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Trading & Investment
India Opens Voluntary Retention Route for FPIs
By Editors | 28/05/2019
The revised VRR scheme is open for allotment as of 27 May, allowing FPIs to invest in government securities and corporate debt up to an aggregate limit of $7.8bn.
Structural Regulation
Hong Kong, China Agree to Cooperate on Audit Regulation
By Editors | 28/05/2019
Hong Kong’s Financial Reporting Council will be able to access audit papers located in the mainland “through an effective mechanism and clear procedures”.
Trading & Investment
Regulatory Change Aggravated the CITIC-CLSA Culture Clash
By Peter Guy | 28/05/2019
Though the CLSA-CITIC fallout was characterised as a cultural clash, this narrative frays against the other challenges facing stock brokers and investment bankers, says Peter Guy.
Payments & Settlements
Decline in Correspondent Banking is Universal – CPMI
By Editors | 28/05/2019
Over the last seven years, active relationships in the global correspondent banking network have declined by about 20%, and the number of active corridors has fallen by roughly 10%.
Conduct, Culture & Accountability
SFC Fines China Merchants Securities for IPO Sponsor Failures
By Editors | 28/05/2019
China Merchants Securities was a joint sponsor with UBS – fined in March – for the 2009 IPO of China Metal Recycling, which was found to have fabricated financial information.
Structural Regulation
S. Korea FSC Rejects Remaining Internet-Only Bank Applicants
By Editors | 27/05/2019
The FSC will accept applications again during Q3 this year. Kiwoom Bank and Toss Bank can address their shortcomings and resubmit their applications.
Structural Regulation
HK to Suspend Stocks on Disclaimer, Adverse Audit Opinions
By Editors | 27/05/2019
Trading in a Hong Kong listed company will be suspended if the auditor issues a disclaimer or adverse opinion for any financial year commencing on or after 1 September 2019.
Trading & Investment
Sino-Japan ETF Connect Launched; Six Cross-Border ETFs Approved
By Editors | 27/05/2019
The announcement follows an ETF Connectivity Agreement signed by JPX and the SSE last month, where both agreed to establish an system for cross-listings of ETFs.
Tokenisation
MAS Sandbox Admits SGX-Backed Digitised Securities Platform iSTOX
By Editors | 27/05/2019
From within the sandbox, iSTOX is currently onboarding the first batch of issuers and investors who will participate in issuance and trading of digitised securities starting in 4Q 2019.
Structural Regulation
Myanmar Allows Foreign Banks to Set Up Local Subsidiaries
By Editors | 25/05/2019
Foreign banks will be able to enter the retail banking space and operate as local banks by setting up subsidiaries, rather than just branches.
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