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Reporting on regulatory frameworks and rules governing market design, authorisation, and oversight of key financial market participants and infrastructures.
Tokenisation
UPDATED – BaFin Says Binance Stock Tokens Violate Securities Laws
By Sanday Chongo Kabange | 05/05/2021
The tokens require the publishing of a prospectus, “minimum information required by law” for the sale of an investment product.
Structural Regulation
Australia Consults on New Requirements for Proxy Advisers
By Ranamita Chakraborty | 05/05/2021
The Treasury is proposing that proxy advisers be required to obtain an AFS License, among other requirements aimed at increasing transparency.
Conduct, Culture & Accountability
SEBI Issues Compensation Guidelines for Fund Managers
By Editors | 05/05/2021
20% of compensation of key AMC employees must be paid in the form of units of the mutual fund schemes in which they have a role or oversight.
Structural Regulation
Australia Enhances Super Fund Performance Test in Draft Bill
By Ranamita Chakraborty | 04/05/2021
Industry bodies broadly support the inclusion of administrative fees in the performance test, though an extra one million super accounts could fail the test as a result.
Trading & Investment
China: Policy Banks Pilot Direct Bidding Mechanism for Bond Issuance
By Editors | 04/05/2021
The pilot could mark a significant revamp in how bond issuance is carried out in China, and is seen as another step by the government to attract foreign capital.
Structural Regulation
Canada Establishes Regulatory Regime for Financial Benchmarks
By Editors | 03/05/2021
Once the regime is implemented, CDOR will become a designated benchmark with Refinitiv Benchmarks Services formally designated as its administrator.
Trading & Investment
PBOC Approves Deutsche Bank as Qualified Primary Dealer
By Editors | 03/05/2021
Deutsche Bank has become the first Eurozone bank to be approved as a qualified primary dealer in China.
Structural Regulation
FCA Proposes Rule Changes to Encourage SPAC Listings
By Sanday Chongo Kabange | 03/05/2021
The FCA proposes to exempt SPACs that identify an acquisition target from being suspended, if they have certain investor protections in place.
Trading & Investment
China Consults on Expanded Scope of Futures Law
By Sanday Chongo Kabange | 03/05/2021
The revised draft expands the scope of the law to also cover “other derivatives”, while also raising penalties for violations.
Conduct, Culture & Accountability
ASIC Finds Client Detriment in Review of IOOF Licensees
By Ranamita Chakraborty | 03/05/2021
In a statement, IOOF said that the advice file reviews highlighted by ASIC were already part of its existing remediation programmes of work.
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