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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Financial Services Regulatory Update 2020/04/03

  • Hong Kong Market Misconduct Tribunal Finds Magic Holdings International Limited and Its Directors Culpable of Late Disclosure of Inside Information
  • Hong Kong Securities and Futures Commission Issues Guidance to Fund Industry Amidst COVID-19 Outbreak
  • Hong Kong Securities and Futures Commission Extends Three Deadlines for Implementation of Regulatory Expectations and Issues Reminder of Order Recording Requirements under COVID-19 Pandemic
  • The Hong Kong Monetary Authority and Hong Kong Securities and Futures Commission Issues Consultation on Annual Update to the List of Financial Services Providers under the OTC Derivatives Regulatory Regime
  • The Hong Kong Monetary Authority Publishes A Study of the Impact of Future Initial Public Offerings on Hong Kong Inter-bank Offered Rate
  • Hong Kong Securities and Futures Commission Sanctions China Rise Securities Asset Management Company Limited’s Former Responsible Officers
  • Hong Kong Securities and Futures Commission Bans Mo Shau Wah for Life
  • Hong Kong Exchanges and Clearing Limited Welcomes Its First Listing of Iron Ore Futures ETF
  • Survey Conducted by Hong Kong Exchanges and Clearing Limited Finds Significant Growth in Hong Kong Derivatives Market
  • U.S. Commodity Futures Trading Commission Issues Final Interpretive Guidance on Actual Delivery for Digital Assets
  • U.S. Securities and Exchange Commission Charges Unregistered Penny Stock Dealer
  • U.S. Securities and Exchange Commission Provides Conditional Regulatory Relief for Registered Transfer Agents and Certain Other Persons Affected by the Coronavirus Disease 2019 (COVID-19)
  • U.S. Securities and Exchange Commission Provides Temporary Flexibility to Registered Investment Companies Affected by Coronavirus Disease 2019 (COVID-19) with Permission to Use Additional Funding and Other Tools to Manage Portfolios for the Benefit of Investors
  • U.S. Securities and Exchange Commission Extends Conditional Exemptions from Reporting and Proxy Delivery Requirements for Public Companies, Funds, and Investment Advisers Affected by Coronavirus Disease 2019 (COVID-19)
  • U.S. Securities and Exchange Commission Provides Additional Temporary Regulatory Relief in Terms of Filing Obligations to Market Participants Affected by Coronavirus Disease 2019 (COVID-19)
  • China Securities Regulatory Commission Presents Confidence in the Continuing Reform and Opening-up of Chinese Capital Market
  • Shanghai Stock Exchange Issues Interim Provisions on Application and Recommendation of Enterprises for Issuance and Listing on STAR Market
  • Shenzhen Stock Exchange Stresses the Responsibilities of Intermediaries in Sustaining a Favorable Ecosystem of Bond Market
  • The European Commission Prolongs the Validity of Block Exemption for Liner Shipping Consortia to April 25, 2024
  • The European Commission Amends Short-term Export-credit Insurance Communication in Light of Economic Impact of Coronavirus Outbreak
  • Australian Securities and Investments Commission Facilitating Capital Raisings to Assist Companies Need to Raise Funds from Investors Urgently during COVID-19 Period
  • Comments by Monetary Authority of Singapore on Covid-19 (Temporary Measures) Bill
  • The Competition Commission of Hong Kong Takes Textbook Cartel Case to the Hong Kong Competition Tribunal
  • The Competition Commission of Hong Kong Issues Statement Regarding the COVID-19 Outbreak
  • The Privacy Commissioner of Hong Kong issues COVID-19 Pandemic Guidelines for Employers and Employees
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Financial Services Regulatory Update 2020/03/20

