Financial Services Regulatory Update 2021/06/11

  • Australian Securities and Investments Commission Clarifies Requirements on Declaration of Dividends During Schemes of Arrangement – Comparison with Hong Kong Requirements – Tightening Loose Regulation in Hong Kong
  • The Stock Exchange of Hong Kong Limited Implements Disciplinary Action against Dongyue Group Limited (Stock Code 189) and Ten Directors
  • The Stock Exchange of Hong Kong Limited Implements Disciplinary Action against Baytacare Pharmaceutical Co., Ltd. (Delisted, Previous Stock Code: 8197), 12 Directors and four Supervisors
  • The Stock Exchange of Hong Kong Limited Implements Disciplinary Action against Mr. Yu Jian Qiu, Executive Director and Chairman of China Metal Resources Utilization Limited (Stock Code: 1636)
  • Significant Guidances and Regulatory Initiatives of The Stock Exchange of Hong Kong Limited During the Period from May 28, 2021 to June 11, 2021
  • Hong Kong Securities and Futures Commission reprimands and Fines Ewarton Securities Limited HK$1.5 Million
  • The Court of First Instance of Hong Kong Orders Boiler Room Fraudsters to Compensate Investors
  • The Securities and Futures Appeals Tribunal of Hong Kong Allows Review for Mr. Cai Hongping against the Decision to Ban Him from Re-entering the Industry for Five Years
  • Market Misconduct Tribunal of Hong Kong Sanctions Mr. Cheng Chak Ngok for Insider Dealing in China Gas Shares
  • Hong Kong Securities and Futures Commission Suspends Mr. Lun Sheung Nim for 7.2 months
  • U.S. Commodity Futures Trading Commission Interest Rate Benchmark Reform Subcommittee Recommends July 26 for Transitioning Interdealer Swap Market Trading Conventions from LIBOR to SOFR
  • U.S. Federal Court Orders a Man to Pay More than US$500,000 for Attempting to Fraudulently Profit From COVID-19
  • U.S. Securities and Exchange Commission Charges Couple with Insider Trading on Confidential Clinical Trial Data
  • U.S. Securities and Exchange Commission Updates List of Firms Using Inaccurate Information to Solicit Investors
  • Singapore Exchange Welcomes Synergy Futures as Derivatives Trading Member
  • The Financial Conduct Authority of the United Kingdom Confirms Measures to Protect Customers from the Loyalty Penalty in Home and Motor Insurance Markets
  • Australian Securities and Investments Commission Commences Civil Proceedings against Shipbuilder Austal Limited for Continuous Disclosure Breach
  • Shenzhen Stock Exchange Further Implements Fee Cut Policy to Assist in the High-quality Development of Listed Companies
  • Shenzhen Stock Exchange Decides to Delist *ST Steyr According to Laws
  • Shenzhen Stock Exchange Strengthens Ex Post Regulation of Annual Reports in the Bond Market with a Focus on Enhancing the Fundamental Goal and Guarding Against Risks
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Financial Services Regulatory Update 2021/05/28

  • The Stock Exchange Hong Kong Limited Publishes Consultation Conclusions on (i) The Main Board Profit Requirement; and (ii) Review of Listing Rules Relating to Disciplinary Powers and Sanctions on the Same Day as it Publishes a Joint Statement with the Hong Kong Securities and Futures Commission on IPO-related Misconduct
  • The Stock Exchange of Hong Kong Limited Implements Disciplinary Action against Seven Former Directors of Huiyin Holdings Group Limited (Stock Code: 1178)
  • The Stock Exchange of Hong Kong Limited Implements Disciplinary Action against Tech Pro Technology Development Limited (Delisted, Previous Stock Code: 3823) and Seven of its Former Directors
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Long Well International Holdings Limited (Stock Code: 850)
  • U.S. Commodity Futures Trading Commission Orders a Firm to Pay US$500,000 for Wash Sales
  • U.S. Securities and Exchange Commission Charges S&P Dow Jones Indices for Failures Relating to Volatility-Related Index
  • U.S. Securities and Exchange Commission Charges Healthcare Company and Its Founder with Multimillion Dollar Fraud
  • Singapore Exchange Regulation to Continue to Suspend Entry into Issuers’ Watch-list
  • The Securities and Futures Fintech Research and Development Center (Shenzhen) Holds 2020 Closing Report and 2021 Opening Report Meeting
  • Shenzhen Stock Exchange Holds a Forum on Bond Regulation: Improving Information Disclosure Quality and Guarding against Risks
  • Shenzhen Stock Exchange Releases the 2020 Survey Report on Individual Investors
  • Shenzhen Stock Exchange’s First Publicly Offered Infrastructure REITs Approved by CSRC for Registration
  • The Financial Conduct Authority of the United Kingdom Announces Proposals to Stop the Practice of ‘Claims Management Phoenixing’, by Banning Claims Management Companies (CMCs) from Managing Financial Services Compensation Scheme (FSCS) Claims Where They Have a Relevant Connection to the Claim
  • Australian Securities and Investments Commission Sues AMP for Charging Deceased Customers
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Financial Services Regulatory Update 2021/05/14

  • Financial Conduct Authority of the United Kingdom Sets Out Proposals to Strengthen its Financial Promotion Rules for High-Risk Investments
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of REXLot Holdings Limited (In Liquidation) (Stock Code: 555)
  • The Stock Exchange of Hong Kong Limited Implements Disciplinary Action against Six Directors of Youyuan International Holdings Limited (delisted, previous Stock Code: 2268)
  • Hong Kong Securities and Futures Commission Announces the Launch of Grant Scheme for Open-ended Fund companies and Real Estate Investment Trusts
  • Hong Kong Market Misconduct Tribunal Sanctions China Medical & HealthCare Group Limited and its Directors for Late Disclosure of Inside Information
  • U.S. Commodity Futures Trading Commission Issues Order of Registration to Mercado Mexicano de Derivados, S.A. de C.V., to Permit Trading by Direct Access from the U.S.
  • U.S. Securities and Exchange Commission Charges Under Armour Inc. With Disclosure Failures
  • U.S. Securities and Exchange Commission Charges Broker-Dealer for Failures Related to Filing Suspicious Activity Reports
  • U.S. Securities and Exchange Commission Approves Registration of First Security-Based Swap Data Repository; Sets the First Compliance Date for Regulation SBSR
  • Singapore Exchange Regulation, NUS Business School, KPMG in Singapore Study Shows ESG, Particularly Climate, Important in Key Financial Institutions’ Asset Allocation, Lending and Underwriting
  • Financial Conduct Authority of the United Kingdom Fines Sapien Capital Ltd for Serious Financial Crime Control Failings in Relation to Cum/ex Trading
  • Australian Securities and Investments Commission Commences Civil Proceedings against Westpac for Insider Trading
  • Australian Securities and Investments Commission Takes Court Action to Wind-up PE Capital Funds Management Ltd and Managed Investment Schemes
  • Shenzhen Stock Exchange Releases Business Guidelines for Review of Stock Issuance and Listing on the ChiNext Board No. 1 – On-site Supervision of Sponsorship Business
  • Shenzhen Stock Exchange Improves Review Procedures for Mergers and Acquisitions on ChiNext Board
  • Shenzhen Stock Exchange Initiates Disciplinary Procedures for Steyr’s and Northcom’s Failure to Disclose Periodical Reports on Time
  • Shanghai Stock Exchange Specifies Key Concerns of Corporate Bond Review
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Financial Services Regulatory Update 2021/04/30

  • Monetary Authority of Singapore Sets up Singapore Funds Industry Group Partnering with the Private Sector to Strengthen Singapore’s Fund Management Ecosystem
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Global Token Limited (Stock Code: 8192)
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Convoy Global Holdings Limited (Stock Code: 1019)
  • Hong Kong Securities and Futures Commission Revokes IDS Forex HK Limited’s License and Bans its Former Co-CEOs for Life
  • Hong Kong Securities and Futures Commission and Police Conducts Joint Operation Against Listed Company and Senior Executives
  • U.S. Commodity Futures Trading Commission Orders a Man and His Company to Pay Over US$397,000 in Connection with a Digital Assets Solicitation Scheme
  • U.S. Federal Court Orders Owner of Precious Metals Firm to Pay US$1.3 Million to Victims of Fraudulent Precious Metals Scheme
  • U.S. Securities and Exchange Commission Charges Fund Manager and Former Race Car Team Owner with Multimillion Dollar Fraud
  • U.S. Securities and Exchange Commission Obtains Emergency Relief, Charges a Company and CEO with Misappropriating Investor Money and Operating a Ponzi Scheme
  • Singapore Exchange Welcomes Econ Healthcare (Asia) Limited to Catalist
  • Singapore Exchange and Consumer News and Business Channel Partner to Create Indices Focused on Growth Economies and Sectors of the Future
  • Financial Conduct Authority of the United Kingdom Censures Alsford Page & Gems Limited and Alsford Page & Gems Limited Agrees to Pay Extended Warranty Insurance Customers £399,902
  • Financial Conduct Authority Commences Criminal Proceedings for Fraud and Unauthorised Business
  • Australian Securities and Investments Commission Secures 20-year Ban for Mayfair 101 Director James Mawhinney from Fundraising and Promoting Investment Products
  • Shenzhen Stock Exchange Promotes Performance Explanation Meetings: Over Sixty Percent Annual Report Releasing Listed Companies Issue a Performance Explanation Meeting Notice
  • China Securities Regulatory Commission Strengthens Supervision of System Leavers’ Investment in Proposed Listed Companies
  • China Securities Regulatory Commission and Other Financial Management Authorities Jointly Interviewed Some Online Platform Companies Engaged in Financial Business
  • Shanghai Stock Exchange Revises and Releases Interim Regulation on Application and Recommendation for Issuance and Listing of Enterprises on Shanghai Stock Exchange STAR Market
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Financial Services Regulatory Update 2021/04/16

