Nasdaq

Enforcement

CSRC Accuses Guangdong Fund Manager of Lying to Investors

By Editors | 24/05/2020

Guangdong-based Cornerstone Management reportedly lost 70% in two funds after promising a minimum 8% annual return.

Securities / Derivatives

New US Law Could Force Chinese Companies to De-list

By Editors | 21/05/2020

New legislation passed in the US Senate will require companies to submit to an audit that can be reviewed by the PCAOB, and de-list firms that at noncompliant for three years.

Enforcement

New Listing Rules at Nasdaq to Impede Chinese IPOs – Reports

By Editors | 19/05/2020

Nasdaq will put a minimum $25mn value on the size of IPOs, making it harder for some Chinese firms to pursue a listing. A delisting notice has been filed against Luckin Coffee.

ESG / Sustainability

Nasdaq Launches Service to Track ESG Impact of Investments

By Editors | 18/05/2020

‘ESG Footprint’ helps investors track a wide range of sustainability criteria, including carbon footprint, board diversity and companies flagged for human rights issues.

Securities / Derivatives

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.

Securities / Derivatives

CSRC Eases Market Cap Requirement for CDR Issuance

By Editors | 04/05/2020

Innovative Chinese companies listed overseas will be eligible to list depositary receipts at home with just $2.8bn in market cap, compared to $28bn under 2018 rules.

Enforcement

CSRC Vows Cross-border Cooperation in Luckin Fraud Case

By Editors | 28/04/2020

The CSRC has been communicating with US regulators, looking to deepen cross-border cooperation to combat misconduct and fraud and to protect investors.

Enforcement

China: Luckin Investors Launch Lawsuit Under New Securities Law

By Editors | 26/04/2020

A lack of cross-border regulation presents a challenge to holding Luckin Coffee entities and executives to account for alleged misconduct and fraud.

AML / KYC

Tiger Brokers NZ, Six Others Get Formal Warning for AML Failures

By Editors | 06/04/2020

A public warning was issued to NZX-accredited Tiger Brokers, and six additional private warnings unnamed businesses or individuals.