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Reporting on regulatory frameworks and rules governing market design, authorisation, and oversight of key financial market participants and infrastructures.
Structural Regulation
China Scraps QFII, RQFII Quotas; Simplifies Outbound Remittance Rules
By Editors | 08/05/2020
QFII and RQFII investors will merely need to go through a registration process to invest in China. Requirements on outbound remittances and currency exchange have also been simplified.
Trading & Investment
Charles Li to Step Down as HKEX Chief Executive Next Year
By Editors | 07/05/2020
Charles Li has been chief executive for over 10 years, and is credited with the launch of Stock Connect, Bond Connect, HKEX’s new listing regime and its dual class share system.
Structural Regulation
Japan to Propose Easier Fintech Investment Rules for Banks – Report
By Editors | 07/05/2020
The proposal includes scrapping a requirement for bank holding companies to obtain FSA approval to acquire more than 15% of nonfinancial companies.
Conduct, Culture & Accountability
SFC Fines Mega International Commercial Bank Over Sales Practices
By Editors | 07/05/2020
Mega did not properly assess clients’ investment objectives, risk tolerance levels and knowledge of derivatives, or ensure the suitability of its fund recommendations for clients.
Structural Regulation
EU Benchmark Equivalence Regime Not Scalable: ISDA, FIA
By Manesh Samtani | 07/05/2020
While the Associations welcome the legal approach taken, they highlight that the draft equivalence decision excludes the widely referenced Nikkei and JPX benchmarks.
Structural Regulation
US SEC Green-lights Launch of New Stock Exchange, MEMX
By Editors | 07/05/2020
Backed by some of Wall Street’s largest financial institutions, MEMX says it will offer a less expensive exchange model; fewer, less complex order types; and a basic market data feed.
Trading & Investment
DBS Prices Singapore’s First SORA-based Floating Rate Notes
By Editors | 06/05/2020
DBS has priced the first floating-rate notes referencing SORA, identified last August as Singapore’s alternative interest rate benchmark to SOR.
Trading & Investment
FSC Designates Six Brokers to Specialise in SME Investment
By Editors | 06/05/2020
The designation will be valid for two years, allowing the brokers to receive preferential policy incentives for boosting investment in SMEs.
Structural Regulation
Singapore Allows Electronic Dissemination of Offer Documents
By Editors | 06/05/2020
Electronic dissemination will enable rights issues and takeover or merger transactions to take place while reducing the need for staff to be physically present at workplaces.
Clearing & Post-Trade
Industry Bodies Request Margin Exemption Extensions under EMIR
By Manesh Samtani | 06/05/2020
ISDA and other industry associations are asking for equivalence decisions for all jurisdictions that have implemented margin rules in line with the BCBS-IOSCO framework.
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