  • U.S. Securities and Exchange Commission’s Latest Response to the Unprecedented Surge in the Use of Special Purpose Acquisition Companies (SPACs) to List on the U.S. Securities Markets
  • The Stock Exchange of Hong Kong Limited Implements Disciplinary Action Against My Heart Bodibra Group Limited (Stock Code: 8297) and Two Directors
  • The Stock Exchange of Hong Kong Limited Implements Disciplinary Action Against China Tangshang Holdings Limited (Stock Code: 674) and its Executive Directors
  • Hong Kong Securities and Futures Commission Reprimands and Fines Black Marble Securities Limited HK$1.8 Million for Internal Control Failings and Regulatory Breaches
  • Hong Kong Eastern Magistrates’ Court Issued Arrest Warrant for alleged Social Media Ramp-and-Dump Manipulator
  • Hong Kong Market Misconduct Tribunal Sanctions Two Former Executives for Insider Dealing in Asia Telemedia Limited Shares
  • Hong Kong Eastern Magistrates’ Court Acquits Solicitor of Insider Dealing in Shares of CASH Financial Services Group Limited
  • Hong Kong Securities and Futures Commission Reprimands and Fines Optimas Capital Limited HK$1.05 Million Over Short Position Reporting Failures
  • U.S. Commodity Futures Trading Commission Orders A Man to Pay More than US$1 Million for Role in Fraudulent Binary Options Scheme
  • U.S. Federal Court Orders Company and its Owner to Pay More Than US$32 Million for Cryptocurrency Fraud and Misappropriation Scheme
  • U.S. Federal Court Orders A Man to Pay Over $10.3 Million for Defrauding Commodity Futures Clients in Long-Running Ponzi Scheme
  • U.S. Commodity Futures Trading Commission Orders The Alista Group, LLC and a Man to Pay More Than US$2.6 Million in Precious Metals Fraud
  • U.S. Securities and Exchange Commission Charged Auditor for Failure to Register with PCAOB and Multiple Audit Failures
  • U.S. Securities and Exchange Commission Obtains Emergency Asset Freeze, Charges Actor with Operating a US$690 Million Ponzi Scheme
  • U.S. Securities and Exchange Commission Charges Felon and Six Others in Oil-and-Gas Offering Fraud
  • Singapore Exchange Welcomes Haitong International Singapore as Securities and Derivatives Clearing Member
  • Singapore Exchange Consults on Special Purpose Acquisition Companies Listing Framework
  • Singapore Exchange, Enterprise Singapore and E-Steel Announce Inaugural Singapore International Ferrous Week
  • Singapore Exchange and New Zealand’s Exchange Seal Partnership on Dairy Derivatives to Unlock Growth
  • Singapore Exchange Welcomes Zhongda (HK) Futures as Derivatives Trading Member
  • Financial Conduct Authority of the United Kingdom Warns That Younger Investors are Taking on Big Financial Risks
  • Financial Conduct Authority of the United Kingdom Launches Campaign to Encourage Individuals to Report Wrongdoing
  • Australian Securities and Investments Commission to Adopt “No-action” Position for AGMs
  • Australian Securities and Investments Commission Bans the Sale of Binary Options to Retail Clients
  • Shenzhen Stock Exchange Officially Implements Merger between Main Board and SME Board to Better Serve High-quality Economic Development
  • Shenzhen Stock Exchange Releases Survey Report on Investor Relations Management of Listed Companies in 2020
  • China Securities Regulatory Commission issued a prior notice of administrative supervision measures to Haitong Securities, Haitong Asset Management and relevant responsible personnel
  • The People’s Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission and State Administration of Foreign Exchange issued “the Opinions on Financial Support for Hainan’s Comprehensively Deepening Reform and Opening-up”
  • The China Securities Regulatory Commission Publicly Solicits Opinions on the Revision of the “China Securities Regulatory Commission Administrative Licensing Implementation Procedure Regulations”
  • Shanghai Stock Exchange Held “Tracking China through Indexes” Virtual Roadshow
  • Shanghai Stock Exchange Accommodates to the Structural Changes in the Market and Strengthen the Protection of Investors’ Rights and Interests
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Financial Services Regulatory Update 2021/04/02

  • Additional Disclosure Required by Hong Kong Securities and Futures Commission of Future Intentions for Unlisted Securities When Offered as Consideration of Offer
  • The Stock Exchange of Hong Kong Limited Seeks Views on Reforms to Enhance Listing Regime for Overseas Issuers
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Harmonicare Medical Holdings Limited (Stock Code: 1509)
  • The Stock Exchange of Hong Kong Limited Implements Disciplinary Action against Coslight Technology International Group Limited (Stock Code: 1043) and its 10 Directors
  • The Stock Exchange of Hong Kong Limited Implements Disciplinary Action against China Yu Tian Holdings Limited (Delisted, Previous Stock Code: 8230) and its Seven Directors
  • Hong Kong Securities and Futures Commission Obtains Disqualification Orders against Former Senior Executives of Long Success International (Holdings) Limited
  • Hong Kong Securities and Futures Commission Reprimands and Fines GEO Securities Limited HK$6.3 Million for Breaching its Licensing Conditions and Failures related to the Sale of Unlisted Bonds
  • U.S. Federal Court Orders U.K. Man to Pay More Than US$571 Million for Operating Fraudulent Bitcoin Trading Scheme
  • U.S. Commodity Futures Trading Commission Orders Coinbase Inc. to Pay US$6.5 Million for False, Misleading, or Inaccurate Reporting and Wash Trading
  • U.S. Commodity Futures Trading Commission Charges Former Fuel Oil Trader with Manipulating Fuel Oil Benchmark
  • U.S. Commodity Futures Trading Commission Charges Rancher and Feedyard with US$233 Million Phantom Cattle Fraud Scheme
  • U.S. Securities and Exchange Commission Issues Amendments, Seeks Public Comment on Holding Foreign Companies Accountable Act
  • Keynote Speech by Chairman YI Huiman at the China Securities Regulatory Commission Roundtable of China Development Forum 2021
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Financial Services Regulatory Update 2021/03/19

