency and Blockchain Industry Association Launches Four-week Public Consultation on Code of Practice for the Digital Asset Industry
  • China Announces to Build Shenzhen into Socialist Demonstration Area
  • China Unveils New Financial Opening-up Measures
  • China Securities Regulatory Commission Releases the Revised Measures for the Administration of Representative Offices of Foreign Stock and Futures Exchanges in China
  • Australian Securities and Investments Commission Action Leads to Allianz Australia Insurance Limited Refunding over AUD8 Million in Consumer Credit Insurance Premiums and Fees
  • Australian Securities and Investments Commission Updates Guidance on Climate Change Related Disclosure
  • Australian Securities and Investments Commission Proposes Ban on the Sale of Binary Options to Retail Clients and Restrictions on the Sale of Contracts for Differences
  • Shanghai Stock Exchange Answers Questions on Operation of STAR Market in First Month of Trading
  • Shanghai Stock Exchange Reports on Actions against Listed Companies’ Violations in Information Disclosure in H1 2019
  • Shenzhen Stock Exchange Reports Punishments for Violations of Listed Companies in 2019
  • Canadian Securities Administrators Issues Guidance on Climate Changed-related Disclosure
  • Cyprus Securities and Exchange Commission Provides Guidance on Treatment of the Additional Cash Buffer of Investors Compensation Fund
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Financial Services Regulatory Update 2019/08/16

  • Hong Kong Securities and Futures Commission Issues Statement on Backdoor Listings and Shell Activities
  • Hong Kong Securities and Futures Commission Bans Tu Bing for Life
  • Hong Kong Monetary Authority Announces the Implementation Progress and the Future Plans for the Open Application Programming Interface Framework for the Hong Kong Banking Sector
  • Hong Kong Exchanges and Clearing Limited Welcomes Public Consultation by Shanghai Stock Exchange and Shenzhen Stock Exchange on WVR-Related Rules Changes
  • Hong Kong Exchanges and Clearing Limited Rolls out USD London Metal Mini Futures to Expand London Metal Exchange Trading in Asian Time Zone
  • Hong Kong Exchanges and Clearing Limited Introduces Weekly Index Options from September 16, 2019
  • The Stock Exchange of Hong Kong Limited Publishes Conclusions on Proposed Rule Changes Associated with Backdoor Listing and Shell Activities to Strengthen Long-Term Health, Quality and Sustainability of the Market
  • The Stock Exchange of Hong Kong Limited Announces Stock Connect Inclusion Arrangements for A+H Companies Listed on Star Market
  • The GEM Listing Committee of Stock Exchange of Hong Kong Limited Censures Mr Liang Jian Heng, a Former Controlling Shareholder of Wan Cheng Metal Packaging Company Limited, for Breaching the GEM Listing Rules and the Director’s Undertaking
  • The Listing Committee of Stock Exchange of Hong Kong Limited Censures a Number of the Current Directors of Amax International Holdings Limited for Breaching the Listing Rules and the Director’s Undertaking
  • Stock Exchange of Hong Kong Limited Publishes Consultation Paper on Codification of General Waivers and Principles Relating to IPOs and Listed Issuers and Minor Rule Amendments
  • Former Real Estate Investment Trusts Manager and Executives Settle U.S. Securities and Exchange Commission Charges for More Than US$60 Million
  • U.S. Securities and Exchange Commission Proposes to Modernize Disclosures of Business, Legal Proceedings, and Risk Factors Under Regulation S-K
  • Financial Conduct Authority of the United Kingdom Launches Consultation Guiding Firms on the Fair Treatment of Vulnerable Customers
  • Financial Conduct Authority of United Kingdom Fines Standard Life Assurance Limited £30 Million for Non-Advised Pension Sales Failures
  • Financial Conduct Authority of United Kingdom Announces Extension to its Use of the Temporary Transitional Power
  • Financial Conduct Authority of the United Kingdom Provides Clarity on Current Cryptoassets Regulation
  • European Securities and Markets Authority Consults on Performance Fee Guidelines for Retail Funds
  • European Securities and Markets Authority Readies Stress Testing Requirements for Money Market Funds
  • Singapore and Kenya Establish Cooperation on Developing Digital Infrastructure
  • Monetary Authority of Singapore Issues New Rules to Strengthen Cyber Resilience of Financial Industry
  • Monetary Authority of Singapore Launches Sandbox Express for Faster Market Testing of Innovative Financial Services
  • People’s Bank of China Official Interprets Measures for Further Opening Up of the Financial Sector
  • Shenzhen Stock Exchange and Shanghai Stock Exchange Publish 2019 Q2 Report on Stock pledged Repo Risk Analysis
  • Australian Securities and Investments Commission Consults on New Guidance for Companies on Whistleblower Policies
  • Australian Securities and Investments Commission Sues Australia and New Zealand Banking Group Limited for Misrepresentations and Unconscionable Conduct over Account Fees
  • Financial Action Task Force Updates its Risk-based Approach Guidance
  • Vietnam Launches Government Bond Futures at the Hanoi Stock Exchange
  • Swiss Financial Market Supervisory Authority Reviews Effectiveness of the “Direct transmission” Circular
  • Abu Dhabi Global Market Welcomes Digital Bank Applications to its International Financial Center
  • Abu Dhabi Global Market Releases Regulatory and Governance Regime for Robo-Advisors
  • Abu Dhabi Global Market Deepens Financial Collaborations and Economic Ties with Key Institutions in China
  • Dubai Gold & Commodities Exchange Signs Memorandum of Understanding with Multi Derivatives Exchange Nepal
  • Insurance Authority of Hong Kong Publishes Consultation Conclusions of the Guidelines on “Fit and Proper” Criteria and Continuing Professional Development Requirements for Licensed Insurance Intermediaries
  • The Stock Exchange of Hong Kong Limited Issues Announcement in Relation to the Matter of China Nonferrous Metals Company Limited Cancellation of Listing
  • Hong Kong Securities and Futures Commission Reprimands and Fines Sincere Securities Limited HK$5 Million for Internal Control Failings
  • Shanghai Stock Exchange Terminates STAR Market IPO Review of Relevant Companies by Law
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Financial Services Regulatory Update 2019/07/26

  • Australian Securities and Investments Commission Proposes to Ban Unsolicited Telephone Sales of Life Insurance and Consumer Credit Insurance
  • Cyprus Securities and Exchange Commission Signs a Memorandum of Understanding with Institute of Certified Public Accountants of Cyprus
  • European Securities and Markets Authority Consults on Disclosure Guidelines under the Prospectus Regulation
  • U.S. Commodity Futures Trading Commission Issues Order Finding that Korea Exchange, Inc. Made a False and Misleading Certification
  • Hong Kong Securities and Futures Commission Bans Song Peng for 10 Months
  • Hong Kong Securities and Futures Commission Suspends Hui Kwok Piu for Illegal Short Selling
  • Hong Kong Securities and Futures Commission Reprimands and Fines Lee’s Securities Company Limited HK$520,000 for Internal Control Failings
  • Hong Kong Securities and Futures Commission Reprimands and Fines Glory Sun Securities Limited HK$1.2 Million and Suspends its Current and Former Responsible Officers
  • Hong Kong Court Sets Pre-trial Review for Unlicensed Activities Prosecution Brought by the Hong Kong Securities and Futures Commission
  • Hong Kong Monetary Authority Issues Circular on Leverage Ratio Treatment of Client Cleared Derivatives and Revisions to Leverage Ratio Disclosure Requirements
  • Hong Kong Monetary Authority Releases Report on the Money Laundering and Terrorist Financing Risk Assessment for the Stored Value Facility Sector
  • The Listing Committee of GEM of the Stock Exchange of Hong Kong Limited Censures or Criticizes China Regenerative Medicine International Limited and Twelve of its Current and Former Directors for Breaching the GEM Listing Rules and the Director’s Undertaking
  • Highlights of the Speech by Hong Kong Privacy Commissioner at the 2019 Asia Privacy Forum in Singapore on Compliance with Regulatory Requirements, Accountability and Data Ethics
  • Insurance Authority of Hong Kong Signs Memorandum of Understanding on Delegation of Powers to the Monetary Authority
  • U.S. Securities and Exchange Commission Charges Accountant and Friend in US$6.2 Million Insider Trading Scheme
  • U.S. Commodity Futures Trading Commission and Securities and Exchange Commission Invite Public Comment on a Joint Proposal to Align Margin Requirements for Security Futures with Requirements for Similar Financial Products
  • U.S. Securities and Exchange Commission Staff Publishes Statement Highlighting Risks for Market Participants to Consider as They Transition Away from London Inter-Bank Offered Rate
  • U.S. Securities and Exchange Commission and North American Securities Administrators Association Explain Application of Securities Laws to Opportunity Zone Investments
  • Nomura Securities International Inc. Pays Misled Bond Customers US$25 Million to Settle U.S. Securities and Exchange Commission Charges
  • U.S. Commodity Futures Trading Commission and the Japan Financial Services Agency Issue a Joint Statement Regarding the Comparability of Certain Derivatives Trading Venues in the U.S. and Japan
  • Financial Conduct Authority of the United Kingdom Announces HSBC to Extend Redress Scheme for Customers Impacted by Historical Debt Collection Practices
  • European Securities and Markets Authority Warns Contracts for Differences Providers on Application of Product Intervention Measures
  • European Securities and Markets Authority Publishes Report on the Licensing of Fintech Firms across Europe
  • European Securities and Markets Authority Launches Consultation on Cost of Market Data and Consolidated Tape
  • Singapore Exchange Regulation Requires Exit Offers to be Fair and Reasonable and Shareholder Vote to Exclude Offeror and Concert Parties
  • Singapore Exchange Regulation Consults on Proposed Enhancements to Securities Trading Auction Mechanism
  • China Seeks Public Comments on the Optimization of the Business Environment Regulations (Draft for Comment)
  • Shanghai Stock Exchange Replies to Inquiries on 2018 Annual Reports of Corporate Bond Issuers
  • Shanghai Stock Exchange Implements Opinions on Judicial Guarantee for Launching the Sci-Tech Innovation Board and Piloting the Registration-Based IPO System
  • Shanghai Stock Exchange Releases “Memorandums on Information Disclosure of Companies Listed on Sci-Tech Innovation Board” and Supporting Guidelines for Announcement Formats
  • Shenzhen Securities Information Co., Ltd Joins the Index Industry Association
  • Export-Import Bank of China’s Financial Bonds Debut on Shenzhen Stock Exchange
  • Australian Securities and Investments Commission Consults on Proposal to Intervene to Stop Consumer Harm in Short Term Credit
  • Australian Securities and Investments Commission Finds Unacceptable Sales Practices, Poor Product Design and Significant Remediation Costs in Consumer Credit Insurance Sold by Major Banks and Lenders
  • Caldwell Investment Management Ltd. Pays CAD1.8 Million to Settle Ontario Securities Commission of Canada’s Charges for Violating Trade Execution Rules
  • Financial Services and Markets Authority of Belgium Authorizes European Money Markets Institute as Administrator of the EURIBOR Benchmark
  • Abu Dhabi Global Market Partners with Ajman Department of Land and Real Estate Regulation to Enhance Economic Integration between Abu Dhabi and Ajman
  • Thailand Securities and Exchange Commission Seeks Public Comments on Proposed Amendments to Term Fund Rules
  • Hong Kong Securities and Futures Commission Takeovers and Mergers Panel Rules against Waiver of General Offer Obligation in Proposed Maanshan Iron & Steel Company Limited Acquisition
  • Hong Kong Securities and Futures Commission and Independent Commission Against Corruption Operation Leads to Charging of Ex-Convoy Global Holdings Limited Executive Directors and Broker’s General Manager
  • China Banking and Insurance Regulatory Commission Continues Preferential Treatment to Hong Kong Reinsurance Industry
  • Facebook Inc. Settle with U.S. Securities and Exchange Commission and Federal Trade Commission
  • China Implements Measures for Further Opening Up the Financial Sector
  • The First Batch of 25 Companies Debuts on Shanghai Stock Exchange STAR Market
  • Shanghai Stock Exchange Replies to Inquiries on Trading Mechanism of STAR Market in the Initial Stage of Opening
  • Shanghai Stock Exchange STAR Market 50 Component Index Will Be Released
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Financial Services Regulatory Update 2019/07/12

