Securities / Derivatives

Enforcement

SFC Launches Proceedings Against China Ding Yi Feng Manipulators

By Editors | 23/01/2020

On its first day of trading after a 10-month suspension, China Ding Yi Feng has lost 90% of its value, representing HKD 25 billion in lost market value.

Market Infrastructure

HKMA Consults on Contractual Stay Provisions in Financial Contracts

By Editors | 23/01/2020

FIs will have to adopt provisions in financial contracts binding counterparties to temporary stays on termination rights that may be imposed by the HKMA during bank resolution.

Enforcement

CFTC Penalises Australian Firm for Spoofing by Former Trader

By Editors | 23/01/2020

The CFTC has ordered Propex Derivatives to pay $1mn, comprising restitution, disgorgement, and a civil monetary penalty. The DOJ has also entered a deferred prosecution agreement with the firm.

Securities / Derivatives

China Prohibits SOEs from Speculative Derivatives Trading

By Editors | 22/01/2020

State-owned enterprises may only engage in derivatives trading for hedging purposes. Speculative derivatives trading is explicitly prohibited.

Market Infrastructure

S. Korea to Implement Asia Region Funds Passport on 27 May

By Editors | 22/01/2020

To register passport funds that can be offered in overseas markets, fund managers in Korea must have at least $500mn under management and meet a $1mn minimum capital requirement.

Securities / Derivatives

RBI Permits Gift City Trading of Rupee Derivatives

By Editors | 21/01/2020

The move will help address demands from overseas participants for the availability of better tools to hedge India exposures.

Securities / Derivatives

Vietnam to Tighten Bond Issuance Rules Amid Overheating Market

By Editors | 21/01/2020

The draft rules require that separate bond issuances be at least six months apart, and that issuers limit their issuances to three times capital.

Securities / Derivatives

SET Unveils Three Pillar Growth Strategy for 2020

By Editors | 21/01/2020

The SET will look to set up trading links with Cambodia, Laos, Myanmar and Vietnam this year, expecting much of its growth to be driven by offshore-related investment products and IPOs.

Securities / Derivatives

Philippine Regulators Ease REITs Rules with New Framework

By Editors | 21/01/2020

The new rules remove stringent tax and minimum public ownership requirements under a 2009 law that prevented the rise of REITs in the Philippine capital market.