  • Enterprise Ireland launches IPO Strategic Finance Program 2021 with Euronext
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Bolina Holding Co., Ltd. (In Liquidation) (Stock Code: 1190)
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of China Assurance Finance Group Limited (Stock Code: 8090)
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Gold-Finance Holdings Limited (Provisional Liquidators Appointed) (Stock Code: 1462)
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Youyuan International Holdings Limited (In Liquidation) (Stock Code: 2268)
  • Market Misconduct Tribunal Sanctions Magic Holdings International Limited and its Directors for Late Disclosure of Inside Information
  • Hong Kong Securities and Futures Commission Reprimands and Fines Sino-Rich Securities & Futures Limited HK$7.2 Million for Breaches of Anti-Money Laundering Regulatory Requirements
  • Hong Kong Securities and Futures Commission Issues Restriction Notices to 15 Brokers to Freeze Client Accounts Linked to Suspected Social Media Ramp-and-Dump Scam
  • Hong Kong Securities and Futures Commission Reprimands and Fines Yardley Securities Limited HK$5 Million for Breaches of Anti-Money Laundering Regulatory Requirements
  • U.S. Commodity Futures Trading Commission Charges Two Individuals with Multi-Million Dollar Digital Asset Pump-and-Dump Scheme
  • U.S. Commodity Futures Trading Commission Charges A Man with Fraud and Misappropriation
  • U.S. Securities and Exchange Commission Charges AT&T and Three Executives with Selectively Providing Information to Wall Street Analysts
  • U.S. Securities and Exchange Commission Charges Unregistered Investment Adviser with Defrauding Investors in Decade-Long Scheme
  • U.S. Securities and Exchange Commission Obtains Emergency Asset Freeze, Charges Trader with Posting False Stock Tweets
  • U.S. Securities and Exchange Commission Charges Fraudster With Selling “Insider Tips” on the Dark Web
  • U.S. Securities and Exchange Commission Charges Co-Founders of Biotech Company With US$60 Million Fraud
  • U.S. Securities and Exchange Commission Charges Owner of Real Estate Investment Company with Defrauding Investors
  • U.S. Securities and Exchange Commission Obtains Emergency Asset Freeze, Charges An Individual with Fraud Involving Sham Bottling Company
  • Shenzhen Stock Exchange Notifies Abnormal Trading of “China Development Bank 2009” and “China Development Bank 2008” to Remind Investors to Trade Rationally
  • Shenzhen Stock Exchange Firmly Implements New Development Philosophy and Launches Sci-Tech Innovation Bonds and Carbon-neutral Special Bonds
  • Shenzhen Stock Exchange Resolutely Fulfills Primary Responsibility of Delisting and Promotes Delisting of KDX in Accordance with Laws and Regulations
  • Shenzhen Stock Exchange Launches 2021 “Investor Service Season” Campaign
  • China Securities Regulatory Commission Issues the Rules of Organization for the Administrative Punishment Committee
  • Questions & Answers on Kangdexin’s Delisting Given by the Spokesperson of China Securities Regulatory Commission
  • Shanghai Stock Exchange Introduces Carbon-Neutral Green Bond, Serving National Strategies and Promoting Green Development
  • Take the China-Central and Eastern European Capital Market Collaboration to the Next Stage: Shanghai Stock Exchange Signs MOU with Belgrade Stock Exchange
  • Singapore Exchange Welcomes Aztech Global Ltd. to Mainboard
  • Singapore Exchange and Marex Spectron Collaborate on Ferrous Analytics Offering
  • Financial Conduct Authority of the United Kingdom Confirms the Increase in Thresholds for Contactless Payments
  • Australian Securities and Investments Commission Cancels Urban Commercial Group’s Australian Credit License
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Financial Services Regulatory Update 2021/03/05

  • Hong Kong Financial Reporting Council Initiates Investigation into Audits of Convoy Global Holdings Limited for 2017 to 2019
  • Hong Kong Monetary Authority’s Comments on Hong Kong’s Under-rated Bond Market and Game Changing Recent Developments
  • Hong Kong Securities and Futures Commission Reprimands and Fines Brilliance Asset Management Limited HK$3.15 Million Over Short Position Reporting Failures
  • Hong Kong Securities and Futures Commission and Financial Reporting Council to Enhance Collaboration
  • Hong Kong Securities and Futures Commission Petitions for the Winding Up of Adamas Asset Management (HK) Limited and Seeks to Appoint Provisional Liquidators
  • Hong Kong Securities and Futures Commission Obtains Disqualification Orders Against Former Senior Executives and Officers of Shandong Molong Petroleum Machinery Company Limited
  • Hong Kong Securities and Futures Commission and Police Joint Operation Against Suspected Ramp-and-Dump Syndicate
  • U.S. Federal Court Sanctions Former Energy Broker for Role in Disclosures of Material Nonpublic Information
  • U.S. Securities and Exchange Commission Charges Two Former KPMG Auditors for Improper Professional Conduct During Audit of Not-for-Profit College
  • U.S. Securities and Exchange Commission Suspends Trading in Multiple Issuers Based on Social Media and Trading Activity
  • U.S. Securities and Exchange Commission Charges Gas Exploration and Production Company and Former CEO with Failing to Disclose Executive Perks
  • U.S. Securities and Exchange Commission Charges Seven Individuals for US$45 Million Fraudulent Scheme
  • Shenzhen Stock Exchange Officially Launches the Technical System for Publicly Offered REITs
  • Shenzhen Stock Exchange Holds Greater Bay Area Infrastructure REITs Development Forum
  • Shenzhen Stock Exchange Unveils the Measures for Transferring the Listing of Companies on National Equities Exchange and Quotations to ChiNext
  • Shenzhen Stock Exchange Spokesperson Answers Reporters’ Questions on the On-site Inspections of Information Disclosure by the First Batch of Enterprises Listed on the ChiNext Board
  • Shenzhen Stock Exchange Optimizes Bond Repo Business to Improve Market Participants’ Sense of Gain
  • China Securities Regulatory Commission Issues the Administrative Measures for the Credit Rating Business of the Securities Market
  • China Securities Regulatory Commission Issues the Administrative Measures for the Issuance and Trading of Corporate Bonds
  • China Securities Regulatory Commission Held a Publicity and Implementation Symposium for Criminal Law Amendment (XI) of the People’s Republic of China
  • China Securities Regulatory Commission Spokesperson Answers Reporters’ Questions on the Situation of Companies which Applied for IPO
  • Shanghai Stock Exchange Spokesperson Answers Reporters’ Questions on the On-site Inspections of Information Disclosure by the First Batch of Enterprises Listed on the Science and Technology Innovation Board
  • Shanghai Stock Exchange issued the Measures for the Transfer of Listed Companies on the National Equities Exchange and Quotations to the Sci-Tech Innovation Board of the Shanghai Stock Exchange (Trial)
  • Singapore Exchange and Euroclear Bank to Launch Orchid Bond Structure
  • Singapore Trading Festival Turns Ideas into Actions with Virtual Summit and Trading Challenge
  • Financial Conduct Authority of the United Kingdom Returns Funds to Victims of Unauthorized Deposit Taking and Collective Investment Schemes
  • Financial Conduct Authority of the United Kingdom Censures Premier FX for Payment Rule Breaches
  • Australian Securities and Investments Commission Sets Five-year Sunset Date for Litigation Funding Legislative Instrument
  • The Monetary Authority of Singapore and The Association of Banks in Singapore Jointly Issued a Paper on Managing the Risks of Remote Working in Financial Institutions
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Financial Services Regulatory Update 2021/02/19

  • Hong Kong Securities and Futures Commission Consults on Conduct Requirements for Bookbuilding and Placing Activities
  • Hong Kong Exchanges and Clearing Limited Invests in Guangzhou Futures Exchange
  • The Stock Exchange of Hong Kong Limited Implements Disciplinary Action Against Hosa International Limited (Delisted, Previous Stock Code: 2200) and Five of its Directors (at the Date of Delisting)
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Master Glory Group Limited (In Liquidation) (Stock Code: 275)
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Fujian Nuoqi Co., Ltd (Stock Code: 1353)
  • The Stock Exchange of Hong Kong Limited Implements Disciplinary Action Against (1) Mr. Ha Chuen Yeung, a former executive director of Inno-Tech Holdings Limited (In Liquidation) (Stock Code: 8202); and (2) Mr. He Xiao Ming and Ms. Xie Yan, former executive directors of Teamway International Group Holdings Limited (Stock Code: 1239)
  • The Stock Exchange of Hong Kong Limited Implements Disciplinary Action Against Brightoil Petroleum (Holdings) Limited (Delisted, Previous Stock Code: 933) and Four of its Directors (at the Date of Delisting)
  • The Stock Exchange of Hong Kong Limited Updates Guidance Letter for Biotech Companies
  • The Stock Exchange of Hong Kong Limited Implements Disciplinary Action against Six Directors of Moody Technology Holdings Limited (Stock Code: 1400)
  • Market Misconduct Tribunal sanctions Li Yik Shuen for Insider Dealing in Meadville Holdings Limited Shares
  • Hong Kong Securities and Futures Commission Enters into a Memorandum of Understanding (MoU) on Cross-boundary Wealth Management Connect
  • Hong Kong Securities and Futures Commission Consults on Conduct Requirements for Bookbuilding and Placing Activities
  • Hong Kong Securities and Futures Commission Obtains Disqualification Orders Against Former Senior Executives of Far East Holdings International Limited
  • Hong Kong Securities and Futures Commission Issues Restriction Notices to Two Brokers to Freeze Client Accounts Linked to Suspected Social Media Ramp-and-Dump Scam
  • Hong Kong Securities and Futures Commission Issues Restriction Notices to 13 Brokers to Freeze Client Accounts Linked to Suspected Social Media Ramp-and-Dump Scam
  • U.S. Commodity Futures Trading Commission Charges Swaps Trader with Manipulation, Attempted Manipulation, and Making False Statements
  • U.S. Securities and Exchange Commission Charges Investment Adviser and Others With Defrauding Over 17,000 Retail Investors
  • U.S. Securities and Exchange Commission Charges Former Executives of A Company With Accounting Violations
  • U.S. Securities and Exchange Commission Charges Three Individuals in Digital Asset Frauds
  • U.S. Securities and Exchange Commission Charges Ratings Agency With Disclosure And Internal Controls Failures Relating To Undisclosed Model Adjustments
  • Shenzhen Stock Exchange Press Secretary Answers Reporters’ Questions on the Official Release of Supporting Business Rules for Publicly Offered Infrastructure REITs
  • Shenzhen Stock Exchange Strengthens Rules and Technology Guarantee to Actively Build a Publicly Offered Infrastructure REITs Market System
  • Shenzhen Stock Exchange Initiates the Merger Between Main Board and SME Board
  • Shenzhen Stock Exchange Spokesperson Answers Questions from Reporters on the Merger of Main and SME Boards
  • Establishing a Reporting Mechanism for Program Trading of Convertible Bonds to Promote the Convertible Bond Market Towards Healthy Development
  • Shenzhen Stock Exchange Press Secretary Answers Reporters’ Questions about the Notice on the Matters Related to the Program Trading Reporting of Convertible Bonds
  • Shenzhen Stock Exchange Press Secretary Answers Reporters’ Questions on the Supervision of the Shareholder Information Disclosure by the Companies Applying for Initial Public Offering
  • The China Securities Regulatory Commission Reports on Case Handling in 2020
  • The China Securities Regulatory Commission Issues Guidelines for Shareholder Information Disclosure of Companies Applying for IPO
  • The China Securities Regulatory Commission Issued the Regulations on the Registration Management System for Insiders of Listed Companies
  • The People’s Bank of China and the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, the Hong Kong Monetary Authority, the Hong Kong Securities and Futures Commission, and the Macau Monetary Authority Signed the Memorandum of Understanding on the Cross-boundary Wealth Management Connect Pilot Scheme in Guangdong-Hong Kong-Macao Greater Bay Area
  • Establishment of a Program Trading Reporting Mechanism for Convertible Bonds to Maintain the Order of Transactions in the Convertible Bond Market
  • Shanghai Stock Exchange Issues the Shanghai Stock Exchange Science and Technology Innovation Board Issuance and Listing Review Rules Application Guidelines No.1 – On-site Supervision of Sponsorship Business
  • Shanghai Stock Exchange Press Secretary Answers Reporters’ Questions on the Supervision of the Shareholder Information Disclosure by the Companies Applying for Initial Public Offering
  • Singapore Exchange and Temasek JV Ties up with Covalent Capital to Build End-to-end Digital Infrastructure
  • Monetary Authority of Singapore and Singapore Exchange Regulation Advise the Investing Public to Beware of Risks Related to Trading Incited by Online Discussions
  • Singapore Exchange, Trumid and Hillhouse Capital Form Joint Venture to Launch New Asian Bond Trading Platform
  • Report of Financial Conduct Authority of the United Kingdom Outlines Practices Firms Can Consider to Reduce Consumer Harm Caused by Failed Technology Changes
  • Update on Bank of England and Financial Conduct Authority of the United Kingdom Memorandum of Understanding on the Supervision of Market Infrastructure and Payment Systems
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Financial Services Regulatory Update 2021/01/29

