Securities & Trading

The BOJ is scrapping its JPY 6 trillion annual target for buying ETFs, but will keep the JPY 12 trillion annual ceiling. The BOJ now owns about 7% of the Japanese equity market.

Processing fees, prospectus registration fees, initial fees and annual listing fees will be provided to companies seeking a listing, while companies already listed can receive rebates.

The law expands consumer rights, raises penalties for breaches, and requires FIs to set up internal controls to protect consumers.

The SC said it will launch its five-year Capital Market Masterplan 3 in H2 2021, strengthen its regulatory capabilities, and streamline conduct requirements.

Clients were pressured to deposit funds into their trading accounts, engage in high-risk trading, and delay or cancel withdrawal requests.

The case is being reinstated to allow Fund Liquidation Holdings LLC to pursue claims against 18 banks on behalf of two defunct funds that initially launched the lawsuit.

Vanguard says the mutual funds market is “fairly crowded” and that it would instead focus on a JV with Ant Group providing robo-advisory services to retail investors.

The SEC is considering imposing conditions for investors seeking to redeem mutual fund units, among other measures to enhance liquidity management at funds.

Other US financial regulators including the SEC, Treasury Department and Federal Reserve have also recently raised climate risk and a key focus.

Companies will be required to conduct a public offering of at least 10 percent of their shares within one year from closing a transaction that results in a backdoor listing.