Structural Regulation

New Zealand Implements Asia Region Funds Passport

28/07/2019

New Zealand joins Australia, Japan and Thailand in having implemented the legal and regulatory requirements to enable the Asia Region Funds Passport.

Structural Regulation

UPDATED – ASIC to Review Active ETF Rules on Market Making

26/07/2019

ASIC has asked market operators not to admit any managed funds that do not disclose their portfolio holdings daily and have internal market makers, while it undertakes a review of its regulatory settings.

Operational Risk

CCP12 Publishes Best Practices to Address Outsourcing Risk

26/07/2019

As CCPs move to more complex supply chain models, proper oversight mechanisms and controls need to be in place to manage the risks introduced by third-parties.

Conduct, Culture & Accountability

FMA to Open Applications for New Adviser Licences in November

26/07/2019

Announced last month, the new licensing regime will require financial advisers to operate under a new transitional licence from June 2020.

Trading & Investment

Taiwan to Launch Intraday Odd-lot Trading in H2 2020

26/07/2019

Currently, odd-lot trading is only permitted after-hours. Allowing intraday odd-lots trades is expected to boost retail stock market participation and increase daily turnover.

Structural Regulation

CBIRC Issues New Rules to Raise Transparency on Bank Ownership

26/07/2019

By end-June 2020, all banks must provide the complete and accurate register of their shareholders to custodian institutions who will manage the register moving forward.

Conduct, Culture & Accountability

ASIC Takes ANZ Bank to Court for Unlawful Fees

26/07/2019

ANZ charged fees on transactions between its customers’ own accounts, despite the fees only being applicable to transactions made to “another person or business”.

Clearing & Post-Trade

NSE Clearing Retains Dominance as Interoperability Kicks In – Report

25/07/2019

Trading members and custodians have largely selected NSE Clearing over ICCL to settle trades in the equity cash segment following the introduction of clearing corporation interoperability.

Resolution & Recovery

MAS Consults on Subsidiary Legislation for Winding Up VCCs

25/07/2019

The MAS is seeking feedback on proposed subsidiary legislation relating to the insolvency and winding up of a VCC and its sub-funds.