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
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Financial Services Regulatory Update 2020/08/21

  • The Stock Exchange of Hong Kong Limited Issues Consultation Paper on Review of Listing Rules relating to Disciplinary Powers and Sanctions
  • The Stock Exchange of Hong Kong Limited Issues Consultation Conclusions on Review of Chapter 37 (Debt Issues to Professional Investors Only) and Guidance on Disclosures in Listing Documents and Continuing Obligations under Chapter 37 (Debt Issues to Professional Investors Only)
  • Hong Kong Exchanges and Clearing Limited Launches New Products and Microstructure Enhancements to Its MSCI Index Derivatives Suite
  • Hong Kong Securities and Futures Commission Issues Quarterly Report
  • Hong Kong Securities and Futures Commission Statement on Sanctions Imposed by the U.S. Government
  • Hong Kong Securities and Futures Commission Issues Restriction Notices to Two Brokers to Freeze Client Accounts Linked to Suspected Market Manipulation
  • Hong Kong Securities and Futures Commission Issues Statement on Next Digital Limited
  • Hong Kong Securities and Futures Commission Commences Criminal Prosecution on Market Manipulation of Shares of Ching Lee Holdings Limited
  • U.S. Commodity Futures Trading Commission Unanimously Approves Proposals Amending Margin Requirements for Swap Dealers and Major Swap Participants
  • U.S. Commodity Futures Trading Commission Orders The Bank of Nova Scotia to Pay US$127.4 Million for Spoofing, False Statements, Compliance and Supervision Violations
  • U.S. Commodity Futures Trading Commission Orders Interactive Brokers LLC to Pay More Than US$12 Million for Anti-Money Laundering and Supervision Violations
  • U.S. Securities and Exchange Commission Charges Issuer and CEO With Misrepresenting Platform Technology in Fraudulent ICO
  • U.S. Securities and Exchange Commission Charges Hertz’s Former CEO With Aiding and Abetting Company’s Financial Reporting and Disclosure Violations
  • U.S. Securities and Exchange Commission Adopts Requirements to Ensure Public Notice, Comment, and Approval Prior to Effectiveness of NMS Plan Fees
  • Singapore Exchange Significantly Expands All-Asia Waterfront for Equity Derivatives
  • Australian Securities and Investments Commission Manages Transition to New Regulatory Regime for Litigation Funding Schemes
  • The Supreme People’s Court of the People’s Republic of China issues the Opinions on Providing Judicial Safeguard to the Reform of the ChiNext Board and the Pilot Project of the Registration-based IPO System
  • Officials from Relevant Departments of the China Securities Regulatory Commission Answered Reporter Questions regarding the “Report on Protecting United States Investors from Significant Risks from Chinese Companies” by the U.S. President’s Working Group on Financial Markets
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Financial Services Regulatory Update 2020/08/07

  • The Stock Exchange of Hong Kong Limited Invites Feedback on Proposals to Introduce a Paperless Listing & Subscription Regime, Online Display of Documents and Reduction of the Types of Documents on Display
  • Hong Kong Eastern Magistrates’ Court Convicts and Fines Brilliance Capital Management Limited and Its Director for Unlicensed Activities
  • U.S. Commodity Futures Trading Commission Charges NYMEX and Two Former Employees for Disclosing Material Non-Public Information
  • U.S. Securities and Exchange Commission Charges Affiliated Advisers for Misrepresentations About Payment for Order Flow Arrangements