  • Australian Securities and Investments Commission Commences New Regime for Corporate Whistleblower Protections
  • Hong Kong Securities and Futures Commission Publishes Statement on the Conduct and Duties of Directors when Considering Corporate Acquisitions or Disposals
  • Hong Kong Securities and Futures Commission Issues Circular to Intermediaries on Amendments to Paragraph 5.1 of the Code of Conduct
  • Hong Kong Securities and Futures Commission Issues Circular to Intermediaries on Remote Onboarding of Overseas Individual Clients
  • Hong Kong Securities and Futures Commission Bans Goldman Sachs (Asia) L.L.C. Former Responsible Officer Tim Leissner for Life
  • The Ministry of Finance of the People’s Republic of China, the China Securities Regulatory Commission and Hong Kong Securities and Futures Commission Sign Tri-partite Memorandum of Understanding on Audit Working Papers
  • Hong Kong Securities and Futures Commission Reprimands and Fines Celestial Commodities Limited and Celestial Securities Limited HK$6.3 million for Mishandling Client Money
  • Hong Kong Securities and Futures Commission Issues Circular to Intermediaries on New Measure to Protect Client Assets
  • Hong Kong Securities and Futures Commission Publicly Criticizes CM Asset Management (Hongkong) Company Limited for Breaches of Takeovers Code
  • Hong Kong Monetary Authority and Hong Kong Securities and Futures Commission Issue Joint Consultation Conclusions on Annual Update to the List of Financial Services Providers under the Clearing Obligation for OTC Derivative Transactions
  • Hong Kong Monetary Authority Welcomes Setting up of a Bank for International Settlements Innovation Hub Center in Hong Kong
  • Hong Kong Monetary Authority and Autorité de Contrôle Prudentiel et de Résolution Enhance Fintech Collaboration
  • Hong Kong Monetary Authority Issues Frequent Asked Questions on Reporting Treatment of Transactions Related to Initial Public Offerings
  • Hong Kong Exchanges and Clearing Limited Completes Acquisition of Ronghui Tongjin Majority Stake
  • Hong Kong Exchanges and Clearing Limited Expands Closing Auction Session to All Equities and Funds
  • Hong Kong Exchanges and Clearing Limited Launches USD London Metal Mini Futures in August
  • The Stock Exchange of Hong Kong Limited Issues Announcement in Relation to the Matter of Flyke International Holdings Limited (and Together with its Subsidiaries) Proceeding to Third Stage of Delisting Procedures
  • The Stock Exchange of Hong Kong Limited Issues Announcement in Relation to the Matter of Rui Feng Group Holdings Company Limited Cancellation of Listing
  • The Stock Exchange of Hong Kong Limited Announces New Review Structure for Listing Committee Decisions
  • Insurance Authority of Hong Kong Publishes Consultation Conclusions on the Guideline on Pecuniary Penalty for Licensed Insurance Intermediaries
  • Hong Kong Competition Commission Takes Renovation Cartel Case to Competition Tribunal
  • U.S. State Street Bank Settles U.S. Securities and Exchange Commission Charges for Adding Undisclosed Markups on Client Expenses
  • U.S. Commodity Futures Trading Commission Orders Merrill Lynch Commodities, Inc. to Pay Approximately US$25 Million for Spoofing, Manipulation, and Attempted Manipulation in Precious Metals Futures
  • Financial Conduct Authority of the United Kingdom, U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission Issue Joint Statement on Opportunistic Strategies in the Credit Derivatives Markets
  • Financial Conduct Authority of the United Kingdom Confirms Recognition of the Foreign Exchange Global and United Kingdom Money Markets Codes
  • Financial Conduct Authority of the United Kingdom Launches Review of the Credit Information Market
  • Financial Conduct Authority of the United Kingdom Proposes Ban on Sale of Crypto-Derivatives to Retail Consumers
  • Financial Conduct Authority of United Kingdom Confirms Permanent Restrictions on the Sale of Contracts for Difference and Contracts for Difference-like Options to Retail Consumers
  • European Securities and Markets Authority Issues Opinions on Product Intervention Measures by Germany, Spain, Bulgaria, Denmark, Latvia and Greece and Ceases Renewal the temporary prohibition of Product Intervention Measure
  • European Securities and Markets Authority Consults on Short-Termism in Financial Markets
  • European Commission Publishes Guidelines to Improve How Firms Report Climate-related Information and Welcomes Reports on Climate Finance
  • Monetary Authority of Singapore Will Issue up to Five Digital Bank Licenses
  • Singapore Exchange Launches Asia’s First Portfolio Compression Service for Listed Derivatives
  • Shanghai Stock Exchange Launches On-site Supervision of Sponsoring Business for Sci-Tech Innovation Board
  • Shanghai Stock Exchange and Japan Exchange Group Launch China-Japanese ETF Connectivity
  • Shenzhen Stock Exchange Improves Capital Market Service Functions and Facilitates the Innovative Development of Small and Medium-sized Enterprises
  • Shenzhen Stock Exchange Completes the Review of the 2018 Annual Reports on Fixed Income Products
  • Shenzhen Stock Exchange Completes the Appraisal of Information Disclosure of Listed Companies
  • Shenzhen Stock Exchange and the Belarusian Currency and Stock Exchange Sign a Memorandum of Understanding
  • Shenzhen Stock Exchange Continues to Rigorously Implement the Mandatory Delisting Mechanism for Major Violation of Law
  • Australian Securities and Investments Commission Consults on Proposed Market Integrity Rules for Technological and Operational Resilience
  • Australian Securities and Investments Commission Consults on New Product Intervention Power Use
  • Australian Securities and Investments Commission Approves an Updated Banking Code of Practice
  • Australian Securities and Investments Commission Consults on Relief for Foreign Providers of Funds Management Services to Australian Professional Investors
  • Australian Securities and Investments Commission Provides New Guidance for Certain Australian Financial Services License Applications
  • Australian Securities and Investments Commission Restricts iBosses Corporation Limited from Using Disclosure Exemptions for Failing to Lodge Financial Reports
  • Financial Action Task Force Issues Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers
  • International Organization of Securities Commissions Urges Authorities to Use Existing Standards to Address Cyber Risk
  • International Organization of Securities Commissions Examines Liquidity in Corporate Bond Markets under Stressed Conditions
  • Shanghai Stock Exchange Announces Listing Arrangements for the First Batch of Companies on the Sci-Tech Innovation Board Market
  • China Issues Notice on the Relevant Requirements for the Application for Recordation and Registration of Foreign Debt Issuance by Local State-owned Enterprises
  • China Releases 2019 Industry Catalog Encouraging Foreign Investment
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Financial Services Regulatory Update 2019/06/28

  • Australian Securities and Investments Commission Approves Australian Financial Complaints Authority Rules Change for Legacy Complaints
  • Cayman Islands Monetary Authority Introduces Anti-Money Laundering and Countering the Financing of Terrorism Reporting Requirement
  • Hong Kong Securities and Futures Commission and Independent Commission Against Corruption Search Sponsor Firms
  • Hong Kong Securities and Futures Commission Publishes Annual Report 2018-19
  • Hong Kong Securities and Futures Commission Issues Circular to Licensed Corporations on Foreign Exchange Margin Trading on the Mainland and Other Unregulated Activities
  • Hong Kong Securities and Futures Commission and China Securities Regulatory Commission Reach an Agreement on a Cooperative Framework to Facilitate Coordinated Investigations
  • Hong Kong Market Misconduct Tribunal Fines Health and Happiness (H&H) International Holdings Ltd and its Chairman HK$3.2 Million in Total for Late Disclosure of Inside Information Following Proceedings Brought by Hong Kong Securities and Futures Commission
  • Hong Kong Securities and Futures Commission Reprimands and Fines Credit Suisse (Hong Kong) Limited and Credit Suisse AG HK$2.8 million for Regulatory Breaches
  • Hong Kong Securities and Futures Commission Issues Restriction Notices to 9 Brokers to Freeze Client Accounts Linked to Suspected Market Manipulation of China Ding Yi Feng Shares
  • Hong Kong Securities and Futures Commission Issues Restriction Notices to 14 Brokers to Freeze Client Accounts Linked to Suspected Market Manipulation of Smartac Group China Holdings Limited
  • Hong Kong Securities and Futures Appeals Tribunal Affirms Hong Kong Securities and Futures Commission Decision to Reprimand and Fine FT Securities Limited HK$3.5 Million
  • Highlights of Speeches by Ms. Julia Leung, Deputy Chief Executive Officer and Executive Director, Intermediaries of Hong Kong Securities & Futures Commission at Compliance Forum 2019
  • Highlights of the Speech by Ms. Julia Leung, Deputy Chief Executive Officer and Executive Director, Intermediaries of Hong Kong Securities & Futures Commission at 2019 Risk Hong Kong Conference
  • Hong Kong Privacy Commissioner for Personal Data Requests Operators of Related Online Social Media Platforms and Discussion Forums to Discharge Their Legal and Corporate Ethical Responsibilities
  • Australian Securities and Investments Commission Calls on Listed Entities to Focus on Major Financial Reporting Changes and Other Focuses
  • Australian Securities and Investments Commission Issues Guidance to Financial Service Licensees to Protect against Share Sale Fraud
  • Australian Securities and Investments Commission Releases Reports on Decisions to Cut Red Tape
  • Competition Commission of Switzerland Fines 5 Banks CHF 90 Million for Participating in Foreign Exchange Spot Trading Cartel
  • China Securities Regulatory Commission and Financial Conduct Authority of the United Kingdom Release the Joint Announcement on Shanghai-London Stock Connect
  • Cyprus Securities and Exchange Commission Adopts European Securities and Markets Authority’s Guidelines on Central Counterparties Conflict of Interest Management
  • European Securities and Markets Authority Issues Additional Positive Opinions on National Product Intervention Measures Relating to Binary Options
  • Financial Conduct Authority of the United Kingdom Publishes Final Report in Relation to Royal Bank of Scotland’s Global Restructuring Group
  • Financial Conduct Authority of the United Kingdom Publishes its First Annual Report on the Perimeter
  • Financial Conduct Authority of the United Kingdom Fines Bank of Scotland for Failing to Report Suspicions of Fraud
  • Hong Kong Exchanges and Clearing Limited Welcomes its First Listing of Active ETF
  • Hong Kong Exchanges and Clearing Limited Publishes Cash Market Transaction Survey 2018
  • Hong Kong Exchanges and Clearing Limited Announces the Launch of Inline Warrants
  • Hong Kong Monetary Authority Issues Circular on Feedback from Thematic Review of Authorized Institutions’ Application of AML/CFT Controls in the Small and Medium-sized Enterprises Segment
  • Hong Kong Monetary Authority Issues Guidance on Currency Conversion Arrangement under Stock Connect
  • Hong Kong Monetary Authority Announces the Publication of the Global Financial Innovation Network’s “One Year On” Report
  • Hong Kong Monetary Authority Issues Circular on Observations of Mystery Shopping Program in respect of Account Opening by Authorized Institutions in Hong Kong
  • The Stock Exchange of Hong Kong Limited Issues Announcement in Relation to the Matter of Heng Xin China Holdings Limited Cancellation of Listing
  • The Stock Exchange of Hong Kong Limited Issues Announcement in Relation to the Matter of Midas Holdings Limited Proceeding to Third Stage of Delisting Procedures
  • The Stock Exchange of Hong Kong Limited Issues Announcement in Relation to the Matter of Centron Telecom International Holding Limited (and Together with its Subsidiaries) Proceeding to Third Stage of Delisting Procedures
  • The Stock Exchange of Hong Kong Limited Issues Announcement in Relation to the Matter of Ding He Mining Holdings Limited Proceeding to Third Stage of Delisting Procedures
  • International Association of Insurance Supervisors Embarks on New Strategic Direction
  • China Merchants Bank’s Euro-denominated Bond Launches on Luxembourg Stock Exchange
  • Singapore and United Kingdom Enhance Cooperation in Data Connectivity, Talent Development, Green Finance and Cybersecurity
  • Beauty Product Company is Convicted of Direct Marketing Offense Stemming from a Complaint Received by the Office of the Privacy Commissioner for Personal Data, Hong Kong
  • KPMG LLP Pays US$50 Million Penalty to Settle U.S. Securities and Exchange Commission’s Charges for Illicit Use of Public Company Accounting Oversight Board Data and Cheating on Training Exams
  • Industrial and Commercial Bank of China Affiliate Pays More Than US$42 Million to Settle U.S. Securities and Exchange Commission’s Charges for Improper Handling of American Depositary Receipts
  • Wedbush Securities Inc. Pays More Than US$8.1 Million to Settle U.S. Securities and Exchange Commission’s Charges for Improper Handling of American Depositary Receipts
  • U.S. Securities and Exchange Commission Adopts Amendments to Improve the Application of the Auditor Independence Rules to Loan Provision
  • U.S. Securities and Exchange Commission, North American Securities Administrators Association and Financial Industry Regulatory Authority Issue Senior Safe Act Fact Sheet to Help Promote Greater Reporting of Suspected Senior Financial Exploitation
  • U.S. Securities and Exchange Commission Charges Walmart with Foreign Corrupt Practices Act Violations
  • Opening Ceremony of Shanghai International Center for Communication and Cooperation between Exchanges Holds
  • Shanghai Stock Exchange Sci-Tech Innovation Board Market Debuts
  • Shenzhen Stock Exchange Spokesperson Answers Reporters’ Questions on Auditing of Listed Companies’ 2018 Annual Reports
  • The 2019 Roadshow of Scientific and Technological Achievements of the Chinese Academy of Sciences Holds in Shenzhen Stock Exchange
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Financial Services Regulatory Update 2019/06/14