  • Hong Kong Securities and Futures Commission and The Stock Exchange of Hong Kong Limited Issue Further Guidance on the Joint Statement in relation to Results Announcements in light of the COVID-19 Pandemic
  • Hong Kong Exchanges and Clearing Limited Enhances Stock Connect with Planned Launch of Master Special Segregated Account Service for Fund Managers
  • The Stock Exchange of Hong Kong Limited Publishes Its Latest Listing Committee Report
  • The Stock Exchange of Hong Kong Limited Launches E-Training and Publishes Guidance Materials on ESG Reporting
  • The Listing Committee of The Stock Exchange of Hong Kong Limited Censures Great Wall Belt & Road Holdings Limited (Stock Code: 524) for Breaching the Listing Rules
  • Hong Kong Securities and Futures Commission Bans Chan Tan Lo for 14 Months
  • The Hong Kong Monetary Authority Announces Countercyclical Capital Buffer for Hong Kong
  • The Hong Kong Office of the Privacy Commissioner for Personal Data Responds to Media Enquiries about Cathay Pacific Being Fined £500,000 by UK Information Commissioner’s Office
  • U.S. Securities and Exchange Commission Adopts Investor Disclosure Improvements for Variable Annuities and Variable Life Insurance Contracts
  • U.S. Securities and Exchange Commission Adopts Amendments to Reduce Unnecessary Burdens on Smaller Issuers by More Appropriately Tailoring the Accelerated and Large Accelerated Filer Definitions
  • U.S. Securities and Exchange Commission Charges Russian National for Defrauding Investors of Over US$26 Million in Phony Certificates of Deposit Scam
  • China Securities Regulatory Commission Further Relaxes Policies to Facilitate Exit by Venture Capital Fund Shareholders
  • First Batch of Credit Protection Contract Business for Corporate Bonds for Epidemic Prevention and Control Successfully Launched on Shenzhen Stock Exchange
  • Shenzhen Stock Exchange Improves Bond Amortization Method to Promote Coordinated Development of the Bond Market
  • Shanghai Stock Exchange Publishes Q & A on Implementing Registration-based System for Public Issuance of Corporate Bonds
  • Australian Securities and Investments Commission Releases New Regulatory Framework for Foreign Financial Services Providers Providing Financial Services to Australian Wholesale Clients
  • Australian Securities and Investments Commission Directs Large Equity Market Participants under the ASIC Market Integrity Rules to Limit the Number of Trades Executed Each Day Until Further Notice to Ensure Equity Market Resiliency
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Financial Services Regulatory Update 2020/03/06

  • The Stock Exchange of Hong Kong Limited Updates and Streamlines its Guidance Materials
  • The Stock Exchange of Hong Kong Limited Publishes Frequently Asked Questions on the Joint Statement in Relation to Results Announcements in Light of Travel Restrictions Related to the Severe Respiratory Disease Associated with a Novel Infectious Agent (Joint Statement)
  • Hong Kong Securities and Futures Commission Issues Quarterly Report
  • The Listing Committee of the Stock Exchange of Hong Kong Limited Censures Yorkshine Holdings Limited (Previous Stock Code: 1048) for Failing to Seek Auditor’s Agreement Prior to the Publication of Preliminary Announcement of Annual Results and for Failing to Comply with the Relevant Requirements for Disclosable and/or Continuing Connected Transactions, and Censures or Criticizes a Number of Its Former Directors for Breaching the Listing Rules and/or the Director’s Undertaking
  • HKMC Insurance Limited Introduces Special 100% Loan Guarantee Under the SME Financing Guarantee Scheme
  • U.S. Securities and Exchange Commission Charges Wells Fargo US$500 Million for Misleading Investors About the Success of Its Largest Business Unit
  • U.S. Securities and Exchange Commission Charges Wells Fargo in Connection with Investment Recommendation Practices
  • U.S. Securities and Exchange Commission Charges Cardinal Health with Foreign Corrupt Practices Act Violations
  • U.S. Securities and Exchange Commission Amends Exemptions from Investment Adviser Registration for Advisers to Rural Business Investment Companies
  • U.S. Securities and Exchange Commission Amends Financial Disclosure Requirements Applicable to Registered Debt Offerings that Include Credit Enhancements to Improve Disclosure Quality and Encourage Issuers to Conduct Debt Offerings on a Registered Basis
  • Shenzhen Stock Exchange Revises the Guidelines for the Standard Operation of Listed Companies to Seamlessly Align with the New PRC Securities Law
  • Shenzhen Stock Exchange Issues Notice on the Corporate Bond Registration-based System to Advance the Reform of the Securities Issuance System
  • European Securities and Markets Authority Advises the European Commission on C6 Energy Derivatives and Related Obligations under the European Market Infrastructure Regulation
  • Dentons Europe LLP Ordered by the High Court of Justice in London to Disclose Documents Relating to Ex-client’s Alleged Fraud
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Financial Services Regulatory Update 2020/02/21

