Securities & Trading

The Guide offers clarity to Singapore lawyers on regulatory submissions on behalf of listed companies, establishing a baseline standard for their conduct.

IOSCO offers 11 good practices to help regulators establish and operate efficient deference processes, and mitigate the risk of market fragmentation.

From 1 July, the new operational framework will lift restrictions that have to date prevented trading in debt securities that have defaulted on redemption.

The new framework will see a 20% capital gains tax imposed on retail investor profits over 20mn won, and 25% on profits over 300mn won.

Malaysia will extend its short-selling ban until year-end; Thailand will continue using the uptick rule until end-September; Korea's short-selling ban is due to expire in mid-September.

New corporate bond offerings often go partially unsold without the knowledge of issuers. JSDA is reportedly considering requiring underwriters to disclose investor information to issuers.

SEBI has relaxed pricing rules for preferential issues to make it easier for listed companies to raise new funds. Similar relaxations for stressed companies were also announced.

A feasibility study on commodity futures trading is being conducted by the securities regulator and Chinese conglomerate Ruifeng Tianfu Investment.

The liquid asset holding requirements for repo market borrowers such as hedge funds will gradually increase in three stages from July until April 2021.

CPMI and IOSCO have asked CCPs to address a number of issues related to default management auctions within 24 months.