Securities / Derivatives

Securities / Derivatives

China: NEEQ Launches ‘Select Tier’, Most Stocks End Lower

By Editors | 27/07/2020

By the end of first day’s trading, about two-thirds of the 32 stocks launched on the new ‘Select Tier’ closed below their initial offering prices.

AML / KYC

US Hedge Funds Being Used for Money Laundering: FBI

By Manesh Samtani | 27/07/2020

A leaked FBI bulletin says US hedge funds and private equity firms are being used to facilitate money laundering, organised crime, and sanctions evasion.

Securities / Derivatives

Malaysia Proposes to Allow Lower Public Holding of Large Caps Stocks

By Sanday Chongo Kabange | 27/07/2020

Proposed listing rule amendments will allow some large listed issuers to have a public holding spread as low as 15%, compared to the current 25% minimum.

Capital / Liquidity

CFTC Adopts New Swaps Rules Limiting Extraterritorial Oversight

By Editors | 27/07/2020

Chairman Heath Tarbert said it is unnecessary for the CFTC to be “the world’s policeman” for all swaps, given that most G20 jurisdictions have adopted similar swaps regulations.

Enforcement

Hong Kong Court Sentences Ex-HKMEx Chairman to Four Years Jail

By Editors | 27/07/2020

The 62-year-old Barry Cheung was found guilty a week earlier of conspiracy to defraud the SFC into letting HKMEx keep its licence to provide automated trading services in Hong Kong.

Securities / Derivatives

SGX RegCo Addresses Financial Reporting Challenges Amid Covid-19

By Editors | 26/07/2020

SGX RegCo places emphasis on quality, reliability and appropriateness of interim financial reports, with particular regard to asset valuations and alternative performance measures used.

Market Infrastructure

Japanese Trust Funds Align with Global Trends on FX Settlement Risk

By Makoto Miyazaki | 26/07/2020

Trust funds in Japan have started focusing on mitigating FX settlement risk, to which they have long been exposed. This article explains the change in focus and the factors behind this.

ESG / Sustainability

Hong Kong Exchange Proposes Introduction of Paperless IPO Regime

By Manesh Samtani | 26/07/2020

The stock exchange is seeking feedback on proposals to introduce a paperless listing documents regime, and to only allow IPO subscriptions through electronic channels.

Securities / Derivatives

BSEC Needs to Step Up Its Game, say Market Participants

By Duruthu E Chandrasekera | 25/07/2020

BSEC is working to speed up the IPO process and barriers to listing, amid calls for more diversified products and better transparency and governance in the capital market.