Securities / Derivatives

Shenzhen Launches Pilot Scheme for Cross-border Investment

12/05/2021

The pilot scheme can be used by qualified domestic investors to invest overseas in unlisted companies and private equity funds.

Securities / Derivatives

Philippine SEC Joins ASEAN Framework for Cross-border Funds

12/05/2021

Regulators from Singapore, Malaysia and Thailand – already part of the initiative – have signed a supplemental MoU admitting the Philippine SEC into the CIS framework.

AML / KYC

FMA, CLSA Premium NZ Agree Statement of Facts on AML Breaches

11/05/2021

The FMA is seeking a pecuniary penalty against CLSA Premium NZ and costs. The maximum penalty is NZD 2 million.

Securities / Derivatives

OTC Clear Launches Clearing for SOFR-HONIA Cross-currency Swaps

11/05/2021

The SFC has approved the launch of clearing services for cross-currency interest rates swaps and basis swaps referencing HONIA and SOFR.

Enforcement

HKICPA, FRC Agree to Share Information, Refer Cases

11/05/2021

The MoU is expected to enhance audit quality, contribute to the development of the Hong Kong audit market, and promote confidence in the capital markets.

Enforcement

ASIC Bans Former ANZ Representative For Eight Years

10/05/2021

The representative falsely witnessed binding nomination of beneficiary forms for 17 clients, backdated documents, and falsified a client’s signature.

AML / KYC

US Court Lifts Investment Ban Against Luokung Technology Corp

10/05/2021

Separately, China Mobile, China Unicom and China Telecom have lost their appeals of a NYSE decision to delist their shares.

Securities / Derivatives

Malaysia to Allow Circuit Breaker to Revert to Original Parameters

10/05/2021

The decision reflects the improving economic outlook, the roll-out of the vaccination programme, and the normalisation of global market conditions.

Securities / Derivatives

Hong Kong Launches Grant Scheme to Lure OFCs, REITs

10/05/2021

OFCs and REITs that set up in Hong Kong can secure funding to cover 70% of eligible expenses paid to Hong Kong-based service providers.