  • Pharmaceutical Company and Former Executives Charged with Misleading Financial Disclosures
  • U.S. Securities and Exchange Commission Charges VALIC Financial Advisors with Failing to Disclose Payments to Promote Services to Florida Educators
  • U.S. Securities and Exchange Commission Charges Trustify Inc. and Founder in US$18.5 Million Offering Fraud
  • U.S. Securities and Exchange Commission Charges Former Georgia State Legislator with Defrauding Investors in Ponzi Scheme
  • U.S. Securities and Exchange Commission Charges CEO and Company with Investors Out of Millions
  • U.S. Securities and Exchange Commission Adopts Final Rule on the Orderly Liquidation of Covered Broker-Dealers under Title II of the Dodd-Frank Act
  • China Securities Regulatory Commission Intends to Impose Administrative Penalties on Ucar Inc. and Beijing Qwom Digital Technology Co., Ltd. for Violation of Information Disclosure
  • China Securities Regulatory Commission Issues the Opinions on the Application of Articles 28 and 45 of the Administrative Measures for the Material Assets Reorganization of Listed Companies – No.15 Opinions on the Application of Securities and Futures Laws and Guidelines on the Application of Regulatory Rules – No. 1 Listing Class
  • The Supreme People’s Court of the People’s Republic of China issues the Provisions on Several Issues Concerning Representative Litigation in Securities Disputes
  • Shenzhen Stock Exchange Releases the Notice on Corporate Bond Swap Business to Promote the Building of a Market-oriented, Rule-of-law-based Debt Management System
  • Financial Conduct Authority of the United Kingdom Launches Enhanced Financial Services Register to Protect Consumers
  • Financial Conduct Authority of the United Kingdom Consults on New Rules to Improve Open-ended Property Fund Structures
  • Singapore Exchange Pioneers Asia’s First International REIT Futures
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Financial Services Regulatory Update 2020/07/24

  • Hong Kong Court Reiterates Bases to Assist PRC Liquidators in Dealing with Hong Kong Assets – Re Shenzhen Everich Supply Chain Co Ltd [2020] HKCFI 965
  • Hong Kong Securities and Futures Commission Issues Policy Statement Relating to National Security Law
  • Hong Kong Exchanges and Clearing Limited Launches Master Special Segregated Account Service
  • OTC Clearing Hong Kong Limited Launches Clearing Services for HONIA-Based Interest Rate Products
  • The Government of Hong Kong Special Administrative Region welcomes passage of Limited Partnership Fund Bill
  • Financial Conduct Authority of the United Kingdom Seeks Views on Extending the Implementation Deadlines for the Certification Regime and Conduct Rules
  • Monetary Authority of Singapore Proposes New Powers to Enhance Effectiveness in Addressing Financial Sector-Wide Risks
  • The European Securities and Markets Authority Promotes Consistent Application of Prospectus Disclosure Requirements
  • Singapore Exchange Regulation and Nasdaq Announce Regulatory Cooperation to Help Companies Access Capital in Both Jurisdictions
  • The Supreme People’s Court of China Issues the “Minutes of the Forum on the Trial of Bond Disputes by Courts”
  • China Securities Regulatory Commission issues the “No.5 Guidelines for the Supervision of Non-listed Public Companies—Guidelines for the Continuous Supervision of Selected Listed Companies (Trial)” and Five Listed Company Periodic Report Format Guidelines
  • The China Securities Regulatory Commission Takes Over New Times Securities Co., Ltd., Guosheng Securities Co., Ltd., and Guosheng Futures Co., Ltd.
