Asia Regulatory Review – ASIFMA

Bloomberg: ASIFMA in story “Understanding the Asia-Pacific Equities IOI Charter”

Abby Baker — Mon, 01 Feb 2021 06:01:47 +0000

The post Bloomberg: ASIFMA in story “Understanding the Asia-Pacific Equities IOI Charter” first appeared on ASIFMA.

Asia Regulatory Review: 1 – 26 April 2016 | Issue 296

Abby Baker — Tue, 19 Apr 2016 02:11:30 +0000

CHINA
Xi stresses cybersecurity, positive internet environment
President Xi Jinping has called for the comprehensive detection of internet risks to ensure online security. In his speech, Xi stressed the "correct outlook on cybersecurity" and called for the establishment of a system to protect information infrastructure in industries including finance, energy, telecommunications and transportation. He urged authorities to establish unified and effective mechanisms to report risks and share information. (Xinhua)

The post Asia Regulatory Review: 1 – 26 April 2016 | Issue 296 first appeared on ASIFMA.

Asia Regulatory Review: 12 – 19 April 2016 | Issue 295

Abby Baker — Tue, 12 Apr 2016 02:19:07 +0000

CHINA
No limit for investment by foreign banks, institutions in Chinese interbank market
China will not limit investments by foreign central banks and similar institutions in the Chinese interbank foreign exchange (FX) and bond markets, officials said. But foreign banks and institutions must abide by Chinese laws and regulations and register their investments in the interbank FX market with the China Foreign Exchange Trade System and register their bond investments with the People's Bank of China (PBOC), the central bank said on its official website. (Xinhua)

The post Asia Regulatory Review: 12 – 19 April 2016 | Issue 295 first appeared on ASIFMA.

Asia Regulatory Review: 6 – 12 April 2016 | Issue 294

Abby Baker — Wed, 06 Apr 2016 02:17:11 +0000

China revises risk management rules on securities firms
China's securities regulator is seeking to revise its risk management rules on securities firms to adapt to new changes in the industry. The China Securities Regulatory Commission (CSRC) released its draft plan to change the way it calculates net capital and risk capital requirement of securities firms. It also plans to adjust the indicators for leverage and liquidity regulation of the industry. The revised calculation will see the industry's net capital increase by around 20 percent and that of risk reserve capital rise two times, which will make the risk coverage indicator more "reasonable," according to the CSRC. (Xinhua)

The post Asia Regulatory Review: 6 – 12 April 2016 | Issue 294 first appeared on ASIFMA.

Asia Regulatory Review: 8 – 15 March 2016 | Issue 290

Abby Baker — Tue, 15 Mar 2016 02:23:33 +0000

CHINA. No circuit breaker in the next several years: China securities regulator
China will not relaunch the circuit breaker mechanism in its stock market in the next several years, Liu Shiyu, head of the securities regulator, said. In January, the circuit breaker mechanism, which halts trading when stock prices rise or fall by a certain percentage with intention of reducing volatility, was withdrawn abruptly after it panicked investors instead. (Xinhua)

The post Asia Regulatory Review: 8 – 15 March 2016 | Issue 290 first appeared on ASIFMA.

Asia Regulatory Review: 1 – 8 March 2016; Issue 289

Abby Baker — Tue, 08 Mar 2016 05:56:22 +0000

China sets deadline for VAT reform
Chinese finance minister said that business tax in all industries will be replaced by value-added tax (VAT) before May this year, a concrete step in deepening fiscal and taxation reform. "The progress in the VAT reform last year was slower than having planned, efforts would be made to meet the May 1 deadline," Lou Jiwei, minister of Finance, said at a press conference on the sidelines of the National People's Congress annual session. Starting from May 1, the replacement of business tax with VAT will be extended to construction, real estate, finance and consumer services, to ensure that the tax burdens on all industries be reduced, Premier Li Keqiang said in a government work report to the national legislature. (Xinhua)

The post Asia Regulatory Review: 1 – 8 March 2016; Issue 289 first appeared on ASIFMA.

Asia Regulatory Review: 23 February – 1 March 2016 | Issue 288

Abby Baker — Tue, 01 Mar 2016 06:23:37 +0000

G20 Finance Ministers and Central Bank Governors Meeting Communique
At the meeting, the Ministers and Governors discussed key global economic challenges, the policy agenda for the Hangzhou Summit and identified vulnerabilities to global economic prospects including, among other things, volatile capital flows, reduced commodity prices, geopolitical tensions and a potential UK exit from the EU.

