Hong Kong has gazetted an Amendment Ordinance empowering the Financial Reporting Council as an independent oversight body for the HKICPA and auditors of listed companies.
ICBC has become the 5th bank to receive approval to set up a wealth management subsidiary, through which it can channel WMP funds into the stock market.
The 20% cap limiting exposures to a single corporate entity was aimed at incentivising FPIs to maintain a portfolio of assets, but market feedback indicates it has instead had a contraining effect.
A decision by the European Data Protection Board will enable the continued sharing of information between ESMA and securities regulators outside the EU, in compliance with GDPR.
The bill increases the maximum prison penalties ASIC can pursue to 15 years, and raises the caps on civil penalties for individuals and corporations.
Crypto asset traders and exchanges in Indonesia say the high capital requirements for participating in crypto futures will hinder the development of the sector.
Following a record number of defaults in 2018, China’s state planning agency is launching an investigation into bonds issued by state owned-enterprises.
Amid concerns of volatility when the new board launches, Chinese regulators reportedly convened a meeting with industry participants seeking views on measures to control market hype.
ASIC's existing guidance allows a tailored approach to applying responsible lending obligations, but licensees may be applying them where the law does not require it.
Deloitte Japan agreed to pay $2mn to settle charges related to audit reports it issued while dozens of its employees maintained financial relationships with the audit client.