Those who report on wrongdoing within their firms are now better protected from reprisal by their employers, the Australian Securities and Investments Commission (ASIC) said in a statement.
Asia-Pacific
China plans more cash management product rules
China is apparently planning tougher rules on the pricing and fund inflows into the $2tn cash management products (CMP) industry.
China to further open up foreign ownership of financial firms
China premier Li Keqiang said the country is to scrap all limits on the foreign ownership of Chinese financial firms in 2020, a year earlier than originally flagged.
Australian regulators press banks to act on Libor transition
Several CEOs of large Australian banks have received a joint letter from three Australian regulators urging them to plan for the end of the London interbank offer rate (Libor).
Singapore ponders digital only bank licences
Singapore could be set to join other jurisdictions such as Hong Kong in setting up a special licencing regime for digital only banks to help maintain its position as a cutting edge centre for technology.
ASIC chair outlines new approach to curbing misconduct
Australia’s regulatory approach is all about promoting permanent cultural and behavioural change in institutions individually and the financial services industry more broadly, said James Shipton, chair of the Australian Securities and Investment Commission (ASIC).
Hong Kong’s regulators consult on aligning OTC derivatives regime with global standards
Hong Kong’s regulators are consulting on a series of measures so that the city’s over-the-counter (OTC) derivatives regime closely aligns with international standards.
Lost face, lost money: Hong Kong’s empty IPOs
Hong Kong has suffered a series of scandals involving companies listing on its stock market misrepresenting their businesses triggering a series of share price plunges and trading suspensions. The regulator is now fighting back to protect Hong Kong’s reputation as a key global capital market
Hong Kong regulators sound warnings over complex financial structures
Following an inspection of a mainland China-based banking group, Hong Kong’s regulators are asking financial institutions to “urgently” take steps to address risks that could result from complex and opaque structures.
Five new appointments to SFC advisory committee
Hong Kong’s financial secretary, Paul Chan Mo-po, has made a series of appointments and reappointments to the Securities and Futures Commission (SFC) advisory committee for a two-year period from June 1, 2019, to May 31, 2021.
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