The post Asia Regulatory Review: 23 February – 1 March 2016 | Issue 288 first appeared on ASIFMA.

Asia Regulatory Review: 16 – 23 February 2016 | Issue 287

Abby Baker — Tue, 23 Feb 2016 06:24:25 +0000

PBC Promulgates Regulatory Measures for Counter Business in China's Interbank Bond Market
The People's Bank of China (PBC) promulgated Administrative Measures for Counter Business in China's Interbank Bond Market on February 14, specifying all types of bonds and transactions in which qualified investors can invest through counter business. This measure is to promote the development of bond market and expand the proportion of direct financing, the PBC says. (NAFMII Newsletter)

The post Asia Regulatory Review: 16 – 23 February 2016 | Issue 287 first appeared on ASIFMA.

Asia Regulatory Review: 16 February 2016 | Issue 286

Abby Baker — Tue, 16 Feb 2016 02:22:58 +0000

HKEx - New Scheme Promotes HKEX's Currency, Stock and Metals Futures on Mainland
Hong Kong Exchanges and Clearing Limited (HKEX) has launched its Mainland Market Data Distribution Partnership Programme with information vendors (IVs) to further enhance market data distribution and marketing for its RMB Currency Futures, or USD-CNH Futures, stock futures and London Metal Mini Futures contracts (selected futures contracts). HKEX's new programme promotes wider availability of real-time data for the selected futures contracts, which are all likely to appeal to Mainland investors.

The post Asia Regulatory Review: 16 February 2016 | Issue 286 first appeared on ASIFMA.

Asia Regulatory Review: 26 January – 2 February 2016 | Issue 285

Abby Baker — Tue, 26 Jan 2016 02:24:32 +0000

Market-stabilizing policies right call, says Premier Li
Policies used to tide over last year's unusual volatility in the stock and exchange market were a right call, said Premier Li Keqiang in his first appearance after the Spring Festival holiday. Those market-stabilizing measures, consisting with international practice, defused some "bombs" over a period of time and warded off systematic financial risk, said Premier Li at an executive meeting of the State Council, according to Xinhua. However, authorities in charge should also draw lessons from the experience, address internal management issues and implement initiatives and take both timely and effective approach, added the Premier. (China Daily)

The post Asia Regulatory Review: 26 January – 2 February 2016 | Issue 285 first appeared on ASIFMA.

Asia Regulatory Review: 12 – 19 January 2016 | Issue 283

Abby Baker — Tue, 19 Jan 2016 02:26:27 +0000

Job opening at ASIFMA - Manager, Office of the CEO.
ASIFMA now seeks a Manager to provide coordination, research and analytical support for the office of the CEO. This person will play a central role in coordinating daily work and projects across ASIFMA and will support the CEO directly in his external role, including providing high quality briefing and speaking notes. This person will also contribute to our corporate governance by supporting our senior management and board processes. Application deadline: 22 January 2016.

The post Asia Regulatory Review: 12 – 19 January 2016 | Issue 283 first appeared on ASIFMA.

Asia Regulatory Review: 12 January 2016 | Issue 282

Abby Baker — Tue, 12 Jan 2016 02:27:49 +0000

RMB rate to depend more on basket of currencies: PBOC economist.
The Chinese yuan's exchange rate will be determined with more reference to a basket of currencies, as it faces persistent depreciation pressure against the U.S. dollar, according to a senior economist with the central bank. "Giving more consideration to a basket of currencies means the RMB's value will be kept basically stable against the whole basket," said Ma Jun, chief economist of the People's Bank of China's research bureau. (Xinhua)

The post Asia Regulatory Review: 12 January 2016 | Issue 282 first appeared on ASIFMA.

Asia Regulatory Review: 15 – 22 December 2015 | Issue 281

Abby Baker — Tue, 22 Dec 2015 02:28:55 +0000

ASIFMA wishes all subscribers a warm Season's Greetings and a Happy New Year!
The newsletter will take a break for the holidays and will return in January 2016.

The post Asia Regulatory Review: 15 – 22 December 2015 | Issue 281 first appeared on ASIFMA.

Asia Regulatory Review: 9 – 15 December 2015 | Issue 280

Abby Baker — Tue, 15 Dec 2015 02:31:01 +0000

China central government solicits online advice on Five-year Plan.
The official website of China's central government, gov.cn began to accept suggestions and opinions from the general public on the 13th Five-Year Plan (2016-2020), the national economic and social development roadmap for the next five years. Major portals including xinhuanet.com and sina.com are collaborating with the government to collect viewpoints. Submissions will be accepted until Jan. 15, 2016. (Xinhua)

The post Asia Regulatory Review: 9 – 15 December 2015 | Issue 280 first appeared on ASIFMA.