  • How a Securities Exchange Can Cater to the Modern Needs of Issuer Biodiversity: Story of Rising Popularity of the Global Exchange Market of Euronext Dublin as a Venue of Choice for Debt Listing in Europe
  • Hong Kong Exchanges and Clearing Limited Welcomes Inclusion of STAR Market Stocks into Stock Connect and Further Expansion of Southbound Stock Connect Trading
  • The Stock Exchange of Hong Kong Limited Implements Disciplinary Action Against Sandmartin International Holdings Limited (Stock Code: 482) and Eight of its Current and Former Directors
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Real Nutriceutical Group Limited (Stock Code: 2010)
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Jian ePayments Systems Limited (Stock Code: 8165)
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Flyke International Holdings Limited (Stock Code: 1998)
  • Hong Kong Securities and Futures Commission and the Securities and Exchange Commission of Thailand Sign Memorandum of Understanding on Mutual Recognition of Funds
  • Hong Kong Securities and Futures Commission Issues Restriction Notices to Five Brokers to Freeze Client Accounts Linked to Suspected Market Manipulation
  • U.S. Commodity Futures Trading Commission Charges A Man in Multi-Million Dollar Digital Asset Ponzi Scheme Involving Bitcoin and Ether
  • U.S. Securities and Exchange Commission Updates List of Firms Using Inaccurate Information to Solicit Investors
  • U.S. Securities and Exchange Commission Charges Vuuzle Media Corp. and Affiliated Individuals in Connection with US$14 Million Offering Fraud
  • Shenzhen Stock Exchange Issues No. 1 Guidelines of Shenzhen Stock Exchange for Securities Investment Fund Business – Index Fund Development
  • Overview of the M&A and Restructuring Market of Shenzhen Stock Exchange in 2020
  • Overview of Refinancing of Listed Companies on the Shenzhen Stock Exchange in 2020
  • Shenzhen Stock Exchange Sign Memorandum of Understanding with Japan Exchange Group to Deepen Cooperation
  • China Securities Regulatory Commission Issued the Guidelines for the Operation of Publicly Offered Securities Investment Funds No. 3 — Guidelines for Index Funds
  • China Securities Regulatory Commission Approves the Establishment of Guangzhou Futures Exchange
  • Shanghai Stock Exchange Reports on Investigation and Handling of Violations of Information Disclosure Non-compliance of Listed Companies on Shanghai Stock Exchange in 2020
  • Shanghai Stock Exchange Issues “Shanghai Stock Exchange Fund Self-regulatory Rules Application Guidelines No. 1- Index Fund Development”
  • Shanghai Stock Exchange Issues the Amendment to the Measures of the Shanghai Stock Exchange for the Implementation of Shanghai-Hong Kong Stock Connect
  • Opening a New Chapter of Cooperation and Opening Up a New Win-Win Situation – Shanghai Stock Exchange and Japan Exchange Group Renewed the Sino-Japanese ETF Exchange Cooperation Agreement
  • Singapore Exchange and Temasek Partner to Advance Digital Asset Infrastructure in Capital Markets
  • Singapore Exchange Reports 1H FY2021 Net Profit of S$228 Million
  • Singapore Exchange Accelerates Sustainability Drive with Launch of ESG Derivatives
  • Financial Conduct Authority of the United Kingdom Reminds Firms to Regularly Review Regulatory Permissions
  • Financial Conduct Authority of the United Kingdom Clamps Down on Consumer Investment Harm
  • Financial Conduct Authority of the United Kingdom Proposes to Introduce Claims Management Companies Fee Price Cap
  • Response of Australian Securities and Investments Commission about Accellion Cyber Incident
  • Australian Securities and Investments Commission Consults on Financial Reporting and Annual General Meeting Deferral Relief for Companies in External Administration

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Financial Services Regulatory Update 2021/01/15

  • Australian Securities and Investments Commission Convicts a Former Director of Breaching Directors’ Duties (Criminal Offence)
  • The Stock Exchange of Hong Kong Limited Implements Disciplinary Action Against Xinming China Holdings Limited (Stock Code: 2699) and its Executive Director
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of China Huiyuan Juice Group Limited (Stock Code: 1886)
  • Hong Kong Securities and Futures Commission Bans Yung Lap Hong for Life
  • Hong Kong Eastern Magistrates’ Court Sentenced the Company Secretary of China Automation Group Limited to 45 days of Imprisonment for Insider Dealing
  • Hong Kong Court of First Instance Upholds Jail Sentence Against Former GEM-listed Group Finance Manager for Insider Dealing
  • U.S. Commodity Futures Trading Commission Approves NFA’s Swap Dealer Capital Model Review Program
  • U.S. Commodity Futures Trading Commission and ESMA Sign Enhanced MOU Related to Certain Recognized Central Counterparties
  • U.S. Securities and Exchange Commission Charges Deutsche Bank With FCPA Violations Related to Third-Party Intermediaries
  • U.S. Securities and Exchange Commission Charges Real Estate Fund Manager With Misappropriating Over US$7 Million From Retail Investors
  • Stepping up Regulation with Zero Tolerance for Violations – Overview of Shenzhen Stock Exchange’s Disciplinary Punishment in 2020
  • Shenzhen Stock Exchange Deepens Blockchain Cooperation with a Number of Equity Exchanges
  • Promote High-quality Development of Innovation-oriented Enterprises and Startups with Information Disclosure at the Core — Shenzhen Stock Exchange Releases Guidelines for Information Disclosure by the Communications Industry and the Cybersecurity Industry Listed on the ChiNext Board
  • Stepping up Regulation to Continuously Improve Information Disclosure of Listed Companies – Shenzhen Stock Exchange Publishes the Information Disclosure Guidelines for Five Industries Including Food & Liquor Making, Electric Power and Automobile Manufacturing
  • The China Securities Regulatory Commission issued the “Regulations on Strengthening the Supervision of Private Investment Funds”
  • The China Securities Regulatory Commission issued the “Administrative Measures for Convertible Corporate Bonds”
  • Handling Violations of Bond-related Regulations and Safeguarding the High-Quality Development of The Bond Market with the “Zero Tolerance” Policy – The Shanghai Stock Exchange Publicly Condemns Brilliance Group and Relevant Persons Responsible
  • Financial Conduct Authority of the United Kingdom Agrees MoUs with European Authorities in the Areas of Securities, Insurance and Pensions, and Banking
  • Financial Conduct Authority of the United Kingdom Warns Consumers of the Risks of Investments Advertising High Returns Based on Cryptoassets
  • Singapore Exchange Reports Market Statistics for December 2020
  • Singapore Exchange Regulation Enhances Rules on Auditors, Valuers and Valuation Reports
  • Singapore Exchange Appoints Herry Cho as New Head of Sustainability and Sustainable Finance
  • Australian Securities and Investments Commission Approves Variations to the Banking Code of Practice
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Financial Services Regulatory Update 2020/12/31

