SECURITIES / DERIVATIVES

Securities / Derivatives

Philippine SEC Proposes Draft Rules For Umbrella Funds

By Sanday Chongo Kabange | 21/02/2022

Investment companies will be allowed to operate umbrella funds as long as they create at least two sub-funds, which segregated assets and liabilities.

Securities / Derivatives

Singapore Has No Plans to Restrict Retail Investment in SPACs

By Darien Choong | 20/02/2022

Regulatory safeguards and educational efforts mounted by SGX should provide “adequate protection for retail investors and enable them to assess the risk-return trade-offs”.

Enforcement

FSC Korea Fines IBK and Fund Manager Over Mis-sold Funds

By Editors | 20/02/2022

Industrial Bank of Korea also has to suspend its private fund sales operations for 1 month. Discovery Asset Management and its CEO are suspended for 3 months.

Securities / Derivatives

CBIRC Issues New Rules to Manage Trust Industry Risks

By Darien Choong | 18/02/2022

The rules set out requirements for ‘guarantee funds’ and ‘liquidity mutual aid funds’ to help the trust industry manage risk.

Securities / Derivatives

HK Government Set to Issue Inaugural Retail Green Bond

By Sanday Chongo Kabange | 17/02/2022

Hong Kong financial secretary Paul Chan said the issuance allows residents to “directly contribute to greening Hong Kong and share the fruit of the sustainable development”.

Enforcement

US Agencies Probe Block Trading Practices at Banks, Hedge Funds

By Editors | 17/02/2022

The DOJ and SEC are reportedly examining whether banks may have improperly alerted hedge funds ahead of market-moving block trades.

Securities / Derivatives

Splitting Chairman, MD, CEO Roles No Longer Mandatory: SEBI

By Sanday Chongo Kabange | 17/02/2022

Only 54 percent of the listed companies in scope had complied with the rule as of end-2021, so it will instead become voluntary.

Securities / Derivatives

HK SPAC Regime Threatened by Lack of D&O Insurance – Report

By Editors | 17/02/2022

Few insurers in Hong Kong provide liability insurance for directors and officers of SPACs. Those that do charge premiums up to five times higher than for traditional IPOs.

Enforcement

HK Court Orders Illicit Insider Dealing Profits to Be Returned

By Editors | 17/02/2022

Illicit profits made from insider dealing in the shares of GEM-listed TeleEye Holdings in 2016 will be returned to 63 investors.