Public comments requested for “Working Group on Financial Markets.” The Working Group is requesting public comments to be discussed in its “Working Group on Financial Markets” meetings. (5/13/2016)
SFC CEO appointed Chair of IOSCO board. The Securities and Futures Commission announced that its Chief Executive Officer, Ashley Alder, has been appointed as Chair of the new Board of the International Organization of Securities Commissions at IOSCO’s annual conference in Lima. (5/13/2016)
First ever FinTech Bridge is established between Britain and Singapore.Singaporean officials and FinTech companies celebrated the launch of the UK’s first ever FinTech Bridge, which included the signing of a Regulatory Cooperation Agreement between the Financial Conduct Authority and the Monetary Authority of Singapore. The agreement will allow the regulators to refer FinTech firms to their counterparts worldwide. The agreement also sets out how the regulators plan to share and use information on financial services innovation in their respective markets. (5/11/2016) MAS press release.
ASIC consults on updated guidance to improve the disclosure of historical financial information disclosure in prospectuses. The Australian Securities & Investments Commission released a consultation paper proposing to update guidance in Regulatory Guide 228 Prospectuses: Effective disclosure for retail investors (RG 228). The updated guidance aims to assist companies and their advisers to better understand their disclosure obligations and to improve the quality of historical financial information disclosure in prospectuses. ASIC also noted the release by ASX of its consultation paper, updating ASX’s admission requirements for listed entities, which is intended to enhance listing standards and which includes proposals on financial information to be included in applications for admission under the assets test. Submissions on Consultation Paper 257Improving disclosure of historical information in prospectuses: Update to RG 228are due on July 7, 2016. (5/12/2016) ASIC press release.