  • China Securities Regulatory Commission Issues the Guidelines on the Side Pocket Mechanism for Publicly Offered Securities Investment Funds (Trial) to Further Enhance the Risk Prevention and Control Capabilities of Publicly Offered Funds
  • Commodity Futures Trading Commission Invalidates Commodity Pool Operator Registration Exemptions for 17 Foreign Entities
  • Commodity Futures Trading Commission Sanctions Two Firms Offering Digital Asset-Based Swaps for Illegal Off-Exchange Trading and Registration Violations
  • Commodity Futures Trading Commission Approves Final Swap Dealer Capital Rule at July 22 Open Meeting and Completes All Required Rule-makings Under Section 731 of the Dodd-Frank Act
  • U.S. Securities and Exchange Commission Adopts Rule Amendments to Provide Investors Using Proxy Voting Advice More Transparent, Accurate and Complete Information
  • U.S. Securities and Exchange Commission Charges Wind Turbine Company and Individuals with Defrauding Investors
  • U.S. Securities and Exchange Commission Files Fraud Charges Against Co-Founder of IIG
  • U.S. Securities and Exchange Commission Charges Financial Advisor with Fraud for Stealing Millions from Investors
  • UBS to Pay US$10 Million for Violating Rules Which Give Priority to Retail Investors in Municipal Offerings
  • U.S. Securities and Exchange Commission Charges Silicon Valley Start-Up and CEO With Defrauding Investors
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Financial Services Regulatory Update 2020/07/10

  • Hong Kong Securities and Futures Commission Publishes Issue No.53 Takeovers Bulletin
  • Hong Kong Securities and Futures Commission Commences False Trading Prosecution Against Retail Investor
  • Hong Kong Securities and Futures Commission Bans Lai Wing Fat for 20 Months for Breaches of the Code of Conduct
  • Hong Kong Securities and Futures Commission Publishes Review of The Stock Exchange of Hong Kong Limited’s Performance in Regulating Listing Matters
  • Hong Kong Securities and Futures Commission Publishes Annual Report 2019-20
  • The Listing Committee of The Stock Exchange of Hong Kong Limited Censures State Energy Group International Assets Holdings Limited (Stock Code: 918) and Mr Zhou Xin Yu for breaching the Listing Rules and/or the Director’s Undertaking
  • The People’s Bank of China, the Hong Kong Monetary Authority, and the Monetary Authority of Macao Issued Joint Announcement on the Launch of the Cross-boundary Wealth Management Connect Pilot Scheme in the Guangdong-Hong Kong-Macao Greater Bay Area
  • Hong Kong Competition Commission Publishes Policy on Recommended Pecuniary Penalties for Anti-Competitive Conduct
  • Hong Kong Competition Tribunal Hands Down its First Judgment on Pecuniary Penalties Against Ten Construction and Engineering Companies in a Cartel Case
  • Hong Kong Eastern Magistrates’ Court Convicts and Fines Former Officer of Wonderful Wealth Group Limited for Unlicensed Activities
  • Shenzhen Stock Exchange Publishes Listed Companies Non-compliance Punishment Standards to Promote ChiNext Reform and Pilot Registration-based IPO System
  • Shanghai Stock Exchange Releases Relevant Rules for Refinancing on SSE STAR Market
  • Shanghai Stock Exchange Releases Detailed Implementation Rules for Shareholders of Companies Listed on SSE STAR Market to Reduce Shareholding through Inquiry Transfer and Placement to Specific Institutional Investors
  • U.S. Securities and Exchange Commission Charges Telegram to Return US$1.2 Billion to Investors and Pay US$18.5 Million Penalty
  • U.S. Securities and Exchange Commission Updates Filing Threshold to Rule 17h Reporting Requirements for Broker-Dealers
  • U.S. Securities and Exchange Commission Amends Exemptive Applications Procedures
  • A Joint Investigation into Citadelle and Senjo Launched by Commercial Affairs Department of Singapore Police Force and Monetary Authority of Singapore Following Review of Developments Relating to Wirecard
  • Australian Securities and Investments Commission Issues No-action Position to Allow Right-of-use Lease Assets to Count in Satisfying AFS Licensee Requirements
