Hong Kong

Joint statement regarding the price volatility of GEM stocks. The SFC and The Stock Exchange of Hong Kong Limited (SEHK) announced that they issued a joint statement regarding the price volatility of stocks listed on the Growth Enterprise Market (GEM). The SFC also issued a guideline to provide guidance to sponsors, underwriters and placing agents on the standards of conduct expected of them in the listing and placing of GEM IPO stocks. (1/20/2017)

SFC signs MoU with SEC to enhance supervision of cross-border regulated entities. The SFC announced that it has entered into an MoU with the SEC providing for consultation, cooperation and exchange of information related to the supervision and oversight of regulated entities that operate on a cross-border basis in Hong Kong and the US. (1/19/2017)

Singapore

Financial reporting for business trusts and collective investment schemes. The MAS announced that registered business trusts will adopt a new Singapore financial reporting framework that is identical to the International Financial Reporting Standards, while authorized collective investment schemes will continue to prepare financial statements using accounting practices recommended by the Institute of Singapore Chartered Accountants. (1/19/2017)

Australia

ASIC consults on consolidating ASIC market integrity rules. ASIC announced that it has released a consultation paper proposing to consolidate and clarify Australia’s market integrity rules. Submissions on the consultation paper are due by March 7, 2017. (1/24/2017)

ASIC consults on proposed guidance for registered liquidators. ASIC announced its release of Consultation Paper 276 Registered liquidators: Registration, discipline and insurance requirements, covering proposals to reissue its guidance in Regulatory Guide 186 External administration: Liquidator registration and Regulatory Guide 194 Insurance requirements for registered liquidators, to reflect changes to the law enacted by the Insolvency Law Reform Act 2016. (1/19/2017)

Superannuation funds to start disclosing subplan information on websites from July 1, 2017. ASIC announced that it has written to trustees of superannuation funds with employer subplans reminding them of the requirement to publicly disclose transparency information for those subplans starting on July 1, 2017. (1/19/2017)