  • Hong Kong Court of Appeal Dismisses Application of Andrew Left for Leave to Appeal to the Court of Final Appeal against the Determinations of the Market Misconduct Tribunal
  • Hong Kong Securities and Futures Commission Reprimands and Fines China Merchants Securities (HK) Co., Limited HK$27 million for Sponsor Failures
  • Hong Kong Securities and Futures Commission Reprimands and Fines China Merchants Securities (HK) Co., Limited HK$5 million for Mishandling Client Money
  • Hong Kong Securities and Futures Commission Bans Wong Ka Hang for nine months
  • Hong Kong Securities and Futures Commission Issues Circular to Credit Rating Agencies on Credit Rating Model Risk Management
  • Hong Kong Securities and Futures Commission Issues Circular on Third-party Deposits and Payments
  • Hong Kong Securities and Futures Commission Seeks Disqualification Order against Former Chief Financial Officer of Fujian Nuoqi Co., Ltd.
  • Hong Kong Securities and Futures Commission Issues Announcement in Respect of High Concentration of Shareholding in Best Mart 360 Holdings Limited
  • Hong Kong Monetary Authority Issues E-banking Alert: Beware of Unauthorized Small-value Payment Transactions
  • Hong Kong Monetary Authority Issues Circular Regarding Frequently Asked Questions Published by Securities and Futures Commission on Disclosure of Investigations Commenced by Licensed Corporations in the Notifications of Cessation of Accreditation
  • The Stock Exchange of Hong Kong Limited Publishes Latest Guidance Letter on Long Suspension and Delisting
  • The Stock Exchange of Hong Kong Limited Serves Notice on Sanai Health Industry Group Company Limited to Suspend Trading in its Shares
  • The Stock Exchange of Hong Kong Limited Publishes Exchange Notice – Suspension of Trading in Relation to Combest Holdings Limited
  • Hong Kong Exchanges and Clearing Limited Signs Memorandum with Beijing Antaike Information
  • Hong Kong Exchanges and Clearing Limited Welcomes its First Listing of Two-Time Inverse Product
  • Auction Company is Convicted of Direct Marketing Offense Stemming from a Complaint Received by the Office of the Privacy Commissioner for Personal Data, Hong Kong
  • Office of the Privacy Commissioner for Personal Data, Hong Kong and Singapore’s Personal Data Protection Commission Sign Memorandum of Understanding to Strengthen Cooperation in Personal Data Protection
  • Hong Kong Privacy Commissioner for Personal Data Publishes Investigation Report on the Data Breach Incident of Cathay Pacific Airways Limited and Hong Kong Dragon Airlines Limited
  • Hedge Fund Adviser Settles U.S. Securities and Exchange Commission Charges to Pay US$5 Million for Compliance Failures Related to Valuation of Fund Assets
  • U.S. Securities and Exchange Commission Charges Issuer with Conducting US$100 Million Unregistered Initial Coin Offering
  • U.S. Securities and Exchange Commission Adopts Rules and Interpretations to Enhance Protections and Preserve Choice for Retail Investors in Their Relationships with Financial Professionals
  • Financial Conduct Authority of the United Kingdom Confirms Extension of The Temporary Permission Regime Deadline
  • Financial Conduct Authority of the United Kingdom Publishes Decision Notices Concerning Cathay International Holdings Limited, its CEO and Finance Director
  • Financial Conduct Authority of the United Kingdom Confirms New Rules for P2P Platforms
  • Financial Conduct Authority of the United Kingdom and the Dutch Authority for the Financial Markets Agree on Closer Partnership
  • Financial Conduct Authority of the United Kingdom Confirms Biggest Shake-up to the Overdraft Market
  • European Securities and Markets Authority Launches Call for Evidence on Position Limits in Commodity Derivatives
  • European Securities and Markets Authority Adjusts Application of the Trading Obligation for Shares in a No-Deal Brexit
  • European Union Removes Aruba, Barbados and Bermuda from the List of Non-cooperative Jurisdictions
  • European Banking Authority, European Insurance and Occupational Pensions Authority and the European Securities Markets Supervisory Authority Launch Consultation on Technical Standards on the Reporting of Intra-group Transactions and Risk Concentration for Financial Conglomerates
  • Monetary Authority of Singapore Imposes Civil Penalty of SGD336,000 on Tham Wai Mun Raphael for Insider Trading
  • China Securities Regulatory Commission Directs the Launch of Transfer Services for Defaulted Bonds
  • Shanghai Stock Exchange Takes Disciplinary Action against Sponsoring Representatives of Application Project for Sci-tech Innovation Board
  • Shanghai Stock Exchange Circulates Notice of Criticism to Corporate Bond Issuers
  • Shenzhen Stock Exchange Conducts Censure on Shenzhen Datong Industrial Co., Ltd. for Its Refusal to Cooperate with the China Securities Regulatory Commission’s Duty Performing According to Law
  • The 1st Special Corporate Bond for Serving the Guangdong-Hong Kong-Macao Greater Bay Area Lands on Shenzhen Stock Exchange
  • The First 30-Year Municipal Bond Launches on Shenzhen Stock Exchange
  • Australian Securities and Investments Commission Updates Information for Businesses on Initial Coin Offerings and Crypto-assets
  • Australian Securities and Investments Commission Releases Market Integrity Report
  • Macquarie Securities (Australia) Limited Pays AUD300,000 Infringement Notice Given by the Markets Disciplinary Panel of Australia
  • Australian Securities and Investments Commission Consults on Proposals to Maintain Investor Protections by Restricting Retail Offers of ‘Stub-equity’
  • Securities and Exchange Surveillance Commission of Japan Makes Recommendation for Administrative Monetary Penalty Payment Order for Market Manipulation of 10-Year Japanese Government Bond Futures by Citigroup Global Markets Limited
  • International Organization of Securities Commissions Publishes Consultation Report on Issues, Risks and Regulatory Considerations Relating to Crypto-Asset Trading Platforms
  • Deutsche Börse’s Regulatory Reporting Hub Starts New Securities Financing Transactions Regulation Services
  • Financial Services Commission of Korea Introduces Deregulatory Measures to Boost Korea’s Derivatives Market
  • Financial Supervisory Authority of Finland Announces Virtual Currency Providers to be Covered by Supervision of Anti-money Laundering
  • Securities and Exchange Board of India Publishes Report of Working Group on “Foreign Portfolio Investors Regulations” for Public Comments
  • The Stock Exchange of Hong Kong Limited Issues Announcement in Relation to the Matter of Asia Coal Limited Cancellation of Listing
  • The Listing Committee of Stock Exchange of Hong Kong Limited Censures Kiu Hung International Holdings Limited and a Number of Its Current and Former Directors for Breaching the Listing Rules and/or the Director’s Undertaking
  • Hong Kong Securities and Futures Commission Issues Circular to Intermediaries on Prime Services and Related Equity Derivatives Activities
  • Hong Kong Securities and Futures Commission Issues Circular to Intermediaries – Implementation of Regulatory Requirements for Online and Offline Sale of Complex Products
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Financial Services Regulatory Update 2019/05/24