  • Update on the Hong Kong Securities and Futures Commission’s Front-loaded Regulatory Approach
  • Hong Kong Securities and Futures Commission Reprimands and Fines BMI Securities Limited HK$3.7 million and Suspends its Responsible Officer for Breaches of Anti-money Laundering Regulatory Requirements
  • Hong Kong Securities and Futures Commission Reprimands and Fines Capital Global Management Limited HK$1.5 million
  • Hong Kong Court of First Instance Dismisses Challenge to Hong Kong Securities and Futures Commission’s Investigative Powers
  • The Stock Exchange of Hong Kong Limited Announces Cancellation of Listing of Nickel Resources International Holdings Company Limited (Incorporated in the Cayman Islands with limited liability) (Stock Code: 2889)
  • U.S. Securities and Exchange Commission Charges Orchestrator of Cryptocurrency Scheme Ensnaring Physicians
  • U.S. Securities and Exchange Commission Proposes to Modernize Key Market Infrastructure Responsible for Collecting, Consolidating, and Disseminating Securities Market Data
  • U.S. Securities and Exchange Commission Charges Real Estate Company and Executives with Defrauding Retail Investors, Obtains Emergency Relief
  • U.S. Securities and Exchange Commission Charges Global Alcohol Producer with Disclosure Failures
  • Initial Coin Offering Issuer Settles U.S. Securities and Exchange Commission Registration Charges, Agrees to Return Funds and Register Tokens as Securities
  • Shenzhen Stock Exchange Accelerates the Approval for the Bond Issue Applications of Hubei Enterprises under Emergency – the First Innovative Corporate Bond Supporting Anti-Epidemic Given the Green Light to Issue
  • Shenzhen Stock Exchange Upgrades Its Distance Training to Meet What the Market Needs
  • Shanghai Stock Exchange Builds Financial Defense Line to Combat Coronavirus Outbreak
  • Hong Kong Monetary Authority Convenes Special Teleconference of the Banking Sector SME Lending Coordination Mechanism to Discuss Ways for Banking Industry to Assist Small and Medium-sized Enterprises (SMEs) in Overcoming the Impact of Coronavirus Outbreak
  • Hong Kong Monetary Authority Issues a Tentative Issuance Schedule for Exchange Fund Bills and Notes for the Coming Quarter of April to June 2020
  • Hong Kong Insurance Authority Continues to Provide Limited Public Services in View of the Latest Development Related to the Novel Coronavirus
  • Financial Conduct Authority of the United Kingdom Publishes Annual Sector Views Assessing the Risks and Potential Harm to Consumers in Financial Services Markets and Highlights its Areas of Concern
  • Australian Securities and Investments Commission Starts a Four-week Consultation on Draft Guidance about the New Best Interests Duty to Help Promote Certainty of New Obligations for Mortgage Brokers
  • The Monetary Authority of Singapore Welcomes Measures by Financial Institutions to Support Customers Facing the Impact of COVID-19
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Financial Services Regulatory Update 2020/02/07

