ASIC updates guidance on the use of the internet for selling securities. The Australian Securities & Investments Commission issued updated guidance to facilitate and encourage the use of the internet and other interactive media for making offers of securities. The updated guidance includes an explanation of ASIC’s view on the way that the internet and other electronic means can be used to make offers of securities, a “good practice guide” and continuation of relief for the use of personalized or Australian financial services licensee created application forms. (3/3/2014) ASIC press release.

Hong Kong proposes rules for alternative liquidity pools. The Hong Kong Securities and Futures Commission opened a consultation concerning the future regulation of alternative liquidity pools (ALPs), which are also known as alternative trading systems and “dark pools.” The SFC proposes to enhance and standardize the regulatory obligations imposed on Hong Kong licensed corporations that operate ALPs, by including within the Code of Conduct comprehensive requirements governing their operation. Consequently, the SFC will cease its current practice of imposing conditions on the licenses of ALP operators on a case-by-case basis. Comments should be submitted by April 25, 2014. (2/27/204) SFC press release.

UK and Singapore establish financial dialogue. The UK and Singapore have agreed to establish a UK-Singapore Financial Dialogue, which will focus on deepening financial and economic cooperation between the two countries. Ministers from both countries also agreed to support the establishment of a new, private sector forum to boost the development of the offshore Renminbi market. The forum will be led by the private sector and focus on increasing cooperation between the UK and Singapore markets. (2/25/2014) MAS press release.