Market Infrastructure

Big Four Auditors Face Parliamentary Scrutiny in Australia

18/02/2019

Amid an ongoing ACCC probe into the big four auditing firms, a parliamentary committee is asking for a review of the audit market to explore conflicts of interest and market dominance issues.

Uncategorised

Hong Kong Empowers FRC as Independent Auditor Oversight Body

18/02/2019

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.

Securities / Derivatives

CBIRC Green-Lights a Fifth Bank’s Wealth Management Subsidiary

17/02/2019

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.

Securities / Derivatives

India Lifts Corporate Bond Investment Cap for FPIs

17/02/2019

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.

Market Infrastructure

IOSCO Members, ESMA Can Exchange Information Post-GDPR

15/02/2019

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.

Enforcement

Senate Passes Bill Empowering ASIC to Pursue Harsher Penalties

15/02/2019

The bill increases the maximum prison penalties ASIC can pursue to 15 years, and raises the caps on civil penalties for individuals and corporations.

Capital / Liquidity

Indonesia Sets New Capital Requirements for Crypto Players

15/02/2019

Crypto asset traders and exchanges in Indonesia say the high capital requirements for participating in crypto futures will hinder the development of the sector.

Securities / Derivatives

China Launches Nationwide Investigation into Enterprise Bonds

15/02/2019

Following a record number of defaults in 2018, China’s state planning agency is launching an investigation into bonds issued by state owned-enterprises.

Securities / Derivatives

CSRC Seeks to Control Speculation on Shanghai’s New Tech Board

15/02/2019

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.