Structural Regulation

New Listing Rules at Nasdaq to Impede Chinese IPOs – Reports

19/05/2020

Nasdaq will put a minimum $25mn value on the size of IPOs, making it harder for some Chinese firms to pursue a listing. A delisting notice has been filed against Luckin Coffee.

Market Risk

APRA Grants Internal Modelling Banks Relief on Market Risk Capital

19/05/2020

APRA will allow internal modelling banks to disregard back-testing exceptions that occurred in March and April when determining capital requirements for market risk.

Structural Regulation

HSI Operator to Allow Dual Class Shares as Index Constituents

19/05/2020

WVR and secondary-listed companies from the Mainland will be eligible for including in the HSI and HSCEI. H-share companies with unlisted share capital will also be eligible.

Trading & Investment

FSC Korea to Rein in Excessive Investment in Risky ETFs, ETNs

19/05/2020

The FSC will impose a new minimum deposit requirement on retail investors investing in ETFs and ETNs, and require them undergo mandatory investor education, among other measures.

Structural Regulation

India to Allow Private Companies to List on Foreign Exchanges

19/05/2020

Private companies will be able to list in ‘permissible jurisdictions’ – likely to include the US, China, Japan, South Korea, the UK, Hong Kong, France, Germany, Canada and Switzerland.

Trading & Investment

European Regulators Lift Covid-19 Short Selling Bans

19/05/2020

In consultation with ESMA, Austria, Belgium, France, Greece, Spain and Italy have decided to lift short-selling bans that have been in place since mid-March.

Tokenisation

DTCC Explores Further Digitalisation in Public & Private Markets

19/05/2020

Project Ion seeks to further optimise the settlement process in public markets. Project Whitney explores the use of asset tokenisation and digital infrastructure to support private markets.

Trading & Investment

China Urges Domestic Firms to List in London – Report

19/05/2020

The push for a resumption of listings under the Shanghai-London Stock Connect is in part aimed at improving China’s ties with the outside world.

KYC & CDD

Companies Not Protecting Against Third Party Risk: Refinitiv

18/05/2020

43% of third parties do not receive due diligence checks, and 62% of respondents do not know the extent to which third parties are outsourcing work.