Structural Regulation

Structural Regulation

Singapore Finalises Tax Framework for VCCs

By Editors | 07/08/2019

An umbrella VCC needs to file a single corporate income tax return, regardless of the number of sub-funds. GST and stamp duty will be applied at the sub-fund level.

Structural Regulation

RBNZ Consults on New Regulatory Regime for FMIs

By Editors | 07/08/2019

The RBNZ is consulting on a draft bill that sets out New Zealand’s new regulatory regime for financial market infrastructures.

Structural Regulation

Cayman ‘Economic Substance’ Rule Hits Hong Kong Hedge Funds

By Editors | 06/08/2019

The new rule requires investment managers to demonstrate ‘economic substance’ in Cayman to continue operating by setting up offices, moving teams over or outsourcing activities to local firms.

Structural Regulation

Indonesia to Ease Rules on Bank Mergers, Including for Foreign FIs

By Editors | 06/08/2019

The rules currently require acquiring banks to merge all their local operations into a single entity, but this has proved unpopular among foreign lenders seeking to expand Indonesia operations.

Trading & Investment

SEBI Proposal Stricter Rules for Portfolio Managers

By Editors | 06/08/2019

SEBI proposes a higher net worth requirement, a higher minimum investment, and standardised performance reporting for portfolio managers, among other changes.

Structural Regulation

Morgan Stanley, JP Morgan Take Control of China JVs

By Editors | 06/08/2019

Morgan Stanley has become the latest foreign firm to control a securities JV in China, while JP Morgan becomes the first foreign firm to own a majority stake in an asset management JV.

Trading & Investment

SSE, SZSE Set to Allow Trading in HK-Listed Dual Class Shares

By Editors | 05/08/2019

The Shanghai and Shenzhen stock exchanges are consulting on rule changes that will allow Chinese investors to trade Hong Kong-listed dual-class shares via Stock Connect.

Structural Regulation

Singapore: Two-Thirds of Consumers Willing to Try Digital Banks

By Editors | 03/08/2019

A JD Power survey has found that 65% of Singapore customers are interested in opening digital bank accounts. The survey ranked HSBC first, OCBC second and DBS third in customer satisfaction.

Cryptocurrency

Global Crypto Trading Should be Guided by IOSCO Principles: WFE

By Editors | 03/08/2019

“Innovation which has the potential to present systemic risk or is allowed to operate in an unchecked or unregulated manner is detrimental to financial markets and investor interests.”