Japan

Exchange of Letters on co-operation in the area of banking supervision with APRA. The Financial Services Agency announced that it exchanged Letters on co-operation in the area of banking supervision with the Australian Prudential Regulation Authority (APRA) on August 9, 2016. (8/16/2016)

FSA publishes status of loans held by all banks as of the end of March 2016.The FSA published the status of loans held by all banks as of the end of March 2016, based on the Financial Reconstruction Act. The total amount of such loans is 8.4 trillion yen, a figure that decreased by 0.8 trillion yen from 9.1 trillion yen as of the end of March 2016. (8/12/2016)

Hong Kong

Regulators announce Shenzhen-Hong Kong Stock Connect. The Securities and Futures Commission (SFC) and the China Securities Regulatory Commission (CSRC) announced the approval of the structure of Shenzhen-Hong Kong Stock Connect, which will provide mutual stock market access between Hong Kong and Shenzhen via a northbound trading link and a southbound trading link. Effective immediately, the aggregate quota is abolished under Shanghai-Hong Kong Stock Connect. (8/16/2016)

SFC issues first-quarter report. The SFC announced publication of its Quarterly Report summarizing key developments from April to June 2016. Among the highlights was the launch of a joint public consultation by the SFC and Hong Kong Exchanges and Clearing Limited on proposed enhancements to The Stock Exchange of Hong Kong Limited’s decision-making and governance structure for listing regulation. (8/15/2016)

Singapore 

MAS sets out strategies for electronic payments in Singapore. The Monetary Authority of Singapore articulated strategies to promote electronic payments in Singapore, and published a “Singapore Payments Roadmap.” (8/19/2016)

Australia

ASIC repeals sunsetting class order on managed investment schemes. ASIC has repealed a Class Order that is due to sunset on April 1, 2017. Class Order [CO 02/226] Managed investment schemes: no issue required disclosure was repealed as ASIC considers it is no longer required and does not form a necessary and useful part of the legislative framework. (8/19/2016)

ASIC consults on audit relief for proprietary companies and reporting relief for wholly owned companies. ASIC issued Consultation Paper 267 Remaking and repealing ASIC class orders on audit and financial reporting proposing to remake three class orders that are due to sunset on October 1, 2016, and April 1, 2017. The class orders affect the audit of proprietary companies and financial reporting by wholly-owned entities. The consultation paper also seeks feedback on ASIC guidance documents on audit relief and on reporting relief for wholly-owned companies. Submissions on the consultation paper are due on September 12, 2016. (8/15/2016)

ASIC consults on sunsetting class orders about non-monetary consideration managed investment schemes. ASIC announced its release of Consultation Paper 266 (CP 266) Remaking ASIC class order on managed investment schemes: Not for money, in which it proposes to remake its class orders on non-monetary consideration managed investment schemes, which is currently due to sunset on April 1, 2017. Submissions on CP 266 are due by September 9, 2016. (8/10/2016)