  • Hong Kong Magistrates’ Court Convicts Company Secretary of Insider Dealing via Spouse’s Securities Account
  • Hong Kong Market Misconduct Tribunal Finds Li Yik Shuen Culpable of Insider Dealing in Meadville Holdings Limited Shares
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Combest Holdings Limited (Stock Code: 8190)
  • The Listing Committee of The Stock Exchange of Hong Kong Limited Criticizes Wai Chi Holdings Company Limited (Stock Code: 1305) and its Executive Director, Mr. Chen Wei Wu, for Breaching the Listing Rules and/or the Director’s Undertaking
  • The Stock Exchange of Hong Kong Limited Publishes Conclusions on Paperless Listing & Subscription Regime, Online Display of Documents and Reduction of the Types of Documents on Display
  • The Stock Exchange of Hong Kong Limited Publishes its Latest Review of Issuers’ Corporate Governance Practices, and Practitioners’ Insights on Corporate Governance and ESG
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Hua Han Health Industry Holdings Limited (In Compulsory Liquidation) (Stock Code: 587)
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Netel Technology (Holdings) Limited (Stock Code: 8256)
  • Hong Kong Exchanges and Clearing Limited Launches New Service to Facilitate Lodging of Shareholders’ Written Requisitions
  • Hong Kong Securities and Futures Commission Reprimands and Fines Fulbright Securities Limited HK$3.6 Million
  • Hong Kong Securities and Futures Commission Concludes Consultation on Customer Due Diligence Requirements for Open-Ended Fund Companies
  • Hong Kong Securities and Futures Commission Previews New Electronic Licensing Services on WINGS, its Platform for Electronic Forms and Online Submission Services
  • Hong Kong Securities and Futures Commission Proposes Amendments to The Code on Pooled Retirement Funds
  • Hong Kong Securities and Futures Commission Licenses First Virtual Asset Trading Platform
  • Hong Kong Securities and Futures Commission Proposes to Upgrade the Industry’s Competency Standards
  • U.S. Federal Court Orders a Man to Pay Over US$255,000 in Futures and Forex Fraud Scheme
  • U.S. Federal Court Orders Interdealer Broker to Pay US$7 Million for Deceptive Trading Practices in the FX Options Markets
  • U.S. Court Enters US$740,968 Judgement Against Company and its Principal for Registration, Disclosure, and Recordkeeping Violations
  • U.S. Securities and Exchange Commission Proposes Amendments to Rule 144 and Form 144
  • U.S. Securities and Exchange Commission Adopts Modernized Marketing Rule for Investment Advisers
  • U.S. Securities and Exchange Commission Adopts Final Rules for the Disclosure of Payments by Resource Extraction Issuers
  • U.S. Securities and Exchange Commission Charges Robinhood Financial With Misleading Customers About Revenue Sources and Failing to Satisfy Duty of Best Execution
  • U.S. Securities and Exchange Commission Adopts Clearing Agency Rule to Limit Potential for Overlapping or Duplicative Regulation
  • U.S. Securities and Exchange Commission Obtains Emergency Asset Freeze, Charges Crypto Fund Manager with Fraud
  • Monetary Authority of Singapore Announces Further Extension of the US$60 Billion Swap Arrangement with the US Federal Reserve
  • Australian Securities and Investments Commission Places Restrictions on Regional Express Holdings Limited Following Continuous Disclosure Failures
  • Australian Securities and Investments Commission Commences Civil Penalty Proceedings Against La Trobe Financial Asset Management Ltd
  • Australian Securities and Investments Commission Highlights Focus Areas for December 31, 2020 Financial Reports Under COVID-19 Conditions
  • Financial Conduct Authority of the United Kingdom Establishes Temporary Registration Regime for Cryptoasset Businesses
  • Financial Conduct Authority of the United Kingdom Fines Charles Schwab UK Ltd £8.96 Million Over Safeguarding and Compliance Failures
  • Singapore Exchange Signs Memorandum of Understanding With China Central Depository and Clearing Corporation to Strengthen Singapore-China Bond Markets
  • Singapore Exchange Welcomes Aedge Group Limited to Catalist
  • Singapore Exchange Strengthens Commitment to Sustainability With S$20 Million Plan
  • Singapore Exchange Named Regulation Asia’s Exchange of the Year for 3rd Year Running
  • Singapore Exchange Welcomes China International Capital Corporation as Securities Trading Member
  • Singapore Exchange Welcomes G.H.Y Culture & Media Holding to Mainboard
  • Shenzhen Stock Exchange Launches the CNI Xiangmi Lake Culture and Creativity Index
  • Shenzhen Stock Exchange Launches the Column of “Service Guides” to Advance “Institutionalized, Standardized, Process-based and Electronic” Regulation
  • Shenzhen Stock Exchange Spokesperson Answers Reporters’ Questions on Revision of Relevant Business Rules Concerning Delisting
  • Questions & Answers on Shanghai Stock Exchange’s Revision of Delisting System
  • Questions & Answers on Joint Regulatory Interview of Ant Group Co., Ltd. Given by Pan Gongsheng, Deputy Governor of the People’s Bank of China
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Financial Services Regulatory Update 2020/12/11

  • Hong Kong Court of Appeal Clarifies the Majority Test and Fairness Test for Sanctioning Schemes of Arrangement Involving Takeover Offers
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of SMI Holdings Group Limited (In Liquidation) (Stock Code: 198)
  • Hong Kong Exchanges and Clearing Limited Launches Sustainable and Green Exchange (STAGE)
  • Hong Kong Exchanges and Clearing Limited Announces Stock Connect Expansion Arrangements among The Stock Exchange of Hong Kong Limited, Shanghai Stock Exchange and Shenzhen Stock Exchange
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Wuzhou International Holdings Limited (Stock Code: 1369)
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Haitian Energy International Limited (In Provisional Liquidation) (Stock Code: 1659)
  • The Stock Exchange of Hong Kong Limited Publishes Consultation Paper on Main Board Profit Requirement
  • Hong Kong Securities and Futures Commission Provides Additional Guidance on External Electronic Data Storage
  • Market Misconduct Tribunal Finds Insider Dealing in Shares of China Gas Holdings Limited
  • Hong Kong Securities and Futures Commission Consults on Investor Identification
  • Hong Kong Securities and Futures Commission Announces that Amendments to the Code on Real Estate Investment Trusts (REIT Code) Have Taken Effect
  • Hong Kong Securities and Futures Commission Commences Legal Proceedings Against New Ray Medicine International Holding Limited and its Former Top Executives
  • U.S. Commodity Futures Trading Commission Unanimously Approves Final Rules Related to Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants
  • U.S. Commodity Futures Trading Commission Unanimously Approves Final Rules Related to Swap Execution Facilities and Withdraws Unadopted Proposals
  • U.S. Commodity Futures Trading Commission Approves Two Final Rules at December 8 Open Meeting
  • U.S. Commodity Futures Trading Commission Orders Vitol Inc. to Pay US$95.7 Million for Corruption-Based Fraud and Attempted Manipulation
  • U.S. Securities and Exchange Commission Modernizes Framework for Fund Valuation Practices
  • U.S. Securities and Exchange Commission Adopts Rules to Modernize Key Market Infrastructure Responsible for Collecting, Consolidating, and Disseminating Equity Market Data
  • U.S. Securities and Exchange Commission Charges The Cheesecake Factory For Misleading COVID-19 Disclosures
  • U.S. Securities and Exchange Commission Orders BlueCrest to Pay US$170 Million to Harmed Fund Investors
  • U.S. Securities and Exchange Commission Charges Disbarred and Licensed Attorney with Scheme to Create False Opinion Letters
  • First Batch of Pilot Credit Protection Certificates Are Successfully Issued via Shenzhen Stock Exchange
  • Officials from Relevant Departments of the China Securities Regulatory Commission Answered Reporter Questions regarding the U.S. House Approving Holding Foreign Companies Accountable Act
  • Sample Stocks for Shenzhen Stock Exchange Component Index, ChiNext Index and Shenzhen Stock Exchange 100 Index to be Adjusted
  • To Provide Warm and Targeted Regulatory Services – Shenzhen Stock Exchange Issues Reference Text for Regulations on Corporate Bondholders’ Meetings
  • Shanghai Stock Exchange Issues Business Guide No.1 for Corporate Bond Duration – Rules for Corporate Bond Holders’ Meetings (Reference Text)
  • Shanghai Stock Exchange Amends the Rules of the Shanghai Stock Exchange Governing Review of the Issuance and Listing of Stocks on the Science and Technology Innovation Board and the Administrative Measures of the Shanghai Stock Exchange Governing the Listing Committee of the Science and Technology Innovation Board
  • Shanghai Stock Exchange Optimizes the Review and Approval Rule System for the Issuance and Listing of Corporate Bonds Through the Registration System
  • From Full Force to Targeted Measures, Shenzhen Stock Exchange to Take Solid Steps to Improve the Quality of Listed State-owned Enterprises
  • Australian Securities and Investments Commission Issues Information Sheet on Managing Conduct Risk During LIBOR Transition
  • Australian Securities and Investments Commission Succeeds in Application to Wind up Chris Marco’s Unregistered Managed Investment Scheme
  • Administrative Appeals Tribunal Upholds Decision of Australian Securities and Investments Commission to refuse Allegra a License
  • Singapore and China Expand Financial Cooperation to Support Post-COVID-19 Recovery
  • Monetary Authority of Singapore Launched Digital Infrastructure to Enable More Effective Financial Planning by Singaporeans
  • Singapore Exchange Welcomes the Listing of China Development Bank’s Domestic Bonds
  • Singapore Exchange Welcomes Credit Bureau Asia Limited to Mainboard
  • Singapore Exchange Welcomes the Listing of Lion-OCBC Securities Hang Seng TECH ETF
  • Financial Conduct Authority of the United Kingdom Reminds Firms to Be Ready for End of Transition Period
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Financial Services Regulatory Update 2020/11/27