  • The Climate Financial Risk Forum Publishes Guide to Help the Financial Industry Address Climate-related Financial Risks
  • Financial Conduct Authority of the United Kingdom Confirms Further Support for Consumer Credit Customers
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Financial Services Regulatory Update 2020/06/26

  • Hong Kong Securities and Futures Commission Publicly Criticizes CICC Financial Trading Limited and China International Capital Corporation Limited for Breaches of Takeovers Code
  • Hong Kong Securities and Futures Commission Reprimands and Fines Guotai Junan Securities (Hong Kong) Limited HK$25.2 million for Breaches Relating to Anti-Money Laundering and Other Regulatory Requirements
  • Hong Kong Securities and Futures Commission Bans Former Responsible Officer of Guosen Securities (HK) Brokerage Company, Limited for 12 Months for Failure to Discharge Duties as A Responsible Office and Senior Management Member
  • Hong Kong Exchanges and Clearing Limited to Launch New Sustainable and Green Exchange
  • U.S. Financial Regulators Modify Volcker Rule
  • U.S. Securities and Exchange Commission Charges Insurance Company and Former CFO With Faulty Loss Reserves Disclosures
  • U.S. Securities and Exchange Commission Emergency Action Halts Cryptocurrency Offering Fraud
  • U.S. Securities and Exchange Commission Charges Issuer, CEO, and Lobbyist with Defrauding Investors in AML BitCoin
  • Lenders Win Cayman Islands Court Order Seeking to Wind Down Entities Controlled by the Family of Luckin Coffee Inc. Chairman Lu Zhengyao
  • China Securities Regulatory Commission Releases Arrangements for the Reform of the ChiNext Board and the Pilot Project of the Registration-Based IPO System
  • Shenzhen Stock Exchange Optimizes the System of Continuous Regulatory Rules for the ChiNext Board
  • Shenzhen Stock Exchange News Spokesman Answers Questions from Reporters on Official Announcement of Supporting Business Rules for the Reform of the ChiNext Board and the Pilot Project of the Registration-based IPO System
  • Shenzhen Stock Exchange Releases the Integrated and Revised Business Guides for Listed Companies
  • Shanghai Stock Exchange Announces Methodology of SSE Composite Index to be Revised
  • Shanghai Stock Exchange Announces STAR 50 Index to be Launched
  • Monetary Authority of Singapore Consults on its Proposed Environmental Risk Management Guidelines for Financial Institutions
  • Financial Conduct Authority of the United Kingdom Reminds Crypto-asset Businesses to Register Before the End of June
  • Financial Conduct Authority of the United Kingdom Announces Proposals to Make Mini-bond Marketing Ban Permanent
  • Australian Securities and Investments Commission Releases Guidance on the Administration of Product Intervention Power
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Financial Services Regulatory Update 2020/06/12

  • Hong Kong Securities and Futures Commission Proposes Changes to The Code on Real Estate Investment Trusts
  • Hong Kong Securities and Futures Commission Concludes Consultation on Regulatory Scope and Competence Requirements of OTC Derivatives Licensing Regime
  • Hong Kong Securities and Futures Commission Bans Kwok Chau Mo for Nine Months for Circumventing Internal Control Policies
  • Hong Kong Court Convicts and Fines Former Director and Shareholder of Wonderful Wealth Group Limited for Unlicensed Activities
  • Hong Kong Securities and Futures Commission Reprimands and Fines Potomac Capital Limited HK$800,000 for Breaching Financial Resources Rules
  • Hong Kong Securities and Futures Commission Publicly Censures Fu Kwan for Breach of the Takeovers Code
  • U.S. Securities and Exchange Commission Awards Nearly US$50 Million to Whistleblower
  • U.S. Securities and Exchange Commission Charges Microcap Fraud Scheme Participants Attempting to Capitalize on the COVID-19 Pandemic
  • U.S. Securities and Exchange Commission Charges California Trader Engaged in Manipulative Trading Scheme Involving COVID-19 Claims
  • U.S. Commodity Futures Trading Commission Unanimously Approves Final Rule Amendments to Registration and Compliance Requirements for Commodity Pool Operators and Commodity Trading Advisors
