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Securities / Derivatives
Myanmar to Open Stock Market to Foreign Nationals in Phases
By Editors | 24/10/2019
The SECM has decided to open the stock market only to foreign nationals living in Myanmar for the time being, but a new board planned for Q3 2020 will reportedly allow foreigners to trade freely.
Enforcement
UBS Identifies ‘Inappropriate Spreads’ Charged to HK, SG Clients
By Editors | 24/10/2019
UBS may have charged some wealth management clients booked in Hong Kong and Singapore ‘inappropriate spreads’ on debt securities transactions between 2008 and 2015.
Securities / Derivatives
SEBI Allows Stock Exchange Listings of Commercial Paper
By Editors | 23/10/2019
SEBI says issuers have shown an interest in listing their commercial paper on stock exchanges to capture broader investor participation.
Enforcement
JPM, SocGen Earned $6.8mn on Money-Losing DLFs Sold in Korea
By Editors | 23/10/2019
FSS data shows that JP Morgan Chase and Société Générale earned nearly $6.8mn from the high-risk derivatives products sold through KEB Hana and Woori Bank.
Securities / Derivatives
China Eases Rules on Backdoor Listings for Some Firms
By Editors | 23/10/2019
Assets in high tech and strategically important emerging sectors that “conform to the national strategy” can be used to restructure ChiNext companies, the CSRC says.
Enforcement
FSC Korea to Raise Penalties for Illegal Short Selling
By Editors | 22/10/2019
On top of the higher penalties for illegal short selling, the FSC will penalise violators extra if they are found to have also engaged in unfair dealing.
Enforcement
IPO Sponsors, Underwriters Are ‘Guardians of Market Quality’: SFC
By Manesh Samtani | 22/10/2019
The SFC expects sponsors to conduct sufficient due diligence to properly understand and assess the companies seeking to be listed, and to ensure red flags are properly followed up.
Securities / Derivatives
SSE, SZSE Grant Stock Connect Access to HK Dual Class Shares
By Editors | 22/10/2019
The rule changes come over a year after the China and Hong Kong bourses started working towards including dual class shares in Stock Connect.
Securities / Derivatives
Korea to Lift Ban on Brokers Lending to Overseas Units
By Editors | 21/10/2019
Large brokerage firms will be allowed to extend loans to their overseas operations to better finance their global outreach.
Enforcement
US SEC Charges Chinese Traders in Market Manipulation Scheme
By Editors | 21/10/2019
The market manipulation scheme involved 18 traders primarily based in China, over 3,900 US-listed securities and over $31mn in illicit profits.
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