Hong Kong

SFC hosts IOSCO board meeting in Hong Kong. SFC announced that a meeting of the Board of the International Organization of Securities Commissions (IOSCO) in Hong Kong on October 20-21 focused on issues facing securities regulators and global financial markets. The IOSCO board discussed ways to advance the organization’s agenda for financial regulatory reform and also reviewed the progress of IOSCO’s work on margin requirements, central counterparties, asset management and market conduct. (10/24/2016)

SFC commences cybersecurity review on brokers’ internet and mobile trading systems. The SFC announced its launch of a review to assess the cybersecurity preparedness, compliance and resilience of brokers’ internet and mobile trading systems. The review followed several reports from securities brokers that the security of some customers’ Internet and mobile trading accounts has been compromised and unauthorized securities trading transactions were conducted through these accounts. (10/13/2016)

Singapore 

Macroeconomic Review. The MAS announced publication of the Macroeconomic Review, which provides information on the Economic Policy Group’s background analysis and assessment of GDP growth and inflation developments in the Singapore economy.

Singapore and South Korea sign cooperation agreement in FinTech. The MAS announced that it signed a cooperation agreement with the Korean Financial Services Commission (KFSC) to foster greater cooperation in FinTech. Pursuant to the agreement, MAS and KFSC will explore potential joint innovation projects on technologies such as big data and mobile payments. MAS and KFSC will also discuss issues of common interest, and share information on FinTech trends and how it may impact existing regulations. (10/24/2016)

Singapore and the Government of Andhra Pradesh sign FinTech cooperation agreement. The MAS announced that it signed a FinTech Cooperation Agreement with the Government of Andhra Pradesh (GoAP) to promote innovation in financial services in their respective markets. Pursuant to the agreement, MAS and GoAP will explore joint innovation projects on technologies such as digital payments and blockchain, and collaborate on the development of education programs/curricula on FinTech. MAS and GoAP also agreed to discuss emerging FinTech trends and exchange views on regulatory issues related to innovations in financial services. (10/22/2016)

Singapore Hosts First EU - Asia-Pacific Forum on Financial Regulation. The MAS announced that it hosted regulators from the European Union and the Asia-Pacific Region at the inaugural EU-Asia-Pacific Forum on Financial Regulation.
(10/14/2016)

Australia

Kenyan and Australian regulators sign agreement to support FinTech innovation. The Capital Markets Authority of Kenya and ASIC announced that they have signed a Cooperation Agreement that aims to promote innovation in financial services in their respective markets. (10/21/2016)

ASIC remakes expiring class order on rights issue notifications and repeals expiring class order on money market deposits. ASIC announced that it has made a new legislative instrument to replace Class Order Rights issue notifications, which was due to expire on April 1, 2017. The new legislative instrument is ASIC Corporations (Renounceable Rights Issue Notifications) Instrument 2016/993. ASIC has also repealed Class Order Money market deposits, which was due to expire on April 1, 2017. (10/18/2016)

ASIC consults on four expiring class orders on registered managed investment schemes. ASIC announced that it has released a consultation paper proposing to remake four class orders on registered schemes, which are due to expire between October 1, 2017 and April 2018. The instruments that ASIC proposes to remake are Class Order [CO 98/50] Incorporating parts of other compliance plans; Class Order [CO 98/60] Protecting class rights in a managed investment scheme; Class Order [CO 98/1806] Related bodies corporate and external members of compliance committee; and Class Order [CO 98/1808] Allowing constitutions to use Appendix 15A of the ASX Listing RulesConsultation Paper 270 Remaking ASIC class orders on registered schemes outlines ASIC’s rationale for proposing to remake the class orders. Submissions on CP 270 are due by November 25, 2016. (10/14/2016)

ASIC issues statement on review of ASX technical failure on September 19.ASIC issued a statement on the technical failure that the ASX equity market experienced on September 19th, impacting the market’s proper operation.
(10/14/2016)

ASIC clarifies guidance for forward-looking statements in the mining and resources industry. ASIC announced that it has re-issued an updated Information Sheet 214 Mining and resources: Forward-looking statements, on statements relating to future matters commonly made in the mining and resources industry. (10/12/2016)

ASIC consults on expiring class order on managed investment scheme buy-backs and updates to related guidance. ASIC announced its release of Consultation Paper 269 Remaking ASIC class order on managed investment scheme buy-backs and updating related guidance, proposing to remake its class order on managed investment scheme buy-backs, currently due to expire on April 1, 2018, and proposed changes to platforms policy. Submissions on the consultation paper are due by November 23, 2016. (10/12/2016)