Securities & Trading

Among several other enhancements, moving from a T+3 to a T+2 settlement cycle will harmonise Singapore with stock markets in Australia, the EU, Hong Kong and the US.

Parties making the voluntary delisting offer to privatise an issuer will not be allowed to vote on the delisting resolution, as is the case in Hong Kong and Australia.

China's brokerages are looking to boost capital to guard against further falls in the markets that could threaten the value of loans backed by stock pledges.

The KOSPI has fallen nearly 20% from this year's peak, prompting FSC chairman Choi Jong-ku to propose that lawmakers abolish the securities transaction tax.

China's listed companies have historically used trading halts to prevent stock price declines during market stress, preventing investors from selling for long periods of time.

Once the improvement measures are enacted, innovation will be accelerated as the fundraising environment for small enterprises will improve, said FSC chairman Choi Jong-ku.

Announced by President Xi Jinping, the new science and technology board will subject innovative enterprises to different profitability and ownership requirements.

Eleven brokerages have contributed $3.7bn to help listed companies facing liquidity issues, while a new programme is launched to support corporate bond issuances.

Enabling the UPI for retail investors subscribing to public share issues through intermediaries will cut IPOs listing times from six to three days, according to local media reports.

The guidance supports the design and implementation of the risk-based approach for securities products and services, which can create opportunities for criminals to launder proceeds of crime.