  • Hong Kong Securities and Futures Commission and The Stock Exchange of Hong Kong Limited Issue Joint Statement in relation to Results Announcements in light of Travel Restrictions related to the Severe Respiratory Disease associated with a Novel Infectious Agent
  • The Stock Exchange of Hong Kong Limited Publishes Results of Latest Review of Issuers’ Annual Report Disclosure
  • Shenzhen Stock Exchange Issues Notice on Supporting Listed Companies and Other Market Entities to Combat Novel Coronavirus-caused Pneumonia
  • Hong Kong Securities and Futures Commission to Commence Proceedings for Suspected Market Manipulation in the Shares of China Ding Yi Feng and Lifts Trading Suspension
  • Hong Kong Securities and Futures Commission Issues Restriction Notice to a Broker to Freeze Client Accounts Linked to Suspected Market Manipulation
  • The Stock Exchange of Hong Kong Limited Publishes Consultation Paper on Corporate WVR Beneficiaries
  • U.S. Securities and Exchange Commission’s Office of Compliance Inspections and Examinations Publishes Observations on Cybersecurity and Resiliency Practices
  • U.S. Securities and Exchange Commission Proposes Amendments to Modernize and Enhance Financial Disclosures
  • Hong Kong Securities and Futures Commission Highlights Importance of Risk Management
  • China’s Foreign Investment Law and Implementing Regulations Come into Effect on January 1, 2020
  • Hong Kong Securities and Futures Commission Suspends Shiu Yau Wah for Five Months
  • Hong Kong Securities and Futures Commission Bans Christopher Tse for 12 Months
  • The Stock Exchange of Hong Kong Limited Announces Cancellation of Listing of China Animal Healthcare Ltd. (Stock code: 940)
  • The Stock Exchange of Hong Kong Limited Announces Cancellation of Listing of Midas Holdings Limited (in Liquidation in Singapore) (Stock code: 1021)
  • The Stock Exchange of Hong Kong Limited Announces Cancellation of Listing of Ding He Mining Holdings Limited (in liquidation) (Stock code: 705)
  • Overview of Shenzhen Stock Exchange’s M&A and Reorganization and Regulation Services in 2019
  • The First Government Bonds in Guangdong Province in 2020 Successfully Issued on Shenzhen Stock Exchange
  • Overview of the Refinancing Market of Shenzhen Stock Exchange in 2019
  • Overview of Equity Incentive Plans and Employee Stock Ownership Plans of SZSE-listed Companies in 2019
  • Shanghai Stock Exchange Reports on Dealing with SSE-listed Companies’ Violations in Information Disclosure in 2019
  • China’s Ministry of Science and Technology and Shanghai Stock Exchange Sign MOU on Deepening FinTech Integration
  • The Financial Conduct Authority of the United Kingdom Introduces New Overdraft Rules which Mean 7 out of 10 People will be Better off or See No Change
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Financial Services Regulatory Update 2020/01/17

  • Hong Kong Securities and Futures Commission Provides Licensing Guidance for Private Equity Firms and Family Offices
  • OTC Clearing Hong Kong Limited Obtains License From Financial Services Agency of Japan
  • Hong Kong Securities and Futures Commission Lifts Suspension of UBS Securities Hong Kong Limited Acting as Sponsor
  • U.S. Securities and Exchange Commission’s Office of Compliance Inspections and Examinations Announces 2020 Examination Priorities
  • Shenzhen Stock Exchange Holds the “Media Visiting SZSE” Exchange Meeting on Regulation of Listed Companies
  • China Securities Depository and Clearing Corporation Limited and Shenzhen Stock Exchange Jointly Issues the Implementation Rules for H-shares “Full Circulation” Business
  • Shenzhen Stock Exchange Issues the CNI Dhaka Selected Index to Promote the Deepening Cooperation Between China-Bangladesh Capital Markets
  • Shenzhen Stock Exchange Issues the CNI Nanshan 50 Index
  • Summary of Disciplinary Actions of Shenzhen Stock Exchange in 2019
  • Shenzhen Stock Exchange Holds the 2019 Bond Market Regulation Symposium
  • Shenzhen Stock Exchange Holds the Symposium on ETF Market Development in 2020
  • New Market Surveillance System of Shanghai Stock Exchange Put into Use
  • Financial Conduct Authority of the United Kingdom Proposes to Reform the Easy Access Cash Savings Market to Help Customers Get Better Rates for Cash Savings
  • Australian Securities and Investments Commission Encourages Fair and Effective Insurance Claims Handling for People Affected by the Bushfires – Warns against Unscrupulous “Service Providers”
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Financial Services Regulatory Update 2020/01/03