  • The European Union’s New Rules for a Single European Crowdfunding Framework
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Centron Telecom International Holding Limited (In Provisional Liquidation) (Stock Code: 1155)
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Chong Sing Holdings Fintech Group Limited (In Official Liquidation) (Stock Code: 8207)
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of DBA Telecommunication (Asia) Holdings Limited (Stock Code: 3335)
  • Hong Kong Exchanges and Clearing Limited Releases Cash Market Transaction Survey 2019
  • Hong Kong Exchanges and Clearing Limited to Introduce Synapse, a Settlement Acceleration Platform for Stock Connect
  • Hong Kong Exchanges and Clearing Limited Seeks Views on New Proposal to Modernise Hong Kong IPO Settlement Process
  • Hong Kong Securities and Futures Commission Bans Pang Hon Pan for 21 Months
  • Hong Kong Securities and Futures Commission Bans Chan Shun King for 24 Months
  • Hong Kong Securities and Futures Commission and Israel Securities Authority Sign Fintech Cooperation Agreement
  • U.S. Commodity Futures Trading Commission Unanimously Approves Final Rule for Granting Exemptions from Derivatives Clearing Organization Registration
  • U.S. Commodity Futures Trading Commission Unanimously Approves Final Rule Amending Swap Execution Facility Requirements
  • U.S. Securities and Exchange Commission Adopts Rules to Facilitate Electronic Submission of Documents to the Agency
  • U.S. Securities and Exchange Commission Adopts Amendments to Modernize and Enhance Management’s Discussion and Analysis (MD&A) and other Financial Disclosures
  • U.S. Securities and Exchange Commission Proposes Temporary Rules to Facilitate Measured Participation by Certain “Platform Workers” in Compensatory Offerings Under Rule 701 and Form S-8
  • U.S. Securities and Exchange Commission Proposes Amendments to Modernize Framework for Securities Offerings and Sales to Workers
  • Australian Securities and Investments Commission Urges Insurers to Respond to New Accounting Standard
  • Joint Statement on the Implementation of Prudential Reforms in the Financial Services Bill
  • Financial Conduct Authority of the United Kingdom Warns Firms to Be Responsible When Handling Client Data
  • HM Treasury, Bank of England and Financial Conduct Authority of the United Kingdom Convene Working Group to Facilitate Investment in Productive Finance
  • Financial Conduct Authority of the United Kingdom Announces Benefits of New Data Collection Platform RegData
  • Monetary Authority of Singapore Enhances RMB Liquidity Through a New RMB 25 Billion Initiative for Banks
  • Monetary Authority of Singapore Launches World’s First Grant Scheme to Support Green and Sustainability-Linked Loans
  • Association of Banks in Singapore and Singapore Exchange Regulation Enhance Due Diligence Standards
  • Shenzhen Stock Exchange Establishes the 1st Accounting Advisory Committee to Build Market Synergy and Improve Quality of Financial Information Disclosure in Capital Market
  • Questions & Answers on the Guidelines of Shanghai Stock Exchange No. 3 for the Application of Self-Regulation Rules for Listed Companies – Classified Supervision and Administration of Information Disclosure
  • Officials from Relevant Departments of the China Securities Regulatory Commission Answers Reporter’s Questions Regarding Audit Oversight Cooperation with the U.S.
  • Chengdu Huaze Cobalt and Nickel Material Co., Ltd. Violates the Laws and Regulations on Important Information Disclosure
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Financial Services Regulatory Update 2020/11/13

  • U.S. Securities and Exchange Commission Awards Over US$28 Million to a Whistleblower – Outline of the U.S. Whistleblower Program
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Tenwow International Holdings Limited (In Provisional Liquidation) (Stock Code: 1219)
  • The Hong Kong Exchange and Clearing Limited Introduces Futures and Options on Hang Seng TECH Index
  • The Stock Exchange of Hong Kong Limited Publishes Consultation Conclusions on Corporate Weighted Voting Rights
  • The Stock Exchange of Hong Kong Limited Announces the Cancellation of Listing of Boshiwa International Holding Limited (Provisional Liquidators Appointed) (Stock Code: 1698)
  • Hong Kong Securities and Futures Commission Issues Statement on U.S. Sanctions
  • Zeng Lingxi Pleads Not Guilty to Charges of Obstructing the Hong Kong Securities and Futures Commission’s Search Operation
  • Hong Kong Securities and Futures Commission Reprimands and Fines Credit Suisse (Hong Kong) Limited HK$2.1 million over Breaches of Electronic Trading Requirements
  • Hong Kong Securities and Futures Commission Publicly Censures Ngai Lai Ha and Imposes a Cold-shoulder Order for Breach of the Takeovers Code’s Mandatory General Offer Obligation
  • U.S. Commodity Futures Trading Commission Exempts Additional Singapore Recognized Market Operators from Swap Execution Facility Registration Requirements
  • U.S. Commodity Futures Trading Commission Expands its Part 30 Exemptive Program to Improve Global Market Access for U.S. Customers
  • U.S. Federal Court Orders a Company and its Principal to Pay Over US$900,000 for Digital Asset and Forex Ponzi Scheme
  • U.S. Securities and Exchange Commission Harmonizes and Improves “Patchwork” Exempt Offering Framework
  • U.S. Securities and Exchange Commission Publishes Notice of German Substituted Compliance Application and Proposed Order
  • The Australian Financial Services Royal Commission‘s Reforms Postponed for Six Months Due to the Pandemic
  • Australian Securities and Investments Commission to Further Extend Financial Reporting Deadlines for Listed and Unlisted Entities and Amends ‘No Action’ Position for AGMs
  • Financial Conduct Authority of the United Kingdom Announces Changes to Open Banking Identification Requirements
  • Financial Conduct Authority of the United Kingdom Bans Three Individuals from Working in the Financial Services Industry for Non-Financial Misconduct
  • Monetary Authority of Singapore Steps Up Enforcement Actions Against Market Abuse and Financial Misconduct
  • Bank Indonesia and Monetary Authority of Singapore Extend Bilateral Financial Arrangement
  • Monetary Authority of Singapore Launches Productivity Solutions Grant to Help Small Financial Institutions Adopt Digital Solutions for Data Reporting
  • Singapore Exchange Expands Clearing Relationship with CME Group, Adding Pan-Asia Benchmark Equity Derivatives to Mutual Offset Link
  • Ant Group Co., Ltd. Decides to Suspend its Listing on the Science and Technology Innovation Board
  • Jiangsu Yabaite Technologies Co., Ltd. Commits the Crime of Illegal Disclosure of Important Information
  • Shanghai Stock Exchange Responds to Questions from the Press on Guidelines No.1 on the Application of Securities Trading Rules of the Shanghai Stock Exchange for Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors
  • Shenzhen Stock Exchange Revises and Releases Implementation Rules for QFIIs and RQFIIs to Further Promote High-level Opening-up of the Capital Market
  • The Shanghai Stock Exchange formulates the Three-year Action Plan for Improving the Quality of Companies Listed on the Shanghai Stock Exchange
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Financial Services Regulatory Update 2020/10/30

