The Securities and Futures Commission (SFC) and Hong Kong Exchanges and Clearing Limited (HKEX) announced a jointly issued consultation on proposed enhancements to The Stock Exchange of Hong Kong Limited’s decision-making and governance structure for listing regulation. The three-month consultation ends on September 19th. Interested parties are invited to submit comments to the SFC or HKEX. (6/17/2016)

Julia Leung delivers keynote speech at ASIFMA-GFMA Market Liquidity Conference 2016. Julia Leung, now the SFC’s Executive Director, Intermediaries, delivered the keynote speech at ASIFMA-GFMA Market Liquidity Conference 2016, entitled “Liquidity Risk Management of Investment Funds.” (6/14/2016)

SFC appoints Acting Head of Investment Products. The SFC announced its appointment of Christina Choi as Acting Head of Investment Products, which became effective on June 19th. Ms. Choi will oversee the Investment Products Division pending the appointment of a permanent Executive Director of Investment Products to replace Ms. Julia Leung, who became Executive Director, Intermediaries on June 19th. (6/10/2016)

Singapore

Singaporean and Australian regulators sign agreement to support innovative businesses. The Monetary Authority of Singapore (MAS) and the Australian Securities and Investments Commission (ASIC) announced that they have signed an Innovation Functions Co-operation Agreement in an effort to help innovative businesses in Singapore and Australia in their foray into their respective markets. (6/16/2016)

MAS sets up dedicated departments to combat money laundering, strengthen enforcement. The MAS announced that it would set up dedicated departments to combat money laundering and strengthen enforcement respectively. The changes will take effect on August 1st. (6/13/2016)

MAS to improve access to crowdfunding for start-ups and SMEs. The MAS announced that it will make it easier for start-ups and Small and Medium Enterprises (SMEs) to access securities-based crowdfunding. (6/8/2016) 

Australia

ASIC releases report highlighting significant failures in the retail OTC derivatives industry. ASIC announced the release of a report detailing the findings of a recent surveillance program and identifying some serious and widespread compliance failures in the retail over-the-counter derivatives industry. (6/20/2016)

Singaporean and Australian regulators sign agreement to support innovative businesses. The MAS and ASIC announced that they have signed an Innovation Functions Co-operation Agreement, which aims to help innovative businesses in Singapore and Australia in their foray to the respective markets. The agreement will enable innovative FinTech companies in Singapore and Australia to establish initial discussions in each other’s market faster and receive advice on required licenses, thereby helping to reduce regulatory uncertainty and time to market. (6/16/2016)

ASIC consults on sunsetting class orders about rights issue notifications and money market deposits. ASIC announced the release of Consultation Paper 261Remaking and repealing ASIC class orders on rights issue notifications and money market deposits. CP 261 outlines ASIC’s proposals to remake a class order on rights issue notifications and repeal a class order on money market deposits. Both class orders are currently due to sunset on April 1, 2017. (6/15/2016)

ASIC reports on ASX’s listing standards. ASIC announced the release of its assessment report on the listing standards of the Australian Securities Exchange Limited (ASX), which concludes that up to this point in time ASX has met its statutory obligations. (6/14/2016)

ASIC consults on a regulatory sandbox licensing exemption. ASIC announced its release of a consultation paper on proposed further measures to facilitate innovation in financial services, including a regulatory sandbox licensing exemption. The closing date for submissions on CP 260 is July 22, 2016. (6/8/2016)

ASIC reports on supervision of registered liquidators for 2015. ASIC released its fifth annual report for the 2015 calendar year into the supervision of registered liquidators. Report 479 ASIC regulation of registered liquidators: January to December 2015 details the supervisory, enforcement, stakeholder liaison, policy and educative work ASIC undertook in its commitment to continue improving regulation of the insolvency and restructuring sector. (6/8/2016)