Securities / Derivatives

    Enforcement

    HK ICAC Charges Four for Concealing Backdoor Listing

    By Editors | 28/11/2021

    A retired lawmaker and his son concealed an agreement with a third party who agreed to pay them about HK$210mn for control of a listed stock.

    Securities / Derivatives

    Chinese, US Authorities Working to Resolve Audit Issues

    By Editors | 28/11/2021

    CSRC director-general Shen Bing said authorities are “working very hard” to prevent Chinese companies being delisted from US exchanges.

    Enforcement

    Hong Kong FRC to Increase Public Disclosures on Investigations

    By Editors | 28/11/2021

    The Financial Reporting Council will increasingly disclose its investigations when cases involve high public interest.

    Securities / Derivatives

    Tax Incentives Prompt Raft of IPO Listings in Sri Lanka

    By Duruthu E Chandrasekera | 27/11/2021

    Companies will be able to maintain a reduced corporate tax rate for three years after listing. The CSE’s listing framework was also revamped earlier this year.

    Securities / Derivatives

    Korea FSS Asks Brokers to Prioritise Consumer Protection

    By Editors | 26/11/2021

    The FSS is reviewing a decision to penalise nine market-makers, taking into account “self-correcting measures” by individual firms.

    Market Infrastructure

    ASIC Imposes Licence Conditions on ASX Over 2020 Outage

    By Sanday Chongo Kabange | 26/11/2021

    ASIC wants market participants to be able to re-route trades to alternative venues such as Chi-X in the event of a future market outage.

    Enforcement

    FSC Korea Cancels Business Licence of Optimus Asset Management

    By Sanday Chongo Kabange | 25/11/2021

    The FSC has also fined Optimus and ordered board member removals, over “numerous counts of violations and inappropriate fund management activities”.

    Securities / Derivatives

    SEBI Relaxes Rule on Daily Fines for Disclosure Violations

    By Sanday Chongo Kabange | 25/11/2021

    Stock exchanges may choose not to impose daily fines on companies for non-compliance with disclosure obligations if investors are not adversely affected.

    Securities / Derivatives

    MAS Proposes Amendments to the Business Trusts Act

    By Editors | 25/11/2021

    Business trusts will have to obtain and maintain information on beneficial ownership and disclose their CEOs’ interests in transactions.

    Securities / Derivatives

    SEBI Defers Implementation of New Margin Requirements

    By Editors | 24/11/2021

    New rules that require investors to have 50 percent of their margins in cash to trade in futures and options have been deferred to 28 February.

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