Markets & Infrastructure

Trading & Investment

Cambodia Set to Launch First Ever Corporate Bond

By Editors | 29/08/2018

The country’s third largest microfinance institution has obtained approval from the central bank, and is now seeking final approval from the securities regulator and exchange.

Structural Regulation

CSRC Outlines Rules for Foreign-Invested Futures Firms

By Garima Chitkara | 28/08/2018

Securities regulator set out requirements for firm shareholders, senior management and application documents. Foreign-funded futures firms must hold all core consumer data and transaction data servers on the mainland.

Structural Regulation

Baidu’s Fintech Arm Receives Fund Distribution Licence

By Garima Chitkara | 28/08/2018

A unit of Du Xiaoman, a Baidu subsidiary, received a fund distribution licence from the CSRC and will have six months to complete preparatory work. It will also need to apply for a securities and futures license.

Payments & Settlements

HK-China Bond Connect Enables DvP Settlement

By Editors | 27/08/2018

A key demand from international investors, a real-time delivery-versus-payment settlement system has now been implemented on the Bond Connect.

Tokenisation

MAS, SGX to Develop Cross-Platform DvP Settlement of Tokenised Assets

By Manesh Samtani | 27/08/2018

Nasdaq, Deloitte and Anquan appointed as technology partners to enable simultaneous exchange and settlement of tokenised digital currencies and securities assets using blockchain technology.

Supervision & Enforcement

NAB, CBA Could Face Criminal Charges: Australian Royal Commission

By Garima Chitkara | 27/08/2018

Misconduct findings by the Australian Royal Commission spanned the financial sector, notably singling out ASIC and APRA as lacking authority and questioning if they were up to the job of protecting customers.

Cryptocurrency

The Rise of the Crypto Hedge Fund: Opportunities and Challenges

By Hannah Cassidy | 27/08/2018

Cryptocurrency is fast establishing itself as a mainstream asset class, evident from the emergence of several new crypto hedge funds. However, given the complex regulatory and operational issues involved, it is important for firms to review crypto-related projects carefully and engage with regulators early to avoid costly surprises and delays.

Structural Regulation

HKEX Unveils Details of New Northbound Investor ID Regime

By Garima Chitkara | 27/08/2018

HKEX to launch secure file transfer protocol service for exchange participants later this month to ensure smooth transition to new investor ID regime for northbound trading, set for 17 September.

Supervision & Enforcement

EY, Two Partners Fined for Audit Failures on 20-Year Old Stock Listings

By Garima Chitkara | 27/08/2018

EY and two of its partners were collectively fined HK$700,000 plus HK$1.5mn in legal costs for failing to properly audit the financial statements of three firms that went bust soon after being listed.