  • Shanghai Stock Exchange Further Improves First-day Trading Mechanism for Re-listing of Delisted Stocks
  • Shanghai Stock Exchange Releases Notice on Matters Concerning Red-chip Companies Applying for Issuance and Listing on SSE STAR Market
  • Shenzhen Stock Exchange Spokesperson Answers Questions from Reporters on Transitional Arrangements for Review of the Reform of the ChiNext Board and the Pilot Project of the Registration-based IPO System
  • Shenzhen Stock Exchange Issues Information Disclosure Guidelines on Transactions and Related Party Transactions
  • The Response of Monetary Authority of Singapore to Queries on Fund Flows
  • Financial Conduct Authority of the United Kingdom Confirms Guidance for Insurance Firms to Consider the Impact of Covid-19 on Insurance Products Value
  • Singapore Exchange Announces Launch of Singapore Single Stock Futures and Signs MSCI Singapore License Agreement
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Financial Services Regulatory Update 2020/05/29

  • Hong Kong Exchanges and Clearing Limited to Introduce New Initiatives to Enhance Liquidity of ETPs
  • Hong Kong Securities and Futures Commission Reprimands and Fines Southwest Securities (HK) Brokerage Limited HK$5 Million for Breaches of Anti-Money Laundering Regulatory Requirements
  • Hong Kong Securities and Futures Commission Reprimands and Fines Convoy Asset Management Limited HK$6.4 million For Regulatory Breaches Over Bond Recommendation
  • Hong Kong Securities and Futures Commission Seeks Court Order to Wind Up Combest Holdings Limited
  • Hong Kong Securities and Futures Commission Welcomes Re-appointment of Chief Executive Officer
  • Hong Kong Exchanges and Clearing Limited Signs Agreement with MSCI to License Indexes to Launch Asia and Emerging Markets Futures and Options Contracts
  • The Hong Kong Monetary Authority Releases Report on Fintech Adoption and Innovation in the Hong Kong Banking Industry
  • U.S. Securities and Exchange Commission Orders Credit Rating Agency to Pay US$3.5 Million for Conflicts of Interest Violations
  • U.S. Securities and Exchange Commission Adopts Amendments to the CAT NMS Plan to Improve Transparency and Financial Accountability
  • U.S. Securities and Exchange Commission Awards Over US$27 Million to Whistleblower
  • U.S. Securities and Exchange Commission Adopts Amendments to Improve Financial Disclosures about Acquisitions and Dispositions of Businesses
  • U.S. Commodity Futures Trading Commission Issues COVID-19 Customer Advisory on Commodity Exchange-Traded Products and Funds
  • Shanghai Stock Exchange Issues Notice of Matters Concerning Launching Pilot Program for Public Issuance of Short-Term Corporate Bonds
  • China Securities Regulatory Commission Approves Very Low-sulfur Fuel Oil Futures Trading
  • Financial Conduct Authority of the United Kingdom Announces Proposals to Continue Support for Customers Struggling to Pay the Mortgage due to Coronavirus (Covid-19)
  • Financial Conduct Authority of the United Kingdom Launches Consultation on Additional Guidance for Payments Firms to Strengthen Their Way of Looking After Customers’ Money
  • Monetary Authority of Singapore Launches New S$6 Million Grant Scheme to Support Singapore FinTech Firms
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Financial Services Regulatory Update 2020/05/15

  • Hong Kong Securities and Futures Commission Reprimands and Fines Mega International Commercial Bank Co., Ltd. HK$7 Million for Regulatory Breaches over CIS Sale
  • Hong Kong Securities and Futures Commission Obtains Disqualification Orders against Former Directors of EganaGoldpfeil (Holdings) Ltd
  • Hong Kong Securities and Futures Commission Obtains Court Order against Shandong Molong Petroleum Machinery Company Limited
  • The Listing Committee of The Stock Exchange of Hong Kong Limited Censures Mr Zhang Yun, Former Executive Director of Kiu Hung International Holdings Limited (Stock Code 381), for Failure to Comply with A Direction on Training and the Listing Rules
