Report published on ensuring fair and timely disclosure of information to investors. The FSA announced that the Task Force on Fair Disclosure Rule of the Working Group on Financial Markets of the Financial System Council has published the “Report - Ensuring fair and timely disclosure of information to investors.” (3/3/2017)

Hong Kong

SFC proposes to standardize rules for prescribing professional investors. The SFC announced that it has launched a consultation on proposed amendments to the Securities and Futures (Professional Investor) Rules to allow joint accounts with non-associates and assets held in investment vehicles owned by individuals to be counted in determining whether individuals meet the monetary threshold to qualify as professional investors. In addition, the categories of professional investors would be expanded. Alternative forms of evidence would also be allowed to demonstrate qualification as a professional investor. (3/1/2017)


MAS announces establishment of Corporate Governance Council to review the Code of Corporate Governance. The MAS announced that it has formed a Corporate Governance Council to review the Code of Corporate Governance. The Council will be chaired by Chew Choon Seng, former Chairman of the Singapore Exchange. (2/27/2017)

Second CP and response to feedback received on proposed revisions to MAS Notice 610 and MAS Notice 1003 - Submission of Statistics and Returns. The MAS published Second Consultation Paper and Response to Feedback Received: Proposed Revisions to MAS Notice to Banks 610 and MAS Notice to Merchant Banks 1003 - Submission of Statistics and Returns. Comments on this CP should be submitted by March 20, 2017. (2/22/2017)


ASIC remakes expiring class orders about internet offers, hawking and PDS obligations. ASIC announced that it has remade two legislative instruments, and repealed one, that were due to expire in April 2017. The following instruments have been remade: [CO 02/246] Offers of securities on the internet has been remade into ASIC Corporations (Offers over the internet) Instrument 2017/181; and [CO 02/641] Hawking: Securities and managed investments has been remade into ASIC Corporations (Securities and Managed Investment Scheme Hawking Relief) Instrument 2017/184. (3/7/2017)

ASIC issues new guidance for registered liquidators. Following consultation, ASIC announced that it has released new Regulatory Guide 258 Registered liquidators: Registration, disciplinary actions and insurance requirements. RG 258 explains how to apply for registration as a liquidator, including the requirements a person must meet to become a registered liquidator; the renewal of registration process; the disciplinary and other actions that a registered liquidator may be subject to; and ASIC’s policy on adequate and appropriate insurance. (3/1/2017)

ASIC reports on corporate finance regulation July to December 2016. ASIC announced that it has published its sixth report on the regulation of corporate finance issues in Australia. Report 512 ASIC regulation of corporate finance: July to December 2016 (REP 512) provides statistical data, highlights key focus areas, and includes relevant guidance about ASIC’s regulation of fundraising transactions; mergers and acquisitions; corporate governance issues; related party transactions; and financial reporting. (2/24/2017)

ASIC updates its guidance on fee disclosure statements. ASIC announced its release of an updated Regulatory Guide 245 Fee disclosure statements to reflect regulatory and legislative changes since the guide was first published, including revisions to the Future of Financial Advice (FOFA) reforms. (2/22/2017)