  • Hong Kong Securities and Futures Commission Proposes Changes to the Open-ended Fund Companies Regime
  • Launch of Investor Identification for Southbound Trading under Stock Connect
  • Hong Kong Securities and Futures Commission Reprimands and Fines Adamas Asset Management (HK) Limited HK$2.5 Million
  • Hong Kong Securities and Futures Commission Reprimands and Fines FIL Investment Management (Hong Kong) Limited HK$3.5 Million for Regulatory Breaches
  • Hong Kong Securities and Futures Commission Publicly Censures CLSA Limited, CITIC Securities Brokerage (HK) Limited, Beijing Enterprises Holdings Limited and Their Representatives for Breaching the Code on Share Buy-backs
  • The Listing Committee of The Stock Exchange of Hong Kong Limited Censures Ding He Mining Holdings Limited (Stock Code 705) and a Number of Its 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 Mr. Hu Guo An, Former Executive Director of Future Bright Mining Holdings Limited (Stock Code: 2212), for Breaching the Listing Rules and the Director’s Undertaking
  • Hong Kong Monetary Authority Issues Report on Artificial Intelligence (AI) Application in Banking
  • Hong Kong Monetary Authority Completes Designation of Domestic Systemically Important Authorized Institutions
  • International Monetary Fund Acknowledges Hong Kong’s Robust Policy Frameworks and Ample Buffers for Addressing Economic Challenges and Safeguarding Financial Stability
  • U.S. Securities and Exchange Commission Proposes to Codify Certain Consultations and Modernize Auditor Independence Rules
  • Xinjiang Production and Construction Corps Bond Debuts on the Exchange Market of Shenzhen Stock Exchange
  • CSI 300 ETF Option Successfully Listed on Shenzhen Stock Exchange
  • Shenzhen Stock Exchange and the Ministry of Industry and Information Technology Sign the Strategic Cooperation Agreement on the Listing Cultivation of High-quality Small and Medium-sized Enterprises
  • Australian Securities and Investments Commission Comments on Environmental Group’s Amendments of its Acquisition Accounting, Emphasizing on the Quality of Financial Reporting
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Financial Services Regulatory Update 2019/12/20

  • China Greenlights Majority Shares for Foreign Firms in Insurance Joint Ventures
  • The Stock Exchange of Hong Kong Limited Seeks Views on Review of Listing Regime for Debt Issues to Professional Investors Only
  • Hong Kong Privacy Commissioner for Personal Data Publishes Investigation Report on TransUnion Limited Data Breach Incident
  • Hong Kong Monetary Authority Issues Circular on Managing ML/TF Risks Associated with Virtual Assets and Virtual Asset Service Providers
  • Australian Securities and Investments Commission Consults on Guidance for the New Product Design and Distribution Obligations
  • Australian Securities and Investments Commission Bans Unfair Cold Call Sales of Direct Life Insurance and Consumer Credit Insurance
  • Australian Securities and Investments Commission Updates Responsible Lending Guidance
  • Abu Dhabi Global Market Publishes Public Consultation on Proposed Amendments to a Various ADGM Commercial Legislation
  • China Further Improves Environment for Foreign Investment
  • Eurex Exchange Enhances European ETF Ecosystem with New Product
  • United Kingdom Financial Regulators Publish Consultation Papers on Building Operational Resilience
  • Hong Kong Exchanges and Clearing Limited to Enhance Pre-opening Session and Volatility Control Mechanism in its Securities Market
  • HKMC Insurance Limited Introduces SME Financing Guarantee Scheme – 90% Guarantee Product
  • The Stock Exchange of Hong Kong Limited Issues Announcement in Relation to the Cancellation of Listing of China Huishan Dairy Holdings Company Limited
  • The Stock Exchange of Hong Kong Limited Publishes ESG Guide Consultation Conclusions and its ESG Disclosure Review Findings
  • The Listing Committee of The Stock Exchange of Hong Kong Limited Censures Artini Holdings Limited for Breaching the Listing Rules
  • U.S. Securities and Exchange Commission Charges Ericsson with Foreign Corrupt Practices Act Violations
  • MetLife Inc. Pays US$10 Million to Settle U.S. Securities and Exchange Commission’s Charges for Longstanding Internal Control Failures
  • Hong Kong Securities and Futures Commission Bans W. Falcon Asset Management (Asia) Limited’s Former Chairman for Life and Ex-CFO for Three Years
  • Hong Kong Securities and Futures Commission Releases the Findings of its Survey on Environmental, Social and Governance, Climate Change and Asset Management
  • Hong Kong Securities and Futures Commission Concludes Consultation on Margin Requirements for Non-centrally Cleared OTC Derivatives
  • Shenzhen Stock Exchange Issues Business Rules and Guidelines Regarding Stock Options
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Financial Services Regulatory Update 2019/12/06