  • The Listing Committee of The Stock Exchange of Hong Kong Limited Censures Kong Sun Holdings Limited (Stock Code: 295) and Seven of its Current and Former Directors for Breaching the Listing Rules and the Director’s Undertaking
  • The Hong Kong Competition Commission Reminds Businesses Participating in Anti-epidemic Subsidy Programs to Adhere to the Competition Ordinance
  • The Hong Kong Insurance Authority Grants Authorization under Fast Track to the Fourth Virtual Insurer
  • The Hong Kong Monetary Authority and the Hong Kong Securities and Futures Commission Initiates the Establishment of the Green and Sustainable Finance Cross-Agency Steering Group
  • U.S. Securities and Exchange Commission Charges Companies and CEO for Misleading COVID-19 Claims
  • U.S. Securities and Exchange Commission Charges Bloomberg Tradebook for Order Routing Misrepresentations
  • U.S. Securities and Exchange Commission Charges Morgan Stanley Smith Barney with Providing Misleading Information to Retail Clients
  • U.S. Commodity Futures Trading Commission Orders Trader and his Firm for Wash Sales
  • U.S. Commodity Futures Trading Commission Files Charges in US$20 Million International Binary Options and Digital Asset Fraud Scheme
  • Shanghai Stock Exchange STAR Companies Release Annual Reports with Highlights
  • Shenzhen Stock Exchange’s Press Conference on the Publication of the Business Rules for Reform of the ChiNext Board and Piloting the Registration-based System
  • Shenzhen Stock Exchange Advances the Pilot Project for Publicly Offered REITs with All-out Efforts
  • Shenzhen Stock Exchange Releases Five Themed Stock Indexes with Characteristics Including Public Health and Yangtze River 100
  • Australian Securities and Investments Commission Warns Consumers: Investment Advertising Is Not Always ‘True to Label’
  • Australian Securities and Investments Commission Defers Commencement of Mortgage Broker Reforms and Design and Distribution Obligations
  • The Financial Services Regulatory Initiatives Forum of the United Kingdom Launches the Grid to Help Financial Firms’ Planning
  • The Monetary Authority of Singapore Introduces Temporary Measures to Allow Electronic Dissemination of Rights Issue and Take-over Documents

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Financial Services Regulatory Update 2020/05/01

  • Hong Kong Securities and Futures Commission Cautions on Crude Oil Futures and ETFs
  • Hong Kong Securities and Futures Commission’s Regulatory Response to COVID-19
  • Hong Kong Securities and Futures Commission Issues Circular to Licensed Corporations on Management of Cybersecurity Risks Associated with Remote Office Arrangements
  • Hong Kong Securities and Futures Commission Reprimands and Fines BOCOM International Securities HK$19.6 Million for Internal Control Failures
  • Hong Kong Securities and Futures Commission Obtains Disqualification Orders against Former Directors of Long Success International (Holdings) Limited
  • Hong Kong Court Sentenced Unlicensed Fund Manager to Community Service
  • Hong Kong Securities and Futures Commission Updates Frequently Asked Questions Relating to Real Estate Investment Trusts
  • Hong Kong Securities and Futures Commission Signs Memorandum of Understanding with Hong Kong Competition Commission
  • The Listing Committee of The Stock Exchange of Hong Kong Limited Criticizes China Ding Yi Feng Holdings Limited (Stock Code: 612), and Censures or Criticizes a Number of Its Former and Current Directors for Breaching the Listing Rules and/or the Director’s Undertaking
  • The Listing Committee of The Stock Exchange of Hong Kong Limited Censures or Criticizes a Number of Former Directors of Champion Technology Holdings Limited (Stock Code: 92) and/or Kantone Holdings Limited (Stock Code: 1059) For Breaching the Listing Rules
  • Hong Kong Exchanges and Clearing Limited Extends Consultation Period for Consultation Paper on Corporate WVR Beneficiaries
  • Hong Kong Exchanges and Clearing Limited to Implement Volatility Control Mechanism First Phase Enhancements on May 11, 2020
  • Officials from Relevant Departments of China Securities Regulatory Commission Answer Questions Regarding Luckin Coffee’s Accounting and Reporting Improprieties