  • The Stock Exchange of Hong Kong Limited Imposes Specific Suspension Requirements for Listed Issuers with Disclaimer or Adverse Audit Opinions on their Financial Statements
  • Hong Kong Securities and Futures Commission and the Dutch Authority for the Financial Markets Sign Memorandum of Understanding on Netherlands-Hong Kong Mutual Recognition of Funds
  • Hong Kong Securities and Futures Commission Issues Circular on Recent Inspection Findings Related to Client Facilitation
  • Hong Kong Securities and Futures Commission and Independent Commission Against Corruption Operation Leads to Charging of Ex-Convoy Global Holdings Limited Director Cho Kwai Chee
  • Hong Kong Securities and Futures Commission Suspends Gransing Securities Co., Limited’s Chairperson Oei Hong Eng for Eight Months
  • Hong Kong Securities and Futures Commission Bans a Former Licensed Representative of China Galaxy International Securities (Hong Kong) Co., Limited for 30 Months
  • Hong Kong Monetary Authority Grants Stored Value Facility Licenses
  • Hong Kong Monetary Authority and Bank of Thailand Sign Memorandum to Foster Fintech Collaboration
  • The Listing Committee of Stock Exchange of Hong Kong Limited Censures GT Group Holdings Limited and a Number of its Current and Former Directors for Breaching the Listing Rules and/or the Director’s Undertaking
  • The Stock Exchange of Hong Kong Limited’s Announcement – in Relation to the Matter of China Huishan Dairy Holdings Company Limited (Provisional Liquidators Appointed) Proceeding to Third Stage of Delisting Procedures
  • The Listing Committee of Stock Exchange of Hong Kong Limited Censures Weiqiao Textile Company Limited and Three of its Current Directors for Breaching the Listing Rules and/or the Director’s Undertaking
  • The Stock Exchange of Hong Kong Limited Seeks Views on Strengthening ESG Rules and Publishes Guidance Materials on ESG and Gender Diversity
  • Insurance Authority of Hong Kong Commences Direct Regulation over Insurance Intermediaries on September 23, 2019
  • Hong Kong Competition Commission Welcomes Judgments in Hong Kong’s First Two Competition Cases
  • Hong Kong Competition Commission Publishes Cooperation and Settlement Policy
  • U.S. Securities and Exchange Commission Proposes Amendments to More Appropriately Tailor the Accelerated and Large Accelerated Filer Definitions
  • U.S. Securities and Exchange Commission Proposes Actions to Improve Cross-Border Application of Security-Based Swap Requirements
  • Competition and Markets Authority of the United Kingdom Launches Inquiry Relating to the Anticipated Acquisition of First Data Corporation by Fiserv, Inc.
  • People’s Bank of China and Monetary Authority of Singapore Renew Bilateral Currency Swap Arrangement
  • Monetary Authority of Singapore and Asia-Pacific Future Financial Research Institute Co-operate to Promote FinTech Innovation
  • Singapore Exchange Updates Rules on Securities Trading and Market Practices
  • Singapore Exchange Launches Securities Market “Trade at Close” Session
  • Keynote Remarks by Loh Boon Chye, Singapore Exchange CEO, at REITs Symposium 2019 on the Development of Singapore REITs
  • European Parliament Adopts New Whistle-blowers Rules
  • European Securities and Markets Authority Issues Two Positive Opinions on National Product Intervention Measures Relating to Binary Options and Contracts for Differences
  • European Securities and Markets Authority Announces Public Consultation by the Working Group on Euro Risk-free Rates on the Euro Overnight Index Average to Euro Short-term Rate Legal Action Plan
  • European Commission Fines Barclays, RBS, Citigroup, JPMorgan and MUFG Bank €1.07 Billion for Participating in Foreign Exchange Spot Trading Cartel
  • China Releases Notice on Conducting the Joint Reporting of Annual Investments and Operations Information of Foreign-Invested Enterprises in 2019
  • Shenzhen Stock Exchange and China Energy Investment Corporation Co., Ltd. Deepen Cooperation
  • Shenzhen Stock Exchange Publishes Guidance on Disclosure of Restructuring Information to Implement Market-oriented Reforms in Merger and Acquisitions and Restructurings
  • Australian Securities and Investments Commission Revokes Dual Authorization of 58 Australian Finance Services License Holders
  • Australian Securities and Investments Commission Consults on Lifting Standards and Transparency of Complaints Handling
  • Asia-Pacific Economic Cooperation Launches Digital Economy Partnership Agreement Negotiations
  • Cyprus Securities and Exchange Commission Issues Circular on Automated Screening Systems to Enhance Customer Due Diligence Measures
  • Cyprus Securities and Exchange Commission Issues Directive for the Prevention and Suppression of Money Laundering and Terrorist Financing
  • Cyprus Securities and Exchange Commission Issues Findings of Desk-based Reviews Regarding Capital Adequacy Forms
  • Belgian Real Estate Investment Trusts Allows to Raise Capital Through Accelerated Bookbuild
  • Nordic and Baltic Financial Supervisors Enhance Cooperation to Fight Money Laundering
  • Autorité des Marchés Financiers and Israel Securities Authority Sign Cooperation Agreement to Encourage Innovation
  • Abu Dhabi Global Market Enhances Guidance on Regulation of Crypto Asset Activities
  • Isle of Man Financial Services Authority Issues Consultation Responses in respect of the draft Insurance (Group Supervision) Regulations 2019 and the draft Corporate Governance Code of Practice for Designated Insurers
  • Vietnam Issues Guidelines on the Initial Public Offering of Shares and Transfer of State Capital by Book Building Method
  • The Memorandum of Understanding on Mutual Recognition of Funds between Hong Kong Securities and Futures Commission and Financial Conduct Authority of the United Kingdom is Revised
  • Futures Trader Convicted of Market Manipulation in a Prosecution Brought by Hong Kong Securities and Futures Commission
  • HKSAR Government Offers Inaugural Green Bond
  • Hong Kong Exchanges and Clearing Limited Extends After-hours Trading Session on June 17, 2019
  • Citibank (Hong Kong) Limited is Convicted of Direct Marketing Offense Stemming from a Complaint Received by the Office of the Privacy Commissioner for Personal Data, Hong Kong
  • Commissions Enhanced Multilateral Memorandum of Understanding Concerning Cross-Border Enforcement
  • U.S. Securities and Exchange Commission Obtains Emergency Order Halting Alleged Diamond-Related ICO Scheme Targeting Hundreds of Investors
  • Financial Conduct Authority of the United Kingdom Publishes Statement on the Launch of the Finalized Cost Transparency Initiative Templates
  • Financial Conduct Authority of the United Kingdom Reports on Cryptoassests and Forex Investment Scams
  • China Securities Regulatory Commission Announces the Progress of Investigation into Kangmei Pharmaceutical Co., Ltd.
  • Shenzhen Stock Exchange Launches Brand New Upgraded of Easy IR
  • Shanghai Stock Exchange Releases Overview and Analysis on 2018 Annual Reports of Listed Companies
  • Shanghai Stock Exchange Replies to Inquiries from Reporters Concerning the Progress for Review of Issuance and Listing on Sci-tech Innovation Board
  • Financial Sector Conduct Authority of South Africa Invites Public Comments on Draft Conduct Standard for Banks
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Financial Services Regulatory Update 2019/05/10

  • Hong Kong Monetary Authority and Securities and Futures Commission Issue Consultation on Further Enhancements to the Over-the-counter Derivatives Regime
  • Retrial of Insider Dealing Case by Market Misconduct Tribunal after Hong Kong Court of Final Appeal Dismisses Leave Application to Appeal
  • Hong Kong Monetary Authority Publishes its Annual Report 2018
  • Hong Kong Monetary Authority Announces Next Steps of Global Financial Innovation Network Cross-border Testing Pilot
  • Hong Kong Monetary Authority Issues Circular on Use of Personal Data in Fintech Development
  • Hong Kong Monetary Authority and International Finance Corporation Host Seminar on Environmental, Social, and Governance and Impact Investing in Infrastructure
  • Roadshow for Potential Green Bond Offering by the Hong Kong Special Administrative Region Government
  • Hong Kong Monetary Authority Introduces Key Measures on Sustainable Banking and Green Finance
  • Hong Kong Monetary Authority Grants Virtual Banking Licenses
  • The Stock Exchange of Hong Kong Limited Updates and Streamlines Guidance Materials
  • Hong Kong Insurance Authority Publishes Consultation Conclusions on Rules Prescribing the Maximum Number of Authorized Insurers for Insurance Agents and the Minimum Requirements for Insurance Brokers
  • U.S. Securities and Exchange Commission Charges Truckload Freight Company with Accounting Fraud
  • U.S. Securities and Exchange Commission and Commodity Futures Trading Commission Issue Investor Alert: Watch Out for Fraudulent Digital Asset and “Crypto” Trading Websites
  • U.S. Securities and Exchange Commission Proposes to Improve Disclosures Relating to Acquisitions and Dispositions of Businesses
  • U.S. Securities and Exchange Commission Charges Sapphire Glass Manufacturer and Former CEO With Fraud
  • European Securities and Markets Authority Adopts Product Intervention Renewal Decision in Relation to Contracts for Differences
  • European Securities and Markets Authority Submits Technical Advice on Sustainable Finance to the European Commission
  • European Council Adopts Rules on Screening of Foreign Direct Investments
  • European Banking Authority Launches Consultation on Technical Standards on the Standardized Approach for Counterparty Credit Risk
  • Bank of Canada and Monetary Authority of Singapore Conduct Successful Experiment for Cross-border Payments Using Distributed Ledger Technology
  • Monetary Authority of Singapore Updates E-Payments User Protection Guidelines
  • Monetary Authority of Singapore Publishes Consultation Paper on the Proposed Implementation of the Final Basel III Reforms
  • Monetary Authority of Singapore Replies to Questions from the Parliament on Digital Payment Tokens
  • Singapore Exchange, United Overseas Bank Limited and the China Chamber of International Commerce Sign Memorandum of Understanding to Help Chinese Enterprises Use Singapore as a Launchpad for ASEAN Expansion
  • Financial Conduct Authority of the United Kingdom Publishes Statement on Delay to Publication of Final Rules for Contract for Differences Products and Contract for Differences-like Options
  • Financial Conduct Authority of the United Kingdom Sets out Progress and Next steps in Promoting Innovation in Financial Services
  • Financial Conduct Authority of the United Kingdom Begins Review of Financial Advice Market
  • Financial Conduct Authority of the United Kingdom Publishes Discussion Paper on Intergenerational Finance
  • Financial Conduct Authority of the United Kingdom Does Not Regulate Issuing Mini-bonds activity
  • Financial Conduct Authority of the United Kingdom Changes Mortgage Advice Rules to Encourage Consumer Choice
  • Financial Conduct Authority of the United Kingdom Encourages Policy Makers to Use Power of Attorney Guide
  • Shanghai Stock Exchange Revises Certain Articles of the Rules Governing the Listing of Stocks on Shanghai Stock Exchange
  • Australian Securities and Investments Commission Suspends Australasia Wealth Services and Management’s Australian Financial Services License
  • Australian Securities and Investments Commission Urges Financial Institutions to Plan for London Interbank Offered Rate Transition
  • Luxembourg Commission de Surveillance du Secteur Financier Publishes Circular on the “Third Country” National Regime under MIFID II/MiFIR
  • Financial Supervisory Authority of Finland Supervises Virtual Currency Providers
  • Vietnam Approves the Project “Restructuring of the securities market and the insurance market up to 2020 and orientation to 2025”
  • Thailand Securities and Exchange Commission Issues New Registered Capital Rules of Securities Companies
  • World Federation of Exchanges Publishes Annual Sustainability Survey
  • Dubai Financial Services Authority Invites Applications for its 2019 Regulatory Sandbox “Summer Cohort”
  • United Arab Emirates Signs Memorandum of Understanding with Abu Dhabi Global Market and International Bank for Reconstruction and Development to Establish the International Technology Center
  • Ras Al Khaimah Courts of United Arab Emirates and Abu Dhabi Global Market Courts Formulate Their Procedures for the Enforcement of Judgments
  • Autorité des Marchés Financiers Adopts a New Regime for Crypto-assets
  • International Tax Authority of the British Virgin Islands Publishes Economic Substance Code
  • Hong Kong Exchanges and Clearing Limited Signs Memorandum of Understanding with Shanghai Ganglian E-Commerce and Wuxi Stainless Steel Exchange
  • Hong Kong International Arbitration Center Becomes the First International Arbitration Institution Authorized to Administer Disputes in Russia
  • Hong Kong Privacy Commissioner for Personal Data Urges Organizations to Adopt the Three Data Stewardship Values of Data Ethics
  • Shenzhen Stock Exchange and Indonesia Stock Exchange Reach Consensus on Jointly Building a China-Indonesia SME Capital Market Service Plan
  • Shenzhen Stock Exchange and Dhaka Stock Exchange of Bangladesh Launch the Market Coordination Mechanism
  • Shenzhen Stock Exchange Holds Seminar on Local Government Bond ETFs
  • Hong Kong Mortgage Corporation Limited Launches Policy Reverse Mortgage Program
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Financial Services Regulatory Update 2019/04/26

