Structural Regulation

HKEX Issues Guidance for Overseas Companies Seeking HK Listings

29/10/2019

The guidance materials have been enhanced to improve access to the Hong Kong market and to facilitate the application process.

Cloud & Infrastructure

APRA to Delay Launch of New Data Collection Solution

29/10/2019

APRA is reviewing its implementation approach due to the complexity and significant burden of migrating all existing collections to the new solution.

Anti-Money Laundering

FATF Issues Best Practice Paper on Beneficial Ownership

29/10/2019

FATF mutual evaluations have shown that many jurisdictions are still finding it challenging to ensure transparency of ownership of legal persons.

Conduct, Culture & Accountability

ASIC Wins Appeal in Westpac Super Switching Case

29/10/2019

The ruling could limit the ability of financial services firms to market and cross-sell investment products using the ‘general advice’ allowance under the law.

Conduct, Culture & Accountability

ASIC Imposes Additional Licence Conditions on IOOF

29/10/2019

ASIC granted a licence variation requested by IOOF’s investment services unit, but has decided to also impose additional licence conditions.

Structural Regulation

Trade Woes Prompt Easing of China’s Forex Rules

28/10/2019

SAFE will ease controls on equity investment from non-investment foreign firms, among 12 measures to help draw overseas funds into the domestic market and facilitate cross-border trade.

Structural Regulation

CSRC to Boost Competitiveness of NEEQ, ChiNext Markets

28/10/2019

The CSRC is speeding up its reform efforts for the NEEQ and ChiNext markets to ensure their competitiveness, and inclusiveness to small and innovative firms.

Supervision & Enforcement

FSS to Conclude Probe into Derivatives Mis-selling This Week

28/10/2019

The FSS will conclude its investigation into KEB Hana and Woori Bank this week. KEB Hana and its CEO are expected to face higher penalties for ‘obstructing’ the investigation.

Market Abuse

SEBI, US SEC Probe IT Major Infosys for “Unethical Practices”

28/10/2019

SEBI and the US SEC are probing Infosys after whistleblowers alleged costs were under-reported to inflate profits and “critical information” was hidden from auditors and the board.