  • The Stock Exchange of Hong Kong Limited Publishes e-Learning Presentation on Notifiable Transaction Rules Reiterating Guidance on Disclosure of Ultimate Beneficial Owners
  • The Stock Exchange of Hong Kong Limited announces the Cancellation of Listing of Brightoil Petroleum (Holdings) Limited
  • The Stock Exchange of Hong Kong Limited announces the Cancellation of Listing of China Yu Yian Holdings Limited
  • Hong Kong Securities and Futures Commission Reprimands and Fines Goldman Sachs (Asia) L.L.C. US$350 million for Serious Regulatory Failures over 1Malaysia Development Berhad’s Bond Offerings
  • Hong Kong Securities and Futures Commission suspends Sandra Cheung Wing Yi for 12 months
  • Hong Kong Securities and Futures Commission consults on climate-related risks in funds
  • U.S. Commodity Futures Trading Commission Enforcement Division Issues Staff Guidance on Recognition of Self-Reporting, Cooperation, and Remediation
  • U.S. Commodity Futures Trading Commission and the Bank of England Sign New Memorandum of Understanding for Supervision of Cross-Border Clearing Organizations
  • U.S. Commodity Futures Trading Commission Issues Advisory on Virtual Currency for Futures Commission Merchants
  • At Joint Open Meeting, the U.S. Commodity Futures Trading Commission and U.S. Securities and Exchange Commission Approve Final Rule on Security Futures Margin and Request for Comment on Portfolio Margining
  • U.S. Commodity Futures Trading Commission and U.S. Securities and Exchange Commission Chairmen Sign Joint Letter Establishing Pilot Program Relating to “Bad Actor Disqualification” Provisions of Regulations A and D
  • U.S. Securities and Exchange Commission Adopts Modernized Regulatory Framework for Derivatives Use by Registered Funds and Business Development Companies
  • U.S. Securities and Exchange Commission Charges Goldman Sachs with FCPA Violations
  • U.S. Securities and Exchange Commission Obtains Final Judgment Against Kik Interactive For Unregistered Offering
  • Questions & Answers on Guidelines of Shanghai Stock Exchange No. 2 for the Application of Self-Regulation Rules for Listed Companies – Standards for Implementation of Disciplinary Actions for Listed Companies
  • Shenzhen Stock Exchange and China SME Development Fund Co., Ltd Deepen Strategic Cooperation to Jointly Improve the Breadth and Depth of Services for Small and Medium Enterprises
  • Shenzhen Stock Exchange Launches Pilot Program of Credit Protection Certificates to Further Support the Real Economy
  • Shenzhen Stock Exchange Releases ChiNext Market Technology and Pharmaceutical Indices to Enrich Index Investing Tools for ChiNext Market
  • Shenzhen Stock Exchange Strictly Monitors Trading of Convertible Bonds and Warns Investors about Trading Risk
  • Shenzhen Stock Exchanges Releases Lists of Regulation and Service Items to Optimize Regulation, Promote Services and Clarify Expectations
  • Shenzhen-Hong Kong ETF Connect Successfully Opened, Enhancing the Integration of Financial Markets in the Guangdong-Hong Kong-Macao Greater Bay Area
  • Financial Conduct Authority of the United Kingdom Welcomes the Financial Services Bill
  • The Financial Conduct Authority and the Prudential Regulation Authority of the United Kingdom Fine Goldman Sachs International £96.6m for Risk Management Failures in Connection with 1Malaysia Development Berhad
  • Financial Conduct Authority of the United Kingdom Censures Aviva Plc for Listing and Transparency Rules Breach
  • Australian Securities and Investments Commission Released Updated Regulatory Guidance for Share Transfers Using s444GA of the Corporations Act
  • Australian Securities and Investments Commission Restricts Smiles Inclusive Ltd from Issuing a Reduced-content Prospectus
  • Singapore Exchange Welcomes GSUM-Titanland as Accredited Issue Manager
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Financial Services Regulatory Update 2020/10/17

  • Hong Kong Court Declined to Sanction the Scheme of Arrangement in Re Allied Properties (H.K). Ltd [2020] HKCFI 2624
  • The Stock Exchange of Hong Kong Limited announces the Cancellation of Listing of CW Group Holdings Limited
  • Hong Kong Securities and Futures Appeals Tribunal Affirms Hong Kong Securities and Futures Commission’s Decision to Ban Lai Voon Wai for Five Years for IPO Sponsor Failures
  • Hong Kong Securities and Futures Commission Publicly Censures So Yuk Kwan and Imposes a Cold-shoulder Order for Breach of the Code on Takeovers and Mergers
  • Hong Kong Market Misconduct Tribunal Sanctions CMBC Capital Holdings Limited and Its Former Directors for Late Disclosure of Inside Information
  • Hong Kong Securities and Futures Commission Warns of Investment Scams on Social Media
  • U.S. Commodity Futures Trading Commission Charges BitMEX Owners with Illegally Operating a Cryptocurrency Derivatives Trading Platform and Anti-Money Laundering Violations
  • U.S. Federal Court Orders Affiliate Marketer to Pay More Than US$13.8 Million for Binary Options Fraud
  • U.S. Commodity Futures Trading Commission Revokes Registrations of Company and its CEO for Fraud and Related Criminal Conviction
  • U.S. Commodity Futures Trading Commission Orders A Man and His Companies to Pay More Than US$1.2 Million in Forex Trading Scheme
  • U.S. Securities and Exchange Commission Proposes Conditional Exemption for Finders Assisting Small Businesses with Capital Raising
  • U.S. Securities and Exchange Commission Updates Regulatory Framework for Fund of Funds Arrangements
  • U.S. Securities and Exchange Commission Charges John McAfee With Fraudulently Touting ICOs
  • U.S. Securities and Exchange Commission Charges HP Inc. With Disclosure Violations and Control Failures
  • China Securities Regulatory Commission Approves the First Major Asset Reorganization Registration of a Listed Company on ChiNext Board
  • Shenzhen Stock Exchange Launches CNI Blue 100 Index to Assist High-quality Development of Maritime Economy
  • The State Council of the People’s Republic of China Releases the Circular of the State Council on Further Improving the Quality of Listed Companies
  • Australian Securities and Investments Commission and Volkswagen Financial Services Australia Settle Federal Court Proceeding
  • Australian Securities and Investment Commission Urges Australian institutions to Adhere to the ISDA IBOR Fallbacks Protocol and Supplement
  • Financial Conduct Authority of the United Kingdom Publishes Rules That Will Apply at the end of the Transition Period
  • Financial Conduct Authority of the United Kingdom Assists Innovative Companies in Tackling Coronavirus Challenges
  • Financial Conduct Authority of the United Kingdom Urges Unauthorized Land Banking Scheme Victims to Get in Touch to Return Funds
  • Singapore’s First Center of Excellence to Drive Asia-focused Green Finance Research and Talent Development
  • Monetary Authority of Singapore and Financial Industry Extend Support for Individuals and SMEs Who Need More Time to Resume Loan Repayments
  • Singapore Exchange Welcomes the Listing of Phillip SGD Money Market ETF, the First of Its Kind in South East Asia
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Financial Services Regulatory Update 2020/10/02