  • Market Misconduct Tribunal Fines Fujikon, its Chief Executive Officer and Chief Financial Officer HK$1.5 Million in Total for Late Disclosure of Inside Information Following Proceedings Brought by Hong Kong Securities and Futures Commission
  • Hong Kong Securities and Futures Commission Reprimands and Fines Nine Masts Capital Limited HK$1.2 million over Naked Short Selling
  • Hong Kong Securities and Futures Commission Bans Former Responsible Officer of Guosen Securities (HK) Brokerage Company Limited for 10 Months
  • Hong Kong Monetary Authority and Securities and Futures Commission Adopt a Coordinated Approach to Supervise Banks and Licensed Corporations
  • Hong Kong Monetary Authority Issues Circular on Introduction of Tiered Account Services
  • Hong Kong Monetary Authority and China Export & Credit Insurance Corporation Sign Memorandum of Understanding on Infrastructure Financing Facilitation
  • U.S. Securities and Exchange Commission Charges Former Woodbridge Group of Companies LLC Directors of Investment with Fraud
  • Silicon Valley Company Settles U.S. Securities and Exchange Commission’s Fraud Charge for Misstating Returns to Investors
  • Monetary Authority of Singapore Reprimands Mr Tan Choon Wee for the Omission of Information in a Capital Markets Services License Application and Failing to Discharge his Duty and Function as Chief Executive Officer and Director
  • Monetary Authority of Singapore Responses to Inquiries on Retail Bonds
  • Institute of Banking and Finance Singapore-Monetary Authority of Singapore Study Identifies Skills for More Competitive Financial Sector Workforce
  • Financial Conduct Authority of the United Kingdom Updates on Brexit Delay
  • Financial Conduct Authority of the United Kingdom Sets out its Priorities for 2019/20
  • Highlights of Speech by Andrew Bailey, Chief Executive of Financial Conduct Authority of United Kingdom, at Bloomberg, London on the Future of Financial Conduct Regulation
  • China Financial Futures Exchange Further Adjusts Rules for Stock Index Futures Trading
  • Australian Securities and Investments Commission Warns of Some Australian Financial Service Licensees Breaking Overseas Laws
  • Australian Securities and Investments Commission Surveys Highlight Continued Growth in Innovative Funding Platforms
  • Citigroup Refunds Over AUD3 Million to Clients Following an Australian Securities and Investments Commission Investigation
  • Australian Securities and Investments Commission Warns Trustees about Protecting Your Super Laws and Provides Guidance for Consumers
  • New Zealand Changes the Financial Advice Regulations
  • German Federal Financial Supervisory Authority Signs New Memorandum of Understanding with Prudential Regulatory Authority and Financial Conduct Authority of the United Kingdom to Regulate Supervisory Cooperation after Brexit
  • Italian Companies and Exchange Commission Approves 2019-2021 Three-year Strategic Plan
  • United Arab Emirates Abu Dhabi Global Market Strengthens Regulatory Supervision with Enhanced Anti-Money Laundering Regime
  • Dutch Authority for the Financial Markets Takes National Measures to Prohibit Binary Options and Restrict the Marketing or Sales of Contract for Difference
  • Swiss Financial Market Supervisory Authority Joins the Network for Greening the Financial System
  • Canadian Securities Administrators Signs Co-operation Agreement with Financial Conduct Authority of the United Kingdom
  • U.S. Commodity Futures Trading Commission Charges Foreign Exchange Trading Firms and Principals in US$75 Million Fraud
  • China and Japan Sign ETF Connectivity Agreement at Capital Markets Forum in Shanghai
  • European Banking Authority Publishes Opinion on the Nature of Passport Notifications for Agents and Distributors of E-money
  • Hong Kong Mortgage Corporation Limited and China Export & Credit Insurance Corporation Sign Memorandum of Understanding on Infrastructure Financing Co-operation
  • Cayman Islands Launches Public Consultation on Amendment to Securities Law
  • Privacy Commissioner for Personal Data, Hong Kong Releases Shopping Mall Membership Programs Compliance Checks Report
  • SIX Swiss Exchange and Shanghai Stock Exchange Sign an Updated Memorandum of Understanding
  • Shanghai Stock Exchange Releases its 2018 Social Responsibility Report
  • Shenzhen Stock Exchange and Stock Exchange of Thailand Sign Memorandum of Understanding on SME Capital Market Service

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Financial Services Regulatory Update 2019/04/12

  • Hong Kong Securities and Futures Commission Publishes Latest Takeovers Bulletin
  • Hong Kong Securities and Futures Commission Concludes Consultation on Securities Margin Financing
  • Former Director of DBA Telecommunication (Asia) Holdings Limited Convicted of Issuing False or Misleading Announcement in a Prosecution Brought by Hong Kong Securities and Futures Commission
  • Hong Kong Securities and Futures Commission Commences Insider Dealing Prosecution against Legal Adviser
  • Hong Kong Securities and Futures Commission Publishes Guidance on Enhanced Disclosures for Green or Environmental, Social and Governance Funds
  • Hong Kong Securities and Futures Commission Publicly Criticizes Kwok Tse Wah for Breaches of Code on Takeovers and Mergers
  • International Finance Corporation and Hong Kong Monetary Authority Strengthen Commitment to Green and Sustainable Finance Through Groundbreaking Agreements
  • Hong Kong Monetary Authority Announces to Launch Enhanced Competency Framework on Credit Risk Management
  • Hong Kong Monetary Authority Issues Circular on Qualifying Deferred Annuity Policy
  • Hong Kong Monetary Authority Grants the 4th Virtual Banking License
  • Insurance Authority of Hong Kong Publishes List of Deferred Annuity Products Qualified for Tax Deduction
  • Highlights of the Speech by Hong Kong Privacy Commissioner for Personal Data on Use of Personal Data in Digital Era
  • An Insurance Agent Convicted of Using Personal Data in Direct Marketing without Consent Stemming from a Complaint Received by the Office of the Privacy Commissioner for Personal Data, Hong Kong
  • U.S. Securities and Exchange Commission and Financial Conduct Authority of the United Kingdom Sign Updated Supervisory Cooperation Arrangements
  • U.S. Securities and Exchange Commission Charges Fresenius Medical Care AG & Co KGaA With Foreign Corrupt Practices Act Violations
  • U.S. Securities and Exchange Commission Charges Former CEO of Silicon Valley Startup with Defrauding Investors
  • Strategic Hub for Innovation and Financial Technology of U.S. Securities and Exchange Commission Publishes Framework for “Investment Contract” Analysis of Digital Assets
  • U.S. Securities and Exchange Commission Charges Transportation Company Executives with Accounting Fraud
  • U.S. Securities and Exchange Commission Charges Former SeaWorld Associate Inc. General Counsel with Insider Trading
  • U.S. Securities and Exchange Commission Brings Actions Against Fifteen Unregistered Brokers for Their Participation in an Illegal Offering of Microcap Securities
  • European Commission and Monetary Authority of Singapore Decide to Strengthen Cross-border Derivatives Trading
  • Cambodia and Singapore Strengthen Cooperation in FinTech Innovation
  • Financial Conduct Authority of the United Kingdom Fines Goldman Sachs International £34.3 million for Transaction Reporting Failures
  • Financial Conduct Authority of the United Kingdom Confirms Final Rules for Firms in the Event of a No-deal Brexit
  • Financial Conduct Authority of United Kingdom Confirms Permanent Ban on the Sale of Binary Options to Retail Consumers
  • Financial Conduct Authority of United Kingdom Begins Regulating Claims Management Companies
  • Highlights of Speech by Edwin Schooling Latter, Director of Markets and Wholesale Policy at Financial Conduct Authority of United Kingdom at London Stock Exchange on Effective Stewardship
  • Upper Tribunal Publishes Decision on Linear Investments Limited in Relation to Penalty Imposed by Financial Conduct Authority of the United Kingdom
  • Financial Conduct Authority of the United Kingdom Publishes Instructions for Accessing and Downloading Its Financial Instruments Transparency System Files
  • Financial Conduct Authority of United Kingdom Warns General Insurance Firms Failing to Consider Value of the Products and Services Provided to Consumers
  • Financial Conduct Authority of the United Kingdom Fines Standard Chartered Bank £102.2 million for Poor Anti-Money Laundering Controls
  • Shenzhen Stock Exchange Answers Questions from Reporters on the Notice on Adjustment to Transaction Methods for Listed Bonds
  • Shenzhen Stock Exchange Answers Questions from Reporters on the Business Guidelines for Credit Protection Instruments and Credit Protection Contracts
  • Greater Bay Area Indexes Are Launched to Boost High Quality Development of Greater Bay Area
  • Shanghai Stock Exchange Answers Questions on Acceptance of Companies’ Applications for Listing on Science and Technology Innovation Board
  • European Securities and Markets Authority Focus on New International Financial Reporting Standards and Non-financial Information
  • European Securities and Markets Authority Publishes Translations for Guidelines on Central Counterparty Conflict of Interest Management
  • European Securities and Markets Authority Updates Questions and Answers on Market in Financial Instruments Regulation Data Reporting
  • Australian Securities and Investments Commission Publishes Report on Consumers Confusing Different Types of Financial Advice
  • Australian Prudential Regulation Authority and Australian Securities and Investments Commission Publish World-leading Life Insurance Data
  • Australian Securities and Investments Commission Re-issues Practical Guidance for Foreign Financial Services Providers
  • Australian Securities and Investments Commission Welcomes Approval of New Laws to Protect Financial Service Consumers
  • Financial Conduct Authority of the United Kingdom and Australian Securities and Investments Commission Agree to Strengthen Cooperation Post-Brexit
  • International Organization of Securities Commissions Publishes Report on Behavioral Insights Seeking to Enhance Retail Investor Protection
  • Cyprus Securities and Exchange Commission Issues Circular on Compliance Officers’ Annual Reports and Internal Audit Reports
  • Cyprus Securities and Exchange Commission Outlines the Main Priorities and Supervisory Activities for 2019
  • Italian Companies and Exchange Commission Publishes Communication on the Protection of Investors of United Kingdom Financial Intermediaries Operating in Italy After the withdrawal of the United Kingdom from the European Union
  • United Arab Emirates Abu Dhabi Global Market Forms Strategic Cooperation with China Hainan Provincial Government on Financial Development and Growth of Hainan Free Trade Zone
  • Securities and Exchange Board of India Clarifies Transfer of Securities Held in Physical Mode
  • China Securities Regulatory Commission Signs Memorandum of Understanding Regarding Cooperation on Innovation in the Financial Sector with the Autorité des Marchés Financiers
  • European Banking Federation Supports the Fight against Financial Fraud & Crime
  • Hong Kong Exchanges and Clearing Limited Signs Memorandum of Understanding with Hebei Provincial Government
  • Singapore Exchange Pioneers Interest Rate Derivatives on Japan Repo

