Markets & Infrastructure

Trading & Investment

Hong Kong: Securities Industry Subsidies to be Available from 25 May

By Editors | 20/05/2020

A cash subsidy of HK$50,000 will be available for securities firms ranked 15th onwards by market turnover, and HKD 2,000 for each individual licensed by the SFC.

Clearing & Post-Trade

RBI Directs IFSC Banking Units to Report OTC Trades to CCIL

By Editors | 20/05/2020

IFSC banking units are required to report their OTC foreign exchange, interest rate and credit derivative transactions to CCIL’s reporting platform from 1 June.

Clearing & Post-Trade

Clearstream, Euroclear Appoint First Chinese Bank as Common Depository

By Editors | 20/05/2020

As a common depository, CCB (Asia) will facilitate access to the international capital markets for Chinese issuers, and provide APAC investors easier access to the Eurobond market.

Structural Regulation

S. Korea Set to Implement Asia Region Funds Passport

By Editors | 20/05/2020

Korea will join Japan, Thailand, Australia and New Zealand in implementing ARFP on 27 May, paving the way for cross-border sales of eligible publicly offered local funds.

Operational Risk

MAS Guidance for Safe Reopening of FIs’ Client-Facing Locations

By Editors | 20/05/2020

FIs will be allowed to reopen more customer service locations from 2 June. MAS will take action against FIs that fail to comply with safe management requirements.

Conduct, Culture & Accountability

SFC Fines Convoy Asset Management Over Bond Sales

By Editors | 20/05/2020

The firm failed to comply with product due diligence requirements, client suitability obligations and specific guidance on the sale of fixed income products.

Structural Regulation

New Listing Rules at Nasdaq to Impede Chinese IPOs – Reports

By Editors | 19/05/2020

Nasdaq will put a minimum $25mn value on the size of IPOs, making it harder for some Chinese firms to pursue a listing. A delisting notice has been filed against Luckin Coffee.

Structural Regulation

HSI Operator to Allow Dual Class Shares as Index Constituents

By Editors | 19/05/2020

WVR and secondary-listed companies from the Mainland will be eligible for including in the HSI and HSCEI. H-share companies with unlisted share capital will also be eligible.

Trading & Investment

FSC Korea to Rein in Excessive Investment in Risky ETFs, ETNs

By Editors | 19/05/2020

The FSC will impose a new minimum deposit requirement on retail investors investing in ETFs and ETNs, and require them undergo mandatory investor education, among other measures.