  • China Offers All Investors Greater Business Access
  • Hong Kong Securities and Futures Commission Issues Circular in Relation to the Clearing and Record Keeping Rules for the OTC Derivatives Regime – Changes to the List of Persons Designated as Financial Services Providers
  • Singapore Exchange Regulation Proposes to Remove Minimum Trading Price Rule
  • Hong Kong Exchanges and Clearing Limited Signs Memorandum of Understanding with Shanghai Shipping Exchange
  • U.S. Securities and Exchange Commission Proposes to Modernize Regulation of the Use of Derivatives by Registered Funds and Business Development Companies
  • U.S. Commodity Futures Trading Commission Orders Goldman Sachs & Co. LLC to Pay US$1 Million for Recordkeeping Violations
  • Financial Conduct Authority of the United Kingdom Bans Promotion of Speculative Mini-bonds to Retail Consumers
  • Australian Securities and Investments Commission Reports on Compliance with Financial Advice Fee Disclosure Obligations
  • Shanghai Stock Exchange Issues Notice of Publicly Soliciting Opinions on “SSE Implementation Measures on Shanghai-Hong Kong Stock Connect Business (2nd Amendment in 2019, Draft for Comment)”
  • Dubai Financial Services Authority Issues Consultation Paper for SME Listings
  • Ontario Securities Commission of Canada Makes Doing Business Easier for Ontario Market Participants
  • Cyprus Securities and Exchange Commission Consults on the Introduction of Investment-based Crowdfunding Rules
  • Swiss Financial Market Supervisory Authority Adopts New Approaches on Value Adjustments for Default Risks
  • The GEM Listing Committee of Stock Exchange of Hong Kong Limited Criticizes Mr. Guo Xia William, Executive Director and Chairman of China Health Group Inc. for Breaching the GEM Listing Rules and the Director’s Undertaking
  • The First A-share Private Placement Convertible Bond Successfully Issues on Shenzhen Stock Exchange
  • Shanghai Stock Exchange Releases Notice of “SSE Rules for Reviewing Significant Asset Reorganization of Listed Companies on SSE STAR Market”
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Financial Services Regulatory Update 2019/11/22

