Unit holder protections, corporate governance, disclosure quality to be enhanced; applicable to REITs, ETFs, closed-end funds.
Better access to information will aid regulator functions, enhance cross-border information sharing, enable better informed investment decisions, boost market liquidity.
Licensees may not use OTC derivative client money for own obligations, working capital; new reporting requirements to increase transparency on client money use.
Hana Financial Group chairman and KEB Hana Bank president also tied to illegal hiring of 32 employees in 2013.
APRA review of executive remuneration frameworks at twelve financial institutions found remuneration structures do not encourage behaviour focused on risk management or long-term financial soundness.
Chinese authorities step up focus on the online asset management industry to clean up unlicensed firms.
BSP to adopt regtech solutions including API for electronic data submissions by FIs, chatbot for complaints to the regulator.
FT reports a revival of QDLP programme, allowing wealthier Chinese to invest in foreign-focused private equity and hedge funds.
Key financial industry stakeholders to co-create guide setting out key principles, best practices to strengthen governance, reduce data misuse risks.
Intervention action should be taken to correct unsafe or unsound banking practices before rules and buffers are materially breached.