Comment letter on the Volcker Rule. The FSA and the Bank of Japan sent a comment letter to US regulators in response to the OCC’s request for input on revising the Volcker Rule. (9/21/2017)

Financial regulators of Japan and Abu Dhabi Global Market cooperate on FinTech. The FSA and the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM) announced the completion of a framework for cooperation to promote innovation in financial services in Japan and ADGM. (9/21/2017)

English guidebook for foreign asset managers to establish a business base in Japan. The Tokyo Metropolitan Government, with the cooperation of the FSA, compiled an English guidebook that clarifies the necessary procedures for foreign asset managers to establish a business base in Japan. This guidebook explains process and requirements regarding registrations under the Financial Instruments and Exchange Act depending on business types. (9/12/2017) FSA press release.

Hong Kong

SFC and Exchange conclude joint consultation on listing regulation. The SFC announced that it and The Stock Exchange of Hong Kong Limited have published the conclusions to their joint consultation on proposed enhancements to the Exchange’s decision-making and governance structure for listing regulation. (9/15/2017)

SFC and Securities Commission Malaysia sign FinTech cooperation agreement. The SFC announced that it has entered into an agreement with the Securities Commission Malaysia to establish a framework for cooperation on financial technology. (9/14/2017)


CP on changes to notification requirements in relation to representatives serving only non-retail customers. The MAS released a Consultation Paper in which it is proposing to streamline the Representative Notification Framework and apply the notification requirements only in respect of representatives who serve retail customers. Under the proposal, financial institutions (FIs) will not be required to submit notifications for their representatives who serve only non-retail customers as such customers are generally better able to protect their own interests. The proposed procedural change will reduce the administrative burden of FIs by reducing the number of notifications they have to lodge. Comments on the CP must be received by October 27, 2017. (9/25/2017)

MAS sets up International Advisory Panel for cybersecurity. The MAS announced that it has established a Cyber Security Advisory Panel, comprising cybersecurity thought leaders from around the world. (9/20/2017)

MAS and Securities Commission Malaysia collaborate to foster FinTech innovation and cross-border activities. The MAS announced that it and the Securities Commission Malaysia have signed a Cooperation Agreement to foster closer cooperation on FinTech and innovation in financial services between Singapore and Malaysia. (9/15/2017)


ASIC facilitates crowd-sourced funding by public companies. ASIC announced that it has released guidance for public companies and crowd-funding platform operators to support them in using the new crowd-sourced funding regime, which commences on September 29, 2017. See Regulatory Guide 261 Crowd-sourced funding: Guide for public companies (including template CSF offer document); Regulatory Guide 262 Crowd-sourced funding: Guide for intermediaries; Report 544 Response to submissions on CP 288 and CP 289 on crowd-sourced funding; ASIC Corporations (Amendment) Instrument 2017/817, which amends ASIC Corporations (Consents to Statements) Instrument 2016/72; ASIC Corporations (Amendment) Instrument 2017/821, which amends [CO 13/762], [CO 13/763] and ASIC Corporations (Nominee and Custody Services) Instrument 2016/1156; and ASIC Corporations (Financial Requirements for CSF Intermediaries) Instrument 2017/339.

ASIC remakes sunsetting class orders relating to mortgage offset accounts and factoring arrangements. ASIC announced that it has remade two class orders relating to mortgage offset accounts and factoring arrangements, which were due to expire on October 1, 2017. (9/19/2017)

2017-20 data strategy launched. ASIC announced that it has launched its data strategy for 2017-20. The strategy outlines how ASIC will capture, share and use data. (9/19/2017)

Response to feedback on REP 523 ASIC's Innovation Hub and approach to regulatory technology. ASIC announced the release of its response to industry feedback on ASIC's Innovation Hub and its approach to regulatory technology. (9/15/2017)