Structural Regulation

Fraud, Scams & Cybercrime

Hin Leong Files Suit Against Deloitte Over Auditing Failures

By Ranamita Chakraborty | 16/06/2021

The lawsuit claims Deloitte would have detected material misstatements and not issued unqualified opinions if its audits were carried out properly.

Trading & Investment

OCBC Obtains Approval to Convert LIBOR Bonds to SONIA

By Ranamita Chakraborty | 16/06/2021

OCBC has become the first Singapore bank to obtain approval from bondholders to replace GBP LIBOR with SONIA as the interest rate benchmark.

Structural Regulation

China Passes Law Establishing Hainan as Free Trade Port

By Sanday Chongo Kabange | 15/06/2021

The law states that Hainan will implement a “minimalist” investment approval system and create an “open, transparent, and predictable investment environment”.

Structural Regulation

CSRC Approves Launch of Daiwa Securities Joint Venture

By Editors | 15/06/2021

Daiwa Securities (China) Co will be able to provide brokerage and securities underwriting services. Operations will commence soon.

Structural Regulation

New Zealand FMA Grants Reporting Relief Amid Auditor Shortage

By Ranamita Chakraborty | 14/06/2021

Businesses affected by an auditor shortage in New Zealand will be allowed an additional month to comply with reporting requirements.

Structural Regulation

Shenzhen to Further Open to Foreign Financial Institutions

By Editors | 14/06/2021

Shenzhen’s five-year plan calls for the establishment of foreign-controlled securities firms, investment funds, futures companies and insurers in the city.

Trading & Investment

ISDA Consults on Fallbacks for GBP & USD LIBOR ICE Swap Rates

By Editors | 14/06/2021

Current fallbacks are not expected to be able to function effectively upon a permanent cessation of the GBP and USD LIBOR ICE Swap Rates.

Structural Regulation

Hong Kong Enacts Framework for Uncertificated Securities Market

By Editors | 13/06/2021

The SFC will consult the market on the subsidiary legislation in due course to prescribe the detailed rules and implementation timetable.

Structural Regulation

ASIC Extends Transitional Relief for Foreign Financial Services Firms

By Editors | 13/06/2021

ASIC is extending transitional relief provided under its new regulatory framework for foreign firms pending the outcome of the government’s announced reforms.