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Financial Services Regulatory Update 2019/03/29

  • Hong Kong Securities and Futures Commission Reprimands and Fines BOCI Securities Limited HK$10 Million for Regulatory Breaches in Selling Investment Products
  • Hong Kong Securities and Futures Commission Issues Circular on Implementation of Online Platform Guidelines and Offline Requirements for Complex Products
  • Hong Kong Securities and Futures Commission Issues Restriction Notices to Nine Brokers to Freeze Client Accounts Linked to Suspected Market Manipulation of China Ding Yi Feng Holdings Limited Shares
  • Hong Kong Securities and Futures Commission Publishes Statement on Security Token Offerings
  • Highlights of the Speech by Mr Ashley Alder, Chief Executive Officer of Hong Kong Securities & Futures Commission, at Bloomberg BuySide Summit 2019 on “Greening the Financial System”
  • The Stock Exchange of Hong Kong Limited’s Announcement Relating to Cloud Investment Holdings Limited – Cancellation of Listing
  • The Stock Exchange of Hong Kong Limited Updates and Streamlines Guidance Materials
  • The Stock Exchange of Hong Kong Limited Publishes its Latest Listing Committee Report
  • The Stock Exchange of Hong Kong Limited Publishes Guidance on Reasons for Rejected Listing Applications in 2018
  • Hong Kong Monetary Authority Issues Circular on a Statement on Crypto-assets Issued by the Basel Committee on Banking Supervision
  • Hong Kong Monetary Authority Issues Circular on Updating the Supervisory Policy Manual module CR-G-14
  • Hong Kong Monetary Authority Welcomes a Hong Kong Bank Launching Remote Onboarding Service for Opening Mainland Bank Accounts
  • Hong Kong Monetary Authority Issues Code of Practice Chapter in Relation to Financial Institutions (Resolution) (Loss-absorbing Capacity Requirements – Banking Sector) Rules
  • Hong Kong Monetary Authority Issues Circular on Implementation Arrangements on the Enhanced Investor Protection Measures for Sale and Distribution of Debt Instruments with Loss-absorption Features and Related Products
  • Hong Kong Monetary Authority Grants Virtual Banking Licenses
  • U.S. Securities and Exchange Commission Charges Volkswagen AG and Former CEO With Defrauding Bond Investors During “Clean Diesel” Emissions Fraud
  • U.S. Securities and Exchange Commission Charges Registered Investment Adviser and Former Chief Operating Officer With Defrauding Client
  • U.S. Securities and Exchange Commission Adopts Rules to Modernize and Simplify Disclosure Requirements
  • U.S. Securities and Exchange Commission Proposes Offering Reforms for Business Development Companies and Registered Closed-End Funds
  • Merrill Lynch, Pierce, Fenner & Smith Incorporated Pays Over US$8 Million to Settle U.S. Securities and Exchange Commission’s Charges for Improper Handling of American Depositary Receipts
  • U.S. Depository Trust & Clearing Corporation Outlines Guiding Principles for Post-Trade Processing of Tokenized Securities
  • U.S. Commodity Futures Trading Commission and Monetary Authority of Singapore Publish Joint Statement Regarding the Mutual Recognition of Certain Derivatives Trading Venues in the United States and Singapore
  • Monetary Authority of Singapore Sets out Enforcement Outcomes and Priorities in Inaugural Enforcement Report
  • China Adopts Foreign Investment Law
  • Financial Conduct Authority of the United Kingdom Publishes a Statement in Relation to Endorsement of Credit Ratings from the European Union into the United Kingdom in the Event of a No-deal Brexit
  • Prudential Regulation Authority and Financial Conduct Authority of the United Kingdom Agree Memorandum of Understanding with European Banking Authority
  • Financial Conduct Authority of the United Kingdom Proposes Changes for Customers to Get More Affordable Mortgage
  • Financial Conduct Authority of the United Kingdom Acts to Improve Competition in the Investment Platforms Market
  • Financial Conduct Authority of the United Kingdom Fines UBS AG £27.6 Million for Transaction Reporting Failures
  • Financial Conduct Authority of the United Kingdom Introduces United Kingdom Benchmarks Register
  • Serious Fraud Office of the United Kingdom Opens Investigation into London Capital & Finance Plc
  • European Securities and Markets Authority Publishes a Statement on Application of the Trading Obligation for Shares Following a No-Deal Brexit
  • European Securities and Markets Authority Agrees to Renew Restrictions on Marketing, Distribution or Sale of Contracts for Differences for a Further Three Months
  • Australian Securities and Investments Commission Extends Relief Provided for Business Introduction Services
  • Australia Develops Blockchain Roadmap and Strategy
  • Canadian Securities Administrators Consult on Regulatory Framework for Crypto-asset Trading Platforms
  • Cyprus Securities and Exchange Commission Reforms Investor Compensation Fund to Enhance Investor Protection
  • Cyprus Securities and Exchange Commission Reminds Regulated Entities on Notification Deadline for Financial Conduct Authority of the United Kingdom’s Temporary Permissions Regime
  • Italian Companies and Exchange Commission Publishes Communication on Obligations of Both British Intermediaries Operating in Italy and Vice-Versa on No-Deal Brexit
  • Italian Companies and Exchange Commission Publishes Communication on Over the Counter Derivative Contracts and Trading Venues
  • Dubai Financial Services Authority signs a Memorandum of Understanding with Morocco’s Bank Al Maghrib on Authorization and Supervision of Banks Across Borders
  • Belgium Approves the New Code of Companies and Associations
  • Swiss Financial Market Supervisory Authority Launches Consultation on the New Accounting Standards for Banks
  • German Federal Financial Supervisory Authority Publishes Information Regarding Investment Funds from the United Kingdom
  • Securities and Exchange Board of India Issues Circular on Clarification on participation of Eligible Foreign Investors in Commodity Derivatives in International Financial Services Centre
  • Autorité des Marchés Financiers Launches a Consultation on Proposed Measures to Prohibit and Restrict Marketing Binary Options and Contract for Difference Products
  • European Commission Welcomes European Parliament’s Vote in Favor of Modernized Copyright Rules Fit for Digital Age
  • Insurance Authority of Hong Kong Consults on the Proposed Codes of Conduct for Licensed Insurance Agents and Licensed Insurance Brokers
  • Singapore Exchange Expands Foreign Exchange Growth Pillar with Strategic Investment in BidFX
  • Singapore Securities Investors Association and Institute of Directors Publish Guide on Best Practices for Shareholder Meetings
  • Shenzhen Stock Exchange and Luxembourg Stock Exchange Launch the Green Fixed Income Information Channel
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Financial Services Regulatory Update 2019/03/15

  • Hong Kong Securities and Futures Commission Fines UBS Securities Hong Kong Limited HK$375 Million and Suspends its License for One year for Sponsor Failures
  • Hong Kong Securities and Futures Commission Reprimands and Fines Morgan Stanley Asia Limited HK$224 Million for Sponsor Failures
  • Hong Kong Securities and Futures Commission Reprimands and Fines Merrill Lynch Far East Limited HK$128 Million for Sponsor Failures
  • Hong Kong Securities and Futures Commission Reprimands and Fines Standard Chartered Securities (Hong Kong) Limited HK$59.7 million for Sponsor Failures
  • Hong Kong Securities and Futures Commission Seeks Disqualification Orders against Former Directors of Luxey International (Holdings) Limited
  • Hong Kong Securities and Futures Commission Issues Announcement in Respect of High Concentration of Shareholding in Grand Investment International Limited
  • The Stock Exchange of Hong Kong Limited’s Announcement – in Relation to the Matter of Zhongda International Holdings Limited Cancellation of Listing
  • The Stock Exchange of Hong Kong Limited Publishes Exchange Notice – Suspension of Trading in Relation to China Ding Yi Feng Holdings Limited
  • Hong Kong Exchanges and Clearing Limited Signs Licence Agreement with MSCI to Launch MSCI China A Index Futures
  • Hong Kong Monetary Authority Issues Circular on Reform of Interest Rate Benchmarks
  • Hong Kong Privacy Commissioner for Personal Data Releases Study Report on Implementation of Privacy Management Program by Data Users
  • BB&T Securities Settles U.S. Securities and Exchange Commission Charges to Return More Than US$5 Million to Retail Investors and Pay Penalty
  • Mobile TeleSystems PJSC Settles U.S. Securities and Exchange Commission Charges of Foreign Corrupt Practices Act Violations
  • Wedbush Securities Inc. Settles U.S. Securities and Exchange Commission Charges of Failure to Supervise
  • U.S. Securities and Exchange Commission Charges Lumber Liquidators Holdings Inc. with Fraud
  • U.S. Securities and Exchange Commission Share Class Initiative Returning More Than US$125 Million to Investors
  • Monetary Authority of Singapore Answers Questions from the Committee of Supply: Cuts on Grant for Equity Market, Corporate Governance and Sustainable Financing
  • Monetary Authority of Singapore Consults on Proposed Enhancements to Technology Risk and Business Continuity Management Guidelines
  • Highlights of Speech by Mr Daniel Wang, Executive Director, Monetary Authority of Singapore at 19th Asia CEO Insurance Summit on the Issues and Challenges Surrounding Technological Change and Digitization in the Insurance Sector
  • Director of Shenzhen Stock Exchange Research Institute Answers Questions from Reporters on the Study of Effective Capital Formation in the Guangdong-Hong Kong-Macao Greater Bay Area
  • Shenzhen Stock Exchange Spokesperson Answers Questions from Reporters on Self-regulatory and Disciplinary Measures Taken Against SZSE-listed Companies in 2018
  • Shenzhen Stock Exchange Issues a Development Index of Private Enterprises to Facilitate their Healthy Development
  • Shanghai Stock Exchange Focuses on Regulation in Disclosure and Review of Annual Reports
  • Questions and Answers on Shanghai Stock Exchange Issuing Supporting Rules and Guidelines for Launching Science-Technology Innovation Board and Piloting Registration-based IPO System
  • Questions and Answers on Securities Companies Authorizing Clients to Trade Stocks on Shanghai Stock Exchange’s Sci-Tech Innovation Board
  • China Releases Rules on Science and Technology Innovation Board and Pilot Registration-based IPO System
  • Financial Conduct Authority of the United Kingdom Releases Updated Guidance on European Union Departure Preparations
  • Financial Conduct Authority of the United Kingdom Confirms Proposals in the Event of a No-deal Brexit
  • Financial Conduct Authority of the United Kingdom Calls on Firms to Act Following Review of Costs and Charges Disclosure in the Investment Sector
  • Financial Conduct Authority of the United Kingdom Publishes Statements of Policy on the Operation of the MiFID Transparency Regime
  • Financial Conduct Authority of the United Kingdom Confirms Introduction of Rent-to-own Price Cap
  • Bank of England and Financial Conduct Authority Agree Memoranda of Understanding with European Insurance and Occupational Pensions Authority and European Union Insurance Supervisors
  • Financial Conduct Authority of the United Kingdom Action Delivers £80 Million Savings in Fees for Credit Card Customers
  • Financial Conduct Authority of the United Kingdom Welcomes Independent Review into Access to Cash
  • Financial Conduct Authority of the United Kingdom Reveals Findings from First Cryptoassets Consumer Research
  • Prudential Regulation Authority and Financial Conduct Authority of the United Kingdom Host the First meeting of the Joint Climate Financial Risk Forum
  • Financial Conduct Authority of the United Kingdom Issues Statement on the Reporting of Derivatives under the UK European Market Infrastructure Regulation Regime in a No-deal Scenario
  • Financial Conduct Authority of the United Kingdom Confirms Increase in Financial Ombudsman Service Award Limit
  • Financial Conduct Authority of the United Kingdom Financial Instruments Reference Data System Opens for Firms to Test Publication
  • Highlights of Speech by Steven Maijoor, Chair of European Securities and Markets Authority at the FinTech Conference 2019 on Crypto-assets
  • European Securities and Markets Authority Sets out its Approach to Several MiFID II/MiFIR and Benchmark Provisions under a No-deal Brexit
  • European Securities and Markets Authority Recognizes the United Kingdom Central Securities Depository in the Event of a No-deal Brexit
  • European Council Adopts Reform on Reducing Charges on Cross-border Payments and Increasing Transparency on Currency Conversion Charges
  • European Central Bank Sanctions Sberbank Europe AG for Breaching Large Exposure Limits in 2015
  • Australian Securities and Investments Commission Consults on Coverage of ePayments Code Review
  • Australian Securities Exchange Corporate Governance Council Releases the Fourth Edition Corporate Governance Principles and Recommendations
  • Cyprus Securities and Exchange Commission Requests Regulated Entities to Submit Information of Contact Details
  • Cyprus Securities and Exchange Commission Issues Circular on Guidance on Identifying, Assessing and Understanding the Risk of Terrorist Financing in Financial Centers
  • Italian Companies and Exchange Commission Published Warning Concerning Non-Financial Declarations
  • Emirates Securities and Commodities Authority, Financial Services Regulatory Authority of Abu Dhabi Global Market and Dubai Financial Services Authority Launch Fund Passporting Legislation Enabling UAE-Wide Promotion of Investment Funds
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Financial Services Regulatory Update 2019/03/01