  • New Hong Kong Securities and Futures Commission Guidance Addresses Market Misconduct
  • Monetary Authority of Singapore Helps Develop Blockchain-based Prototype for Multi-Currency Payments
  • Hong Kong Securities and Futures Commission Reprimands and Fines UBS AG HK$400 million for overcharging clients and related internal control failures
  • Hong Kong Securities and Futures Commission Bans Ma Sin Chi for Life
  • The Stock Exchange of Hong Kong Limited Issues Frequently Asked Questions on Amendments to Articles of Association
  • Council of the European Union Approves the EU-Singapore Free Trade Agreement
  • Monetary Authority of Singapore Completes its Business sans Borders Phase One Proof-of-Concept
  • Monetary Authority of Singapore Imposes Civil Penalty of SGD11.2 million on UBS for Deceptive Trades by its Client Advisors
  • Singapore Exchange Regulation Explains its Expectations of REITs at IPO Stage
  • Australian Securities and Investments Commission Gives Guidance on Companies’ Whistleblower Policies
  • China Further Utilizes Foreign Investment
  • Shanghai Stock Exchange Answers Questions on Taking Self-regulatory Measures for Information Disclosure Misbehaviors in Application for IPO on SSE STAR Market
  • Shanghai Stock Exchange Solicits Opinions on Business Rules for Refinancing of Companies Listed on SSE STAR Market
  • Shanghai Stock Exchange Answers Questions on Regulating ETF Subscription with Shares
  • Shenzhen Stock Exchange Pushes forward CSI 300 ETF Option Listing in a Steady and Orderly Manner
  • Shenzhen Stock Exchange Oversees ETF Stock Subscription in Strict Compliance with New Provisions on Share Lessening
  • Abu Dhabi Global Market Issues New Employment Regulations and Rules
  • Monetary Authority of Singapore Consults on Proposed Changes to Regulate Payment Token Derivatives Traded on Approved Exchanges
  • The Stock Exchange of Hong Kong Limited Issues Announcement in Relation to the Matter of Fuguiniao Co., Ltd. Cancellation of Listing
  • The Stock Exchange of Hong Kong Limited Issues Announcement in Relation to the Matter of National Agricultural Holdings Limited Cancellation of Listing
  • U.S. Commodity Futures Trading Commission Orders Proprietary Trading Firm to Pay Record US$67.4 Million for Engaging in a Manipulative and Deceptive Scheme and Spoofing
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Financial Services Regulatory Update 2019/11/08

  • China Takes Measures to Promote and Facilitate Cross-border Trade and Investment
  • China Introduces 16 Policy Measures to Promote the Development of the Guangdong-Hong Kong-Macao Greater Bay Area
  • Hong Kong Securities and Futures Commission Reprimands and Fines China Rise Securities Asset Management Company Limited HK$6.3 Million for Regulatory Breaches and Internal Control Failures
  • Hong Kong Securities and Futures Commission Issues Guidance on External Electronic Data Storage
  • Hong Kong Securities and Futures Commission Commences Market Misconduct Tribunal Proceedings against China Medical & Healthcare Group Limited and its Senior Management for Alleged Late Disclosure of Inside Information
  • Hong Kong Securities and Futures Commission Adopts New Approach to Virtual Asset Trading Platforms
  • Hong Kong Securities and Futures Commission Issues Restriction Notice to Hong Kong Wan Kiu Investment Company Limited
  • Former staff of Hong Kong Television Network Limited Jailed for Insider Dealing in a Prosecution Brought by Hong Kong Securities and Futures Commission
  • Hong Kong Securities and Futures Commission Bans Song Baojun for 12 months
  • Hong Kong Securities and Futures Commission Obtains Court Orders against Former Chairman and Directors of Minth Group Limited
  • Hong Kong Monetary Authority Issues Circular on High-level Principles on Artificial Intelligence by Banks
  • Hong Kong Monetary Authority Issues Circular on Consumer Protection in respect of Use of Big Data Analytics and Artificial Intelligence by Authorized Institutions
  • Hong Kong Monetary Authority Highlights a Series of Initiatives Aimed to Foster the Fintech Ecosystem
  • Hong Kong Exchanges and Clearing Limited Signs Memorandum of Understanding with Shaanxi Province
  • Hong Kong Exchanges and Clearing Limited Enhances Guidance for Overseas Companies Seeking to List in Hong Kong
  • Hong Kong Exchanges and Clearing Limited Signs Memorandum of Understanding with SMM Information & Technology Co Ltd
  • Financial Conduct Authority of the United Kingdom Confirms Help for Mortgage Prisoners
  • European Union Grants Brexit Delay to United Kingdom
  • Australian Securities and Investments Commission Extends Relief for Portfolio Holdings Disclosure
  • People’s Bank of China and State Administration for Market Regulation Jointly Incorporate Fintech Products into the National Certification System
  • Shenzhen Stock Exchange Answers Questions from Reporters about Amendments to Format of Announcement on Equity Pledge by Shareholders of Listed Companies
  • Shenzhen Stock Exchange Answers Questions from Reporters about Amendments to Industry Information Disclosure Guidelines
  • Shenzhen Stock Exchange Releases Guidelines on Interim Information Disclosure of Asset-Backed Securities to Improve Institutional System and Promote Normative Development of the Market
  • Shenzhen Stock Exchange Issues Information Disclosure Guidance for Employee Stock Ownership Plan
  • Shenzhen Stock Exchange Releases Four Industry Information Disclosure Guidelines
  • International Organization of Securities Commissions Publishes Report Setting out Governance of Key Over-the-Counter Derivatives Data Elements
  • Canadian Securities Administrators Proposes Changes to Auditor Oversight Rules
  • Abu Dhabi Global Market Publishes Regulatory Guidance for Application Programming Interfaces
  • Abu Dhabi Global Market Enters Partnership with Toronto Finance International
  • U.S. Securities and Exchange Commission Proposes Amendments to Modernize Shareholder Proposal Rule

