FSA publishes status of loans held by all banks as of end of September 2015. The Financial Services Agency published the status of loans that are held by all banks as of the end of September 2015, based on the Financial Reconstruction Act. The total amount of these loans is 8.6 trillion yen, a figure that decreased by 0.5 trillion yen as of the end of March 2015. (2/5/2016) FSA press release.
EU-Japan high level meeting on financial issues held. The 2016 EU-Japan High Level Meeting on Financial Issues was held in Tokyo on January 20th. The meeting provided a chance for senior officials from both sides to exchange views on the recent regulatory developments in the financial sector. (1/21/2016) FSA press release.
HK Stock Exchange finds that issuers need to improve financial dislosures.The Hong Kong Stock Exchange released its review of annual reports filed during 2014, finding that issuers need to improve disclosures about significant changes to financial performance and transactions involving related parties, among others. The HKSE’s yearly review of the annual reports helps it monitor companies’ compliance with the exchange’s listing rules and regulations. The latest review found that while the vast majority of issuers complied with the rules, specific areas of disclosure could be improved. (1/29/2016) Law 360.
MAS releases Consultation Paper on related party transaction requirements for banks. The Monetary Authority of Singapore released a Consultation Paper on related party transaction (RPT) requirements for banks. The requirements are designed to ensure that banks exercise appropriate oversight and control over their RPTs. (1/25/2016) MAS Consultation Paper.
Inaugural ASEAN financial regulators’ executive program held in Singapore.The MAS announced that it, in conjunction with the Temasek Foundation and the Lee Kuan Yew School of Public Policy, launched the inaugural ASEAN Financial Regulators’ Executive Programme. The program brings together senior officials from the ASEAN region and aims to equip them with conceptual and practical knowledge to create and implement sound financial policies. (1/24/2016) MAS press release.
ASIC consults on ‘sunsetting’ property and management class orders. The Australian Securities & Investments Commission announced that it has released a Consultation Paper proposing to remake eight class orders that are due to expire (sunset) between 2016 and 2018. The class orders relate to property, strata and management rights schemes. (2/8/2016) ASIC press release.