  • Hong Kong Securities and Futures Commission Reprimands and Fines Guosen Securities (HK) Brokerage Company Limited HK$15.2 Million for Breaches of Anti-money Laundering Regulatory Requirements
  • Former GEM-listed Group Finance Manager Convicted of Insider Dealing in a Prosecution Brought by the Hong Kong Securities and Futures Commission
  • Hong Kong Securities and Futures Commission Responds to the Regulation of Cryptocurrencies and Collective Investment Schemes
  • Update on Hong Kong Securities and Futures Commission’s Front-Loaded Regulation of Listing Matters
  • Hong Kong Securities and Futures Commission Issues Quarterly Report
  • Court of Appeal Dismisses Appeal against Hong Kong Securities and Futures Commission and Market Misconduct Tribunal
  • Hong Kong Securities and Futures Commission Suspends China Merchants Securities (HK) Co. Limited’s Former Responsible Officer Wu Yinong for 18 Months
  • The Stock Exchange of Hong Kong Limited’s Announcement – in Relation to the Matter of Victory Group Limited Proceeding to Third Stage of Delisting Procedures
  • The Stock Exchange of Hong Kong Limited’s Announcement – in Relation to the Matter of China Taifeng Beddings Holdings Limited (Provisional Liquidators Appointed) Cancellation of Listing
  • Hong Kong Exchanges and Clearing Limited Intents to Acquire Shenzhen-Based Technology Business
  • Hong Kong Exchanges and Clearing Limited Establishes International Advisory Council
  • Hong Kong Exchanges and Clearing Limited Announces its Strategic Plan 2019-2021
  • Hong Kong Monetary Authority Publishes the Results of the Survey on Small and Medium-Sized Enterprises’ Credit Conditions for Fourth Quarter 2018
  • Hong Kong Monetary Authority Hosts the Launch of the Climate Bonds Initiative Hong Kong Green Bond Market Briefing Report
  • Hong Kong Privacy Commissioner for Personal Data Publishes Investigation Report on the Incident of Intrusion into Hong Kong Broadband Network’s Customer Database
  • Air Services Arrangements between Hong Kong and Mainland Expanded under the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area
  • Hong Kong Insurance Authority Welcomes Insurance-related Initiatives Announced in the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area
  • U.S. Securities and Exchange Commission Charges Cognizant Technology Solutions Corporation and Two Former Executives With Foreign Corrupt Practices Act Violations
  • U.S. Securities and Exchange Commission Files Charges in Elaborate Microcap Stock Fraud
  • U.S. Securities and Exchange Commission Proposes to Expand “Test-the-Waters” Modernization Reform to All Issuers
  • Company Settles Unregistered Initial Coin Offering Charges After Self-Reporting to U.S. Securities and Exchange Commission
  • U.S. Securities and Exchange Commission Charges Broker-Dealer and Transfer Agent in Microcap Shell Factory Fraud
  • U.S. Securities and Exchange Commission Halts South Florida Alternative Investments Scheme Targeting Retail Investors
  • Joint Media Release between Monetary Authority of Singapore and European Commission Concerning Common Approach on Certain Derivatives Trading Venues
  • Breaking the Cover-up, and Taking a Combination of Measures – Shenzhen Stock Exchange Cracks Down on Manipulation of Business Performance
  • Be Open and Innovative to Serve National Strategies Shenzhen Stock Exchange Roots for Construction of the Guangdong-Hong Kong-Macao Greater Bay Area
  • China’s First Cum-right Municipal Bonds Successfully Issued on Shenzhen Stock Exchange
  • Financial Conduct Authority of the United Kingdom Issues 2018 Performance Statement Regarding Operation of the Memoranda of Understanding with the Bank of England for Market Infrastructure
  • Financial Conduct Authority of the United Kingdom Publishes Wholesale Insurance Brokers Market Study Final Report
  • Financial Conduct Authority of the United Kingdom Issues its First Decision under Competition Law
  • Highlights of Speech by Megan Butler, Executive Director of Supervision – Investment, Wholesale and Specialists at Financial Conduct Authority of the United Kingdom at the Investment Association, London on the Progress of Ending London Inter-bank Offered Rate
  • Financial Conduct Authority of the United Kingdom Publishes Statement on Onshoring European Securities and Markets Authority’s Temporary Intervention Measures on Retail Contract for Difference Products and Binary Options Products
  • Financial Conduct Authority of the United Kingdom Urges Unauthorized Land Banking Scheme Victims to Get in Touch to Return Funds
  • European Union and Global Securities Regulators Welcome Agreement on Data Transfer
  • Australian Securities and Investments Commission Consults on Updating its Responsible Lending Guidance
  • Australian Securities and Investments Commission Pursues Harsher Penalties for Breaching Corporate and Financial Services Law
  • Australian Securities and Investments Commission Concludes HSBC Bank Australia Limited’s Compliance With Enforceable Undertaking
  • Australian Securities and Investments Commission Welcomes New Whistleblowing Laws
  • Abu Dhabi Global Market and Australian Securities and Investments Commission Sign Agreement to Enhance Collaboration
  • Cyprus Securities and Exchange Commission Proposes Bringing Crypto Asset Activities under the ambit of the Anti-Money Laundering Law
  • German Federal Financial Supervisory Authority Expands Special Representative’s Mandate
  • Minor amendment to the Swiss Financial Market Supervisory Authority Ordinance on Data Processing
  • Central Bank of Ireland Publishes Warning on Unauthorized Investment Firm
  • Joint statement by United Kingdom and U.S. Authorities on Continuity of Derivatives Trading and Clearing Post-Brexit
  • China Securities Regulatory Commission Issues Notice to Solicit Public Opinion on the Guidelines for Products of Managers for Management (MOM) of Securities Fund Operators (Draft for Comments)
  • China Securities Regulatory Commission Issues Notice to Solicit Public Opinion on the Supervision and Administrative Measures for the Sales Agencies of Publicly Offered Securities Investment Funds (Draft for Comments) and Related Supporting Rules
  • U.S. Federal Reserve Board Permanently Bars Former Employee of J.P. Morgan Chase & Co. from the Banking Industry
  • Video Social Networking App Musical.ly Agrees to Settle U.S. Federal Trade Commission Allegations that it Violated Children’s Privacy Law
  • Shanghai Stock Exchange Propels Set-up of Science – Technology Innovation Board and Pilot Registration-based IPO System

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Financial Services Regulatory Update 2019/02/15

  • Hong Kong Securities and Futures Commission Issues Circular to Announce New Licensing Forms and Mandatory Electronic Submission of Annual Returns and Notifications
  • Hong Kong Securities and Futures Commission Issues Restriction Notices to Three Brokers to Freeze Client Accounts Related to Suspected Market Misconduct
  • Hong Kong Securities and Futures Commission Revokes W. Falcon Asset Management (Asia) Limited’s License
  • Court of First Instance Dismisses Judicial Review Application Against Hong Kong Securities and Futures Commission
  • The Stock Exchange of Hong Kong Limited Publishes Consultation Conclusions on Proposed Changes to Documentary Requirements and Other Minor Rule Amendments
  • The Stock Exchange of Hong Kong Limited’s Announcement – in Relation to the Matter of China Fiber Optic Network System Group Limited (in Liquidation) Cancellation of Listing
  • Hong Kong Monetary Authority Announces Global Financial Innovation Network to Invite Applications for Testing Innovative Products
  • Hong Kong Monetary Authority Issues Circular on Remote On-boarding of Individual Customers
  • Hong Kong Monetary Authority Issues Circular on Interest Rate Risk in the Banking Book: Frequently Asked Questions
  • Hong Kong Monetary Authority Issues Circular on Self-assessment of Compliance with the Code of Banking Practice 2018
  • China Eyes Further Opening-up in Updated Draft Foreign Investment Law
  • U.S. Securities and Exchange Commission Charges Founder of Online Gaming Company Defrauding Investors
  • U.S. Securities and Exchange Commission Charges Former Senior Attorney at Apple With Insider Trading
  • U.S. Securities and Exchange Commission Charges Deloitte Japan With Violating Auditor Independence Rules
  • U.S. Securities and Exchange Commission Extends Comment Period for Rulemaking Proposal Regarding Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts
  • U.S. Financial Industry Regulatory Authority Inc. Announces Three Materially New Risk Monitoring and Examination Priorities
  • Monetary Authority of Singapore Allows Banks to Delay Implementation of E-Payment User Protection Guidelines
  • Monetary Authority of Singapore’s Responses to Public Inquiry about “Can Remittance Companies Lend Money”
  • Monetary Authority of Singapore Sets Up Corporate Governance Advisory Committee to Promote Good Corporate Governance
  • Nanyang Technological University Singapore and WeBank Set up Fintech Research Center
  • Financial Conduct Authority of the United Kingdom Launches Consultation on General Insurance Value Measures Data
  • Financial Conduct Authority of the United Kingdom Proposes New Measures to Encourage Effective Stewardship
  • Financial Conduct Authority of the United Kingdom Outlines How It Would Use the Temporary Transitional Power
  • Financial Conduct Authority of the United Kingdom Agrees Memoranda of Understanding with European Securities and Markets Authority and European Union Regulators to Allow Cooperation and Exchange of Information
  • Financial Conduct Authority of the United Kingdom Publishes its New Rules Following its Asset Management Market Study
  • Financial Conduct Authority of the United Kingdom Fines Former Fund Manager Paul Stephany
  • European Securities and Markets Authority Agrees No-deal Brexit Memoranda of Understanding with the Bank of England for Recognition of UK Central Counterparties and UK Central Securities Depository
  • Australian Securities and Investments Commission Announces its Preparation for Brexit
  • International Organization of Securities Commissions Seeks Public Opinion on Proposed Recommendations Related to Sustainable Finance
  • British Virgin Islands Government Announces Legislation Passed to Address European Union’s Economic Substance Concerns
  • Financial Reporting Council of Nigeria Publishes Nigerian Code of Corporate Governance 2018
  • UAE Abu Dhabi Global Market Undertakes Public Consultation on Revisions to Its Anti-Money Laundering Regime
  • Hong Kong Financial Services Development Council Releases Report on Enhancing Mandatory Provident Fund System in Hong Kong
  • Shanghai Stock Exchange Issues Notice to Solicit Public Opinion on the Establishment of the Sci-Tech Innovation Board and Piloting the Registration System
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Financial Services Regulatory Update 2019/02/01

