Japan

GLOPAC publishes newsletter. The Global Financial Partnership Center (GLOPAC) announced publication of its newsletter. (6/30/2016)

Working Group on Payment and Transaction Banking publishes final report.The “Working Group on Payment and Transaction Banking” published the final report, “Strategies for Reforming Japanese Payment Systems.” (6/21/2016)

Working Group on Financial Group publishes final report. The “Working Group on Financial Group of the Financial System Council” published the final report,“Institutional Framework for Financial Groups.” (6/21/2016)

Hong Kong

SFC publishes annual review of SEHK’s performance in regulating listing matters. The SFC announced publication of its annual review of The Stock Exchange of Hong Kong Limited’s performance in its regulation of listing matters during 2014. (6/24/2016)

SFC publishes Annual Report 2015-16. The SFC announced that it has published its Annual Report 2015-16, which details regulatory enhancements that are currently in progress. (6/22/2016)

Singapore

MAS, IRAS propose regulations on standard for AEOI. The Monetary Authority of Singapore and the Inland Revenue Authority of Singapore (IRAS) proposed regulations to allow Singapore to implement the Standard for Automatic Exchange of Financial Account Information in Tax Matters (AEOI), also known as the Common Reporting Standard (CRS) to take effect on January 1, 2017. This is necessary in order for Singapore to meet her international commitment to commence AEOI under the CRS in 2018. (7/11/2016)

MAS releases CP on proposed legislative amendments for ERA. The MAS released a Consultation Paper on Proposed Legislative Amendments to Exempt Execution-Related Advice in respect of Listed Excluded Investment Products from the Financial Advisers Act. (6/29/2016)

MAS comments on market conditions. In response to media requests, the MAS said that Singapore’s interbank money markets continue to function in an orderly manner and its banking system remains sound, following the outcome of the UK’s referendum on EU membership. (6/24/2016)

RMB investments to be part of official foreign reserves. The MAS announced that it will be including its Renminbi (RMB) financial investments as part of its Official Foreign Reserves from June 2016 on. (6/22/2016)

Australia

ASIC cracks down on unlicensed retail OTC derivative providers. ASIC warned of a dramatic increase in the extent of unlicensed conduct by retail OTC derivative providers seeking to expand their market with new customers for complex and risky products such as binary options. (7/6/2016)

ASIC simplifies registration of company auditors. ASIC announced the release of revised Regulatory Guide 180 Auditor Registration (RG 180), which simplifies and improves the registration process for prospective auditors. (6/30/2016)

ASIC remakes sunsetting class order on financial product advice - exempt documents. On June 1, 2016, ASIC made a new legislative instrument to replace its class order on financial product advice - exempt documents that was due to sunset on April 1, 2017. ASIC has remade the class order following public consultation. (6/24/2016)

ASIC reports on decisions to cut red tape. ASIC announced the release of its latest report, Overview of decisions on relief applications (October 2015 to March 2016). (6/23/2016)