  • U.S. Securities and Exchange Commission Orders Three Self-Reporting Advisory Firms to Reimburse Investors as Part of its Share Class Selection Disclosure Initiative to More Than US$139 Million
  • U.S. Securities and Exchange Commission Files Charges Against Praxsyn Corp. and its CEO for COVID-19 Scam
  • New York Federal Court Orders Defendants to Pay More Than US$595,000 for Forex Solicitation Fraud and Misappropriation
  • Financial Conduct Authority of the United Kingdom Publishes Payment Protection Insurance (PPI) Complaints Deadline Final Report
  • Financial Conduct Authority of the United Kingdom Commences Civil Proceedings Against 24HR Trading Academy Ltd in Relation to Alleged Unauthorized Investment Advisers
  • Australian Securities and Investments Commission Reports on Corporate Finance Regulation – July to December 2019
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Financial Services Regulatory Update 2020/04/17

  • Hong Kong Securities and Futures Commission Publishes Issue No.52 Takeovers Bulletin
  • Hong Kong Securities and Futures Commission Issues Restriction Notice to Agg. Asset Management Limited
  • Hong Kong Securities and Futures Commission and The Stock Exchange of Hong Kong Limited (the Exchange) Issued Joint Statement in relation to Results Announcements in light of Travel Restrictions related to the Severe Respiratory Disease associated with a Novel Infectious Agent
  • Hong Kong Securities and Futures Commission Reprimands and Fines HSBC Investment Funds (Hong Kong) Limited and HSBC Global Asset Management (Hong Kong) Limited HK$3.5 million for Regulatory Breaches Over Funds’ Cash Management
  • Hong Kong Securities and Futures Commission, Hong Kong Exchanges and Clearing Limited and the Federation of Share Registrars Limited Release Joint Consultation Conclusions on the Model for an Uncertificated Securities Market
  • Hong Kong Securities and Futures Commission Scrutinizes Leveraged Foreign Exchange Trading
  • Notice Issued under Section 2 of Schedule 2 of the Hong Kong Competition Ordinance regarding the Competition Commission of Hong Kong’s Proposal to Accept Commitments in Online Travel Agents Case
  • China Securities Regulatory Commission Pays Close Attention to Luckin Coffee Inc.’s Financial Fraud
  • U.S. Securities and Exchange Commission’s Office of Compliance Inspections and Examinations Publishes Risk Alerts Providing Advance Information Regarding Inspections for Compliance with Regulation Best Interest and Form CRS
  • U.S. Securities and Exchange Commission Adopts Offering Reforms for Business Development Companies and Registered Closed-End Funds
  • U.S. Securities and Exchange Commission Provides Temporary and Conditional Relief for Business Development Companies Making Investments in Small and Medium-sized Businesses
  • U.S. Securities and Exchange Commission Enhances Standards for Critical Market Infrastructure
  • Shenzhen Stock Exchange Refines Arrangements on Postponement of Disclosure of Annual Reports
  • Shanghai Stock Exchange Implements Arrangements for Extending Disclosure of Annual Reports to Strengthen and Enhance All-round Service for Listed Companies
  • Shenzhen Stock Exchange Signs Memorandum of Understanding with Bursa Malaysia to Further Explore Areas and Channels of Cross-border Collaboration
  • U.S. Commodity Futures Trading Commission Charges Florida Man and His Companies in Fraudulent Forex and Digital Asset Scheme
  • The Monetary Authority of Singapore Takes Regulatory and Supervisory Measures to Help Financial Institutions Focus on Supporting Customers
  • Australian Securities and Investments Commission Updates Guidance on Internal Market Making
  • Details of Changes to Australian Securities and Investments Commission Regulatory Work and Priorities in Light of COVID-19
  • The European Commission Provides “Temporary Framework Communication” to Guide on Allowing Limited Cooperation Among Businesses in Response to Urgent Situations Related to Current Coronavirus Outbreak

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