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Enforcement
SFC Seeks Damages for Tianhe Investors Over Defective Prospectus
By Editors | 07/09/2020
The SFC’s investigation revealed that about 53% of Tianhe’s total track record revenue disclosed in its 2014 IPO prospectus was overstated.
Securities / Derivatives
S. Korea to Create $16.8bn ‘New Deal’ Fund Over 5 Years
By Manesh Samtani | 07/09/2020
The government will act as a subordinate investor, meaning that it (namely, taxpayers) will absorb up to 10 percent of any possible losses first.
Market Infrastructure
China to Expand Stock Connect, Deepen Reforms – Reports
By Editors | 07/09/2020
The scope of investment products foreign investors can trade via Stock Connect will be expanded, among other reforms, said the CSRC’s Fang Xinghai.
Capital / Liquidity
HKEX Enhances Capital-based Position Limits for Options, Futures
By Manesh Samtani | 07/09/2020
SEOCH and HKCC clearing participants can apply to increase their capital-based position limits, provided they meet a set of criteria.
Enforcement
US SEC Launches Fraud Probe into Chinese Edutech Firm
By Manesh Samtani | 06/09/2020
Reports first emerged in February alleging that up to 80% of GSX Techedu users are fake, evidenced by attendance data, server records, and admissions by former employees.
Securities / Derivatives
US SEC Stays Implementation of NYSE Direct Listing Rules
By Editors | 06/09/2020
The Council of Institutional Investors has objected to the direct listing rules on concerns that companies may circumvent investor protections built into the IPO process.
Capital / Liquidity
RBI Loosens Constraints on Banks’ Bond-buying Activities
By Editors | 06/09/2020
The move will provide banks additional liquidity to buy more government bonds and help calm investors who are nervous about a sudden spike in yields.
Enforcement
Taiwan FSC Orders Probe into Securities Firm Over Broker Suicide
By Editors | 06/09/2020
The brokerage firm is reportedly under scrutiny because a stock broker claimed in a suicide note that he was instructed to place orders for clients through a separate laptop in the office.
Securities / Derivatives
SEBI Asks Rating Agencies Not to Classify Restructured Debt as Default
By Editors | 06/09/2020
Credit rating agencies are asked not to consider debt restructured as a result of Covid-19 related stress as a default event.
Securities / Derivatives
CSRC Issues New Norms for Public Sale of Investment Funds
By Editors | 05/09/2020
The revisions will further improve the conduct for fund sales and strengthen internal controls at fund sales institutions, the CSRC says.
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