ASIFMA mentioned in Regulation Asia story “HK’s Market Sounding Rules Could Impact Decision-making Dynamics”
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One of the key issues is that of definition of non-public information. According to Patrick Pang, head of compliance and tax at the Asia Securities Industry and Financial Markets Association the industry (ASIFMA) already bases itself around the concept of material non-public information (MNPI). “The industry is grappling with the proposed guidelines that apply to communications on all ‘non-public information’, irrespective of whether the same information constitutes ‘inside information’,” he said.