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Reporting on regulatory frameworks and rules governing market design, authorisation, and oversight of key financial market participants and infrastructures.
Tokenisation
SFC Issues Warning on Unregulated Virtual Asset Platforms
By Editors | 18/07/2021
Soon after the SFC’s statement, Binance announced that stock tokens will no longer be available for purchase on its website.
Data Privacy
China to Exempt Hong Kong IPOs from Cybersecurity Reviews
By Editors | 18/07/2021
Chinese officials have reportedly outlined an exemption from the requirement to undergo a cybersecurity review for companies destined for a Hong Kong IPO.
Trading & Investment
Korean Regulators Ramp Up Scrutiny of IPO Valuations
By Ranamita Chakraborty | 18/07/2021
Listing applicants in Korea have recently had to lower their IPO pricing to address FSS concerns over high valuations.
Trading & Investment
HKMA Publishes Criteria for PE Funds Seeking Tax Concession
By Editors | 18/07/2021
A fund should have operating expenditure incurred in Hong Kong for the provision of investment management services amounting to at least HK$2mn.
Trading & Investment
CFTC Set to Formally Adopt of ‘SOFR First’ Initiative
By Editors | 18/07/2021
SOFR First has four phases, starting with the adoption of SOFR instead of LIBOR as the default rate for USD linear swaps from 26 July 2021.
Trading & Investment
ESMA Outlines Disclosure Expectations for SPACs
By Sanday Chongo Kabange | 18/07/2021
The guidance is aimed at enhancing the comprehensibility and comparability of SPAC prospectuses and ensuring investors are adequately protected.
Structural Regulation
ASIC Proposes Additional Guidance on Litigation Funding
By Ranamita Chakraborty | 17/07/2021
ASIC proposes to grant relief from the equal treatment duty to enable the effective distribution of a resolution sum obtained in a class action.
Structural Regulation
CSRC Proposes New Rules for Subsidiaries of Futures Companies
By Editors | 17/07/2021
CNY 300 million in net capital will be required for a futures company to establish a subsidiary. The activities of overseas subsidiaries will be restricted.
Trading & Investment
Axis Bank Announces First Derivative Transaction Linked to SOFR
By Ranamita Chakraborty | 17/07/2021
SOFR is expected to be the most widely accepted benchmark rate used to replace LIBOR and MIFOR in India.
Conduct, Culture & Accountability
Hong Kong Stock Exchange Issues Revised Enforcement Policy
By Matt Emsley | 16/07/2021
Herbert Smith Freehills partners explain the implications of the Hong Kong Stock Exchange’s updated policy statement on Listing Rule enforcement.
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