  • High Court in London Hands Down Judgment in the Financial Conduct Authority’s Insurance Test Case Clarifying Insurance Companies’ Liabilities under Certain Business Interruption Provisions
  • Hong Kong Securities and Futures Commission Launches Consultation on Anti-money Laundering Guidelines
  • Hong Kong Securities and Futures Commission Suspends Mung Wai Sun for nine months
  • Hong Kong Securities and Futures Commission Signs New Memorandum of Understanding with the Insurance Authority
  • Hong Kong Securities and Futures Commission Reprimands and Fines China Everbright Securities HK$2.5 Million
  • Hong Kong Securities and Futures Commission Issues Circular on the Electronic Dissemination of Investment Product Documents
  • U.S. Commodity Futures Trading Commission Charges Precious Metals Dealers in Ongoing US$185 Million Fraud Targeting the Elderly
  • U.S. Commodity Futures Trading Commission Orders Three Citibank Affiliates to Pay US$4.5 Million for Supervision Failures That Led to Deletion of Subpoenaed Audio Recordings
  • U.S. Commodity Futures Trading Commission Fines New York and UK-Based Firms for Net Capital Deficiencies
  • U.S. Securities and Exchange Commission Adopts Amendments to Modernize Shareholder Proposal Rule
  • J.P. Morgan Securities LLC Admits to Manipulative Trading in U.S. Treasuries
  • U.S. Securities and Exchange Commission Charges BMW for Disclosing Inaccurate and Misleading Retail Sales Information to Bond Investors
  • U.S. Securities and Exchange Commission Charges Index Manager and Friend With Insider Trading
  • China Securities Regulatory Commission Implements Classified Review of Listed Companies’ Refinancing
  • China Securities Regulatory Commission, People’s Bank of China and State Administration of Foreign Exchange Release the Measures for the Administration of Domestic Securities and Futures Investment by Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors
  • Shenzhen Stock Exchange Further Strengthens Regulation on Stock Issuance and Underwriting on ChiNext Board to Give Better Play to the Role of the Market-oriented Resource Allocation Mechanism
  • Shenzhen Stock Exchange Signs Strategic Cooperation Framework Agreement with Zhuhai Municipal Government to Serve Zhuhai’s Construction into Important Portal in Guangdong-Hong Kong-Macao Greater Bay Area
  • Shanghai Stock Exchange Responds to Reporters’ Questions on Circular 2, Guideline of the Shanghai Stock Exchange for the Application of the Self-regulatory Rules of Companies Listed on the Science and Technology Innovation Board – Voluntary Information Disclosure
  • China Securities Regulatory Commission Notifies Wu XX and Others of Suspected Insider Trading of Stocks of Wangfujing Group Co., Ltd.
  • Financial Conduct Authority of the United Kingdom Publishes Final Findings of General Insurance Pricing Practices Market Study, Promoting Fair Pricing of General Insurance Products
  • First Firms to Begin Move from Gabriel to the United Kingdom’s New Data Collection Platform, RegData
  • Australian Securities and Investments Commission and International Organization of Securities Commissions Report on Conflicts of Interest Within Debt Capital Raising Process
  • Singapore Exchange (SGX) and National Stock Exchange (NSE) Progress on NSE IFSC-SGX Connect
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Financial Services Regulatory Update 2020/09/18

  • Monetary Authority of Singapore Issues Guidelines to Strengthen Culture of Responsibility and Ethical Behavior in the Financial Industry
  • The Stock Exchange of Hong Kong Limited Announcements the Cancellation of Listing of Hong Kong Life Sciences and Technologies Group Limited
  • Hong Kong Securities and Futures Commission Commences Proceedings Against Tianhe Chemicals Group Limited and Its Executive Director for Defective Prospectus and to Seek Compensation Orders for Investors
  • Changes to the Open-ended Fund Companies Regime Take Effect on 11 September 2020
  • Hong Kong Securities and Futures Commission Bans Fabian Shin Yick for 20 Months over IPO Sponsor Failures
  • Hong Kong Securities and Futures Commission Commences Disciplinary Proceedings Against Ngai Lai Ha for Alleged Breach of Takeovers Code
  • Hong Kong Securities and Futures Commission Reprimands and Fines the Bank of East Asia, Limited $4.2 Million for Regulatory Breaches
  • Victims of New York Ponzi Scheme Recover Over US$1 Billion Following Enforcement Action of the U.S. Commodity Futures Trading Commission
  • U.S. Commodity Futures Trading Commission Charges 4 Men in Fraudulent Digital Asset Scheme
  • U.S. Commodity Futures Trading Commission Issues Guidance on Factors Used in Evaluating Corporate Compliance Programs in Connection with Enforcement Matters
  • U.S. Securities and Exchange Commission Adopts Amendments to Enhance Retail Investor Protections and Modernize the Rule Governing Quotations for Over-the-Counter Securities
  • U.S. Securities and Exchange Commission Modernizes Disclosures for Banking Registrants
  • U.S. Securities and Exchange Commission Charges Film Producer, Rapper, and Others for Participation in Two Fraudulent ICOs
  • U.S. Securities and Exchange Commission Charges Charter School Operator and its Former President With Fraudulent Municipal Bond Offering
  • Shanghai Stock Exchange Vigorously Streamlines and Optimizes the Continuous Regulatory System of Listed Companies
  • Shenzhen Stock Exchange Announces 2019 Appraisal Results of Information Disclosure of Listed Companies and Releases the Revised Measures on the Appraisal of Information Disclosure of Listed Companies
  • Shenzhen Stock Exchange Closely Monitors Trading of Xin Jiang TianShan Animal Husbandry Bio-engineering Co., Ltd and Advises Small and Medium Investors to be Rational
  • Shenzhen Stock Exchange Requires Xin Jiang TianShan Animal Husbandry Bio-engineering Co., Ltd to Suspend Trading Again for Inspection, Striving to Strengthen the Supervision of Speculation on Small-cap Stocks and Under-performing Stocks
  • China Securities Regulatory Commission: Transferring Suspected Securities Crime Cases of Zhangzidao Group Co., Ltd and Its Related Parties to Public Security Organs According to Law
  • Shenzhen Stock Exchange Signs Strategic Cooperation Framework Agreement with Chongqing Municipality to Actively Serve Chongqing in Building an International Financial Center in the Landlocked Area
  • All SGX-listed Issuers Can Hold General Meetings by Electronic Means till June 30, 2021
  • Singapore Exchange Wins “Best Exchange for FX” at FX Markets e-FX Awards 2020
  • Singapore Exchange Welcomes the World’s Largest Chinese Pure Government Bond ETF Issued by CSOP Asset Management
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Financial Services Regulatory Update 2020/09/04

  • The Supreme Court of the United Kingdom Rules in Patent Licensing Cases Involving Unwired, Conversant, Huawei and ZTE
  • Hong Kong Securities and Futures Commission Bans TS’O Jing for Life
  • Hong Kong Securities and Futures Commission Bans Masy Lo Mee Chi for Eight Months
  • Hong Kong Securities and Futures Commission Obtains Arrest Warrants for Alleged Manipulators of Shares of Ching Lee Holdings Limited
  • Hong Kong Securities and Futures Commission Issues Restriction Notice to Freeze Client Accounts Linked to Suspected Market Manipulation of Shenwan Hongyuan Securities (H.K.) Limited
  • Former Licensee Convicted of Providing False or Misleading Information Hong Kong Securities and Futures Commission
  • Hong Kong Securities and Futures Commission Concludes Consultation on Changes to the Open-Ended Fund Companies Regime and Further Consults on Customer Due Diligence Requirements
  • Hong Kong’s Asset and Wealth Management Business Reports Strong Growth in 2019
  • Hong Kong Securities and Futures Commission Authorizes Two Exchange-Traded Funds Listed on the Stock Exchange of Hong Kong under the Cross-Listing Scheme Between Markets in Hong Kong and the Mainland
  • The Stock Exchange of Hong Kong Limited Publishes Consultation Conclusions on Codification of General Waivers and Principles Relating to IPOs and Listed Issuers and Minor Rule Amendments
  • The Stock Exchange of Hong Kong Limited Publishes Chapter 37 Consultation Conclusions and Guidance on Disclosures in Listing Documents and Continuing Obligations under Chapter 37 of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited
  • The Listing Committee of The Stock Exchange of Hong Kong Limited Censures Sanai Health Industry Group Company Limited (Stock Code: 1889) and Criticizes a Number of Its Former and Current Directors for Breaching the Listing Rules and/or the Director’s Undertaking
  • Shenzhen Stock Exchange Issues the Administration Measures for Risk Classification of Listed Companies to Advance Classified, Targeted and Technology-based Regulation
  • The Spokesperson of the Shenzhen Stock Exchange Answers Reporters’ Questions on the Reform of the ChiNext Board and the Registration-Based IPO System
  • China Securities Regulatory Commission Issues the No. 6 Guidelines for the Supervision of Non-listed Public Companies-Regulatory Requirements for Equity Incentives and Employee Stock Ownership Plans (Trial)
  • Singapore Exchange and GF Securities Corporation to Promote Greater Connectivity Between Singapore and China’s Capital Markets
  • Singapore Exchange, in Collaboration with HSBC Singapore and Temasek, Completes Pilot Digital Bond for Olam International
  • SGX Index Edge to Launch Crypto Indices in Collaboration with CryptoCompare
  • Australian Securities Investments Commission Provides Relief for Companies Planning an Initial Public Offering
  • Wirecard Card Solutions Limited Has Announced That It Is Winding-down Its FCA-regulated Business
  • Monetary Authority of Singapore Enhances Access to Liquidity Facilities to Strengthen Banking Sector Resilience
  • U.S. Commodity Futures Trading Commission Charges 5 Canadians, 1 American, and 4 Companies in US$165 Million Global Binary Options Fraud Scheme
  • U.S. Commodity Futures Trading Commission Orders Toronto-Based Firm to Pay US$500,000 for Violating Capital, Reporting, and Supervision Rules
  • U.S. Securities and Exchange Commission Adopts Rule Amendments to Modernize Disclosures of Business, Legal Proceedings, and Risk Factors Under Regulation S-K
  • U.S. Securities and Exchange Commission Modernizes the Accredited Investor Definition
  • U.S. Securities and Exchange Commission Charges Herbalife With FCPA Violations
FS_Regulatory_Update_JML_20200904

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