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Financial Services Regulatory Update 2019/10/25

  • Highlights of Speech by Ms. Julia Leung, Deputy Chief Executive Officer and Executive Director, Intermediaries of Hong Kong Securities & Futures Commission at Hong Kong Conference 2019: IPO Sponsors and Regulations
  • The Stock Exchange of Hong Kong Limited Announces the Effective Date of Unwinding the Delegated Authority to Approve GEM Listing Applications and Publishes Related Changes to GEM Listing Rules
  • People’s Bank of China and State Administration of Foreign Exchange Further Facilitate Investment by Overseas Institutional Investors in the Interbank Bond Market
  • The Stock Exchange of Hong Kong Limited Issues Announcement in Relation to the Matter of Changgang Dunxin Enterprise Company Limited Cancellation of Listing
  • U.S. Securities and Exchange Commission Halts Alleged US$1.7 Billion Unregistered Digital Token Offering
  • U.S. Securities and Exchange Commission Charges 18 Traders in US$31 Million Stock Manipulation Scheme
  • U.S. Securities and Exchange Commission Proposes Amendments to Exemptive Applications Procedures
  • Financial Conduct Authority of the United Kingdom Sets out Latest Expectations for Firms on Brexit
  • Financial Conduct Authority of United Kingdom Fines Tullett Prebon (Europe) Limited £15.4 million
  • Financial Conduct Authority of United Kingdom Acts to Protect Those Buying Motor Finance
  • Financial Conduct Authority of United Kingdom Announces Future Work on Climate Change and Green Finance
  • European Securities and Markets Authority Adopts Market Abuse Regulation Standards on Supervisory Cooperation
  • Shanghai Stock Exchange Amends, Optimizes Rules on Disciplinary Sanction, Review & Hearing
  • Shanghai Stock Exchange Answers Questions on the Calculation of the Upper Limit of Overseas Securities Institutions’ Domestic Asset Balance under Shanghai-London Stock Connect
  • China Ministry of Natural Resources and Shenzhen Stock Exchange Sign Strategic Cooperation Framework Agreement
  • European Securities and Markets Authority and Australian Securities and Investments Commission Co-operate on Benchmarks
  • Australian Securities and Investments Commission Publishes Report on Effectiveness of Disclosure Reliance
  • Australian Securities and Investments Commission Provides Relief from Financial Adviser Compliance Scheme Obligations
  • Singapore Exchange Regulation Strengthens Cooperation with Singapore Institute of Surveyors and Valuers
  • New initiatives Facilitate Expansion of Financial Institutions in China and Singapore in Each Other’s Markets
  • Monetary Authority of Singapore and China Banking and Insurance Regulatory Commission Enhance Supervisory Cooperation
  • Hong Kong Securities and Futures Commission Commences Insider Dealing Prosecution against a Former Staff of Hong Kong Television Network Limited
  • U.S. Internal Revenue Service Issues Additional Guidance on Tax Treatment involving Virtual Currency
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Financial Services Regulatory Update 2019/10/11

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

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Financial Services Regulatory Update 2019/09/27

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

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

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

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

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