Structural Regulation

Emerging Prudential Risks

CBIRC Overhauls Regulatory System for Trust Industry

By Editors | 20/03/2023

Trust companies have three years to adapt to the new rules, but plans for how they will do so need to be submitted to the CBIRC within 30 days.

Structural Regulation

New Zealand Financial Advice Regime Takes Full Effect

By Sanday Chongo Kabange | 20/03/2023

Transitional licences have expired. All advisers must now hold or operate under a full licence to provide regulated financial advice to retail clients.

Fraud, Scams & Cybercrime

LME Discovers Nickel Bags Containing Stones at Warehouse

By Editors | 19/03/2023

The already embattled LME is postponing the reopening of Asian trading to allow its warehouse operators to recheck warranted nickel.

Trading & Investment

KRX Chief Calls for Full Lifting of Short Selling Restrictions

By Editors | 19/03/2023

KRX chief Sohn Byung Doo says the complete resumption of short selling will help Korea win inclusion in MSCI’s developed markets index.

Structural Regulation

SFC Issues Guidance on New Mainland Rules for Overseas Listings

By Editors | 19/03/2023

The guidance covers disclosures of interests in Mainland issuers and the application of the Takeovers Code under the new Mainland regulations.

Structural Regulation

China to Establish New Party Commission to Oversee Financial Sector

By Editors | 17/03/2023

A new CCP-led “Central Financial Commission” will be responsible for high-level design, development and supervision of the financial sector and financial stability.

Structural Regulation

PCAOB Inspectors to Visit Hong Kong Auditors Next Week

By Editors | 17/03/2023

PCAOB inspectors will meet Deloitte and EY next week to prepare for audit inspections that will take place later this year.

Cybersecurity

US SEC Proposes New Requirements to Address Cyber Risks

By Editors | 16/03/2023

The proposals will enhance cyber and technology risk management requirements for key entities that underpin the US securities market.

Structural Regulation

ASIC Issues Interim Stop Orders on Three BT Funds

By Editors | 16/03/2023

ASIC said the TMDs for three funds were “broadly drafted and failed to define key concepts” and did not meet the “appropriateness requirements” under the DDO regime.