Launch of the Financial Market Entry Consultation Desk. The FSA announced its launch of the “Financial Market Entry Consultation Desk” to give advice on Japan’s financial regulations to foreign financial business operators (e.g., asset management firms) which plan to establish a business base in Japan. (3/31/2017) 

Exchange of Letters for Cooperation in the area of banking supervision with the National Bank of Belgium. The FSA exchanged the Letters for Cooperation in the area of banking supervision with the National Bank of Belgium (NBB). (3/31/2017) 

Amendment to letters exchanged with Financial Regulatory Commission of Mongolia. The Financial Regulatory Commission of Mongolia and the FSA agreed to amend the letters exchanged between them, concerning sharing of experience and expertise. (3/28/2017) 

Results of field tests of economic value-based evaluation and supervisory method. The FSA has conducted field tests of economic value-based evaluation and supervisory method covering all insurance companies, and summarized the results. (3/28/2017)

Hong Kong 

SFC approach to certain project companies seeking a listing in Hong Kong and the exercise of powers under the Securities and Futures Rules. The SFC announced its publication of a statement explaining its approach to the listing of certain infrastructure project companies in Hong Kong. In particular, given the specific circumstances of those companies, the SFC explained the factors that it would take into account when reviewing the proposed listing of those infrastructure project companies in Hong Kong. (4/11/2017)


Singapore and France bolster FinTech ties with cooperation agreements. The MAS announced that it signed cooperation agreements with the Autorité de Contrôle Prudentiel et de Résolution and the Autorité des Marchés Financiers of France to enhance FinTech cooperation between both countries. (3/27/2017) 

MAS proposes a new corporate structure for investment funds. The MAS announced that it has commenced a public consultation on a new corporate structure for investment funds – the Singapore Variable Capital Company. (3/23/2017) 

Consultation Paper on proposed framework for Singapore variable capital companies. The MAS published its Consultation Paper on the Proposed Framework for Singapore Variable Capital Companies, in which the MAS proposes to set up a legislative framework for a new corporate structure that is tailored for collective investment schemes. Comments must be submitted by April 24, 2017. (3/23/2017) 


ASIC consults on establishing a Financial Services Panel. ASIC announced that it has released a consultation paper on its proposal to develop and implement a Financial Services Panel, which would add a strong element of peer review to ASIC’s administrative decision making processes. Submissions on Consultation Paper 281 Financial Services Panel (CP 281) are due by May 23, 2017. (4/11/2017)

ASIC releases further report on emerging market issuers. ASIC announced its publication of Report 521 Further review of emerging market issuers, which discusses ASIC’s views on emerging market issuer activity. (4/6/2017) 

ASIC extends the relief provided for foreign collective investment schemes for two years. ASIC announced that it has extended Class Order [CO 04/526] Foreign collective investment schemes ([CO 04/526]) for two years. This class order was due to expire on April 1, 2017. ASIC Corporations (Repeal and Transitional) Instrument 2017/271. (4/3/2017) 

ASIC extends the relief provided for business introduction services for two years. ASIC announced its extension of Class Order [CO 02/273]  Business introduction or matching services [CO 02/273] for two years. The class order was due to expire on April 1, 2017. ASIC Corporations (Repeal and Transitional) Instrument 2017/186 extends the relief in [CO 02/273] in the same form for two years so that ASIC can review and consult on the policy settings of the relief. (3/29/2017) 

ASIC remakes sunsetting class order providing relief to foreign financial services providers with a limited connection to Australia. ASIC announced that, following public consultation, it has temporarily remade Class Order [CO 03/824] Licensing relief for foreign entities with limited connection to Australian wholesale clients in the ASIC Corporations (Foreign Financial Services Providers – Limited Connection) Instrument 2017/182The new instrument continues to provide licensing relief for foreign financial service providers with limited connection to Australia, providing financial services to wholesale clients, for a period of 18 months. (3/29/2017) 

ASIC establishes Financial Advisers Consultative Committee. ASIC announced the establishment of the Financial Advisers Consultative Committee, designed to improve industry engagement with its regulator, and revealed its initial membership. (3/29/2017) 

ASIC releases guidance on risk management systems of responsible entities. ASIC announced that it has released Regulatory Guide RG 259 Risk Management systems of responsible entities to provide additional guidance to responsible entities on our expectations for compliance with their existing obligation under the Corporations Act 2001 to maintain adequate risk management systems. (3/27/2017) 

ASIC updates its guidance on conduct and disclosure obligations for financial advisers. ASIC announced that it has updated Regulatory Guide 175 Licensing: Financial product advisers - conduct and disclosure to reflect regulatory and legislative changes, including revisions to the Future of Financial Advice reforms. (3/22/2017)