  • The Stock Exchange of Hong Kong Limited Publishes Results of Latest Review of Issuers’ Annual Report Disclosure
  • Hong Kong Securities and Futures Commission Announces New Measures to Update its Licensing Processes
  • Luxembourg Law Requires Establishment of Register of Beneficial Owners of Companies
  • German Federal Financial Supervisory Authority Holds Consultation on Interpretative Guidance of the Bank Separation Act
  • China Securities Regulatory Commission Solicits Public Consultation for the Measures for the Administration of Domestic Securities and Futures Investment by Qualified Foreign Institutional Investors and Renminbi Qualified Foreign Institutional Investors (Consultation Paper) and the Supporting Rules
  • Hong Kong Monetary Authority Issues Circular on Handling Procedures for Following up Mis-transfer of Funds
  • Hong Kong Privacy Commissioner for Personal Data Advocates Data Ethics and Privacy Management Accountability
  • Seychelles Financial Services Authority Reminds Keeping of Accounting Records by International Business Companies
  • U.S. Securities and Exchange Commission Charges Four Public Companies with Longstanding Internal Control over Financial Reporting Failures
  • U.S. Securities and Exchange Commission Wins US$1 Billion Judgment Against Operators of Woodbridge Ponzi Scheme
  • Singapore Exchange Regulation Proposes to Strengthen Audit and Valuation Rules
  • Shanghai Stock Exchange Issues “Measures for Pilot Management of Credit Protection Instrument Business” and the Supporting Rules
  • Shanghai Stock Exchange Reports on Handling of SSE-listed Companies’ Violations in Information Disclosure in 2018
  • South Africa Releases Consultation Paper on Crypto Assets
  • Canada Business Corporations Act Amends the Requirements Regarding Beneficial Ownership of Privately-owned Corporations
  • Bank of Russia Announces Measures Aimed at Improving Financial Stability of Moscow Industrial Bank
  • European Banking Authority Publishes Report on Crypto-assets
  • European Central Bank Publishes Single Code of Conduct for High-level Officials
  • European Securities and Markets Authority Publishes Advice on Initial Coin Offerings and Crypto-assets
  • European Union Modernizes Company Law Rules Adapted to the Digital Era
  • European Union Adopts Electronic Communications Reform
  • European Council Agrees Position on New Regulatory and Supervision Framework for Investment Firms
  • Financial Conduct Authority of United Kingdom Consults on Cryptoassets Guidance
  • South Africa Financial Sector Conduct Authority Warns the Public against Wig Markets
  • Hong Kong Companies Registry Announces Commencement of the Companies (Amendment) (No. 2) Ordinance 2018 regarding Housekeeping Changes
  • Hong Kong Exchanges and Clearing Limited Enhances Designated Specialist Programme for Exchange Traded Products
  • Hong Kong Special Administrative Region and Mainland Sign Arrangement on Reciprocal Recognition and Enforcement of Judgments in Civil and Commercial Matters
  • International Monetary Fund Commends Hong Kong’s Strong Buffers and Prudent Policy Frameworks for Ensuring Continued Stability
  • Hong Kong Monetary Authority Issues Circular on Basel Committee’s Revised Market Risk Standards
  • The Stock Exchange of Hong Kong Limited Publishes Consultation Conclusions on Proposed Changes to Review Structure for Listing Committee Decisions
  • International Organization of Securities Commissions Publishes a Statement on Disclosure of Environmental, Social and Governance Matters by Issuers
  • International Organization of Securities Commissions Issues Good Practices to Assist Audit Committees in Supporting Audit Quality
  • London Stock Exchange Trading Technolog Selected by ATOM Group to Power the AAX Digital Asset Exchange
  • Monetary Authority of Singapore Revises Code on Take Overs and Mergers to Clarify Application for Dual Class Share Companies
  • Monetary Authority of Singapore Halts Securities Token Offering for Regulatory Breach
  • U.S. Securities and Exchange Commission Emergency Action Charges Texas Real Estate Developer for Multi-Million U.S. Dollar Offering Fraud
  • Hong Kong Market Misconduct Tribunal Sanctions China AU Group Holdings Limited’s Former CEO and Related Persons for False Trading
  • Hong Kong Securities and Futures Commission Issues Circular to Licensed Corporations on Revised Financial Return
  • Hong Kong Securities and Futures Commission, Hong Kong Exchanges and Clearing Limited and the Federation of Share Registrars Limited Launch Joint Consultation on Revised Model for an Uncertificated Securities Market
  • Highlights of Speech by Loh Boon Chye, Singapore Exchange CEO, at Nikkei Forum on Building a Digital Marketplace for Capital
  • Shenzhen Stock Exchange Improves Stock Pledged Repo Mechanism to Foster a Better Market Environment for Risk Alleviation
  • United Arab Emirates Securities and Commodities Authority Launches its Capital Market Sustainability Plan
  • Large United Kingdom Listed Companies Required to Apply New Executive Pay Transparency Measures
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Financial Services Regulatory Update 2019/01/18

  • Hong Kong Securities and Futures Commission Reprimands and Fines FWD Life Insurance Company (Bermuda) Limited HK$2.4 million for Regulatory Breaches
  • Hong Kong Securities and Futures Commission Publishes Updated Frequent Asked Questions Relating to Open-ended Fund Companies
  • Hong Kong Securities and Futures Commission Issues Restriction Notices to Three Brokers to Prohibit Order Placing in Listed Derivative Warrants in Client Accounts Linked to Suspected Market Misconduct
  • Hong Kong Securities and Futures Commission Issues Circular to Licensed Corporations and Associated Entities for the Launch of Revamped Business and Risk Management Questionnaire and New Online Portal
  • Hong Kong Securities and Futures Commission and Commission de Surveillance du Secteur Financier Sign Memorandum of Understanding on Luxembourg-Hong Kong Mutual Recognition of Funds
  • Hong Kong Monetary Authority Announces the Implementation Banking (Securitization) Code
  • Hong Kong Monetary Authority, Research Bureau of People’s Bank of China and Hong Kong Green Finance Association Co-organized “Green Finance in Action” Study Tour
  • Hong Kong Competition Commission Conducts Investigation into “Hong Kong Seaport Alliance”
  • Twelve Companies Prosecuted by Hong Kong Companies Registry for Failing to Keep Significant Controllers Register at Their Registered Offices
  • Hong Kong Communications Authority Conducts a Review of the Class License for Offer of Telecommunications Services
  • Hong Kong Communications Authority Conducts Review of the Class License for Offer of Telecommunications Services
  • Monetary Authority of Singapore Launches New S$75 Million Grant to Enhance Singapore’s role as an Enterprise Financing Hub
  • Financial Conduct Authority of the United Kingdom Announces Notification Window for the Temporary Permissions Regime Open
  • Financial Conduct Authority of United Kingdom Publishes Further Consultations Preparing the Regulatory Regime for Brexit
  • Financial Conduct Authority of the United Kingdom Issues a Letter to Regulated Firms Relating to the Use of Financial Promotions
  • Singapore Exchange Partners with China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity Administrative Bureau to Deepen Ties in Western China
  • Singapore Infocomm Media Development Authority Launches Initiatives to Accelerate Digitalization to Benefit Small and Medium Enterprises
  • China’s First Intellectual Property Asset-backed Securities Product Issued on Shanghai Stock Exchange
  • Shanghai Stock Exchange Issues Notice on “SSE Business Guidelines on Suspension and Resumption of Shares Trading of Listed Companies for Planning Major Issues”
  • Shenzhen Stock Exchange Revises Convertible and Exchangeable Bond Trading Rules to Replace Multi-account Subscription with Single-account Subscription
  • Shenzhen Stock Exchange Publishes Trading Suspension/Resumption Guidance to Maintain Market Fairness
  • Shenzhen Stock Exchange Provides Responses on the Implementation Rules of Shenzhen Stock Exchange on the Share Repurchase of Listed Companies
  • The Netherlands Publishes List of Low-tax Jurisdictions in Fight against Tax Avoidance
  • Cyprus Securities and Exchange Commission Issues Guidance and Clarification Concerning Alternative Investment Fund Managers Directive Reporting Obligations
  • Canada’s Competition Bureau and Defense Construction Canada Collaborate to Ensure Competitive Procurement Processes
  • Office of the Privacy Commissioner of Canada Imposes More Robust Guidelines on Consent for Personal Information
  • Philippines Securities and Exchange Commission Requests for Comments on the Updated Proposed Rules on Initial Coin Offering
  • Australian Securities and Investments Commission Suspends Halifax Investment Services Pty Ltd License
  • India’s Companies (Amendment) Ordinance 2018 Replaced by 2019 Ordinance
  • U.S. Securities and Exchange Commission Brings Charges Against Hacker and Several Traders and Related Entities in Edgar Hacking Case
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Financial Services Regulatory Update 2019/01/04

  • The Stock Exchange of Hong Kong Limited Updates Frequently Asked Questions Series 17 Regarding Corporate Governance Requirements
  • Hong Kong Securities and Futures Commission Publishes Review of The Stock Exchange of Hong Kong Limited’s Performance in Regulating Listing Matters
  • Hong Kong Court of First Instance Grants Orders Sought by Hong Kong Securities and Futures Commission against Boiler Room Fraudsters to Compensate Investors
  • Hong Kong Securities and Futures Commission Reprimands and Fines Ardon Maroon Fund Management (Hong Kong) Limited HK$800,000 for Cross Trade Related Failures
  • Hong Kong Exchanges and Clearing Limited in 2018: Year in Review
  • Hong Kong Monetary Authority Reprimands and Fines JPMorgan Chase Bank, National Association, Hong Kong Branch for Contraventions of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance
  • Hong Kong Privacy Commissioner for Personal Data Releases Inspection Report on Personal Data Systems of Private Tutorial Services Industry to Encourage Organizations in Enhancing Data Stewardship and Sharing Mutual Fairness, Respect and Benefit with Customers
  • JPMorgan Chase Bank N.A. to Pay More Than US$135 Million to Settle U.S. Securities and Exchange Commission’s Charges for Improper Handling of American Depositary Receipts
  • U.S. Securities and Exchange Commission Charges Two Robo-Advisers with False Disclosures
  • Financial Conduct Authority of the United Kingdom Fines Santander UK Plc £32.8 Million for Serious Failings in Its Probate and Bereavement Process
  • Hong Kong Exchanges and Clearing Limited Enhances Designated Specialist Program for Exchange Traded Products
  • China Consults Public Opinion on Draft Foreign Investment Law
  • United Arab Emirates Issues Decree-Law on Foreign Direct Investment
FS_Regulatory_Update_JML_20190104

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