Asia Regulatory Review: 25 November – 9 December 2015 | Issue 279

Abby Baker — Wed, 09 Dec 2015 02:32:07 +0000

IMF's Executive Board Completes Review of SDR Basket, Includes Chinese Renminbi
The Executive Board of the International Monetary Fund (IMF) completed the regular five-yearly review of the basket of currencies that make up the Special Drawing Right (SDR). A key focus of the Board review was whether the Chinese renminbi (RMB) met the existing criteria to be included in the basket. The Board decided that the RMB met all existing criteria and, effective October 1, 2016 the RMB is determined to be a freely usable currency and will be included in the SDR basket as a fifth currency.

The post Asia Regulatory Review: 25 November – 9 December 2015 | Issue 279 first appeared on ASIFMA.

Asia Regulatory Review: 17 – 25 November 2015 | Issue 278

Abby Baker — Wed, 25 Nov 2015 02:37:46 +0000

ASIFMA Annual Conference 2015 to be held on 2-3 December 2015 in Hong Kong
As an industry-wide event, ASIFMA's flagship Annual Conference provides a unique opportunity for global and regional policy makers, high-level regulators and industry representatives from both sell-side and buy-side firms to meet and discuss important issues affecting the development of Asia's capital markets. Register now, seats are limited!

The post Asia Regulatory Review: 17 – 25 November 2015 | Issue 278 first appeared on ASIFMA.

Asia Regulatory Review: 10 – 17 November 2015 | Issue 277

Abby Baker — Tue, 17 Nov 2015 02:38:09 +0000

G20 Leaders publish communique following summit
G20 Leaders have issues a communique following the G20 Leaders Summit in Antalya on 15-16 November 2015. The communique highlights areas where critical work remains to enhance the stability of the financial system, including: further work on central counterparty (CCP) resilience, recovery planning and resolvability, on which the Financial Stability Board (FSB) has been asked to report back at the G20 Leaders' next meeting; measures to further strengthen oversight and regulation of the shadow banking sector; further progress in assessing and addressing, as appropriate, the decline in correspondent banking services; and implementation of OTC derivatives reforms.

The post Asia Regulatory Review: 10 – 17 November 2015 | Issue 277 first appeared on ASIFMA.

Asia Regulatory Review: 3 – 10 November 2015 | Issue 276

Abby Baker — Tue, 10 Nov 2015 02:39:54 +0000

ASIFMA Annual Conference 2015 to be held on 2-3 December 2015 in Hong Kong
As an industry-wide event, ASIFMA's flagship Annul Conference provides a unique opportunity for global and regional policy makers, high-level regulators and industry representatives from both sell-side and buy-side firms to meet and discuss important issues affecting the development of Asia's capital markets. Register now given seats are limited!

The post Asia Regulatory Review: 3 – 10 November 2015 | Issue 276 first appeared on ASIFMA.

Asia Regulatory Review: 27 October – 3 November 2015 | Issue 275

Abby Baker — Tue, 03 Nov 2015 02:43:19 +0000

China unveils proposals for formulating nation's five-year plan.
Chinese President Xi Jinping said Tuesday that the country's annual growth rate should be no less than 6.5 percent in the next five years to realize the goal to double 2010 GDP and per capita income by 2020. Under financial reform, China will continue to support RMB's bid for inclusion in the IMF Special Drawing Right(SDR) basket and push ahead with capital account liberalization and the internationalization of RMB, according to the document. China will accelerate reforms in its financial system to establish a transparent and healthy capital market. (China Daily)

The post Asia Regulatory Review: 27 October – 3 November 2015 | Issue 275 first appeared on ASIFMA.

Asia Regulatory Review: 27 October 2015 | Issue 274

Abby Baker — Tue, 27 Oct 2015 02:44:43 +0000

China's Record Capital Outflows Put Tobin Tax Back on the Agenda.
China has for the second time this month raised the possibility of taxing foreign-exchange transactions as record capital outflows from the world's second-largest economy put pressure on the yuan. "We are currently studying measures including Tobin Tax, unremunerated reserve requirement and handling fees for foreign-exchange trading to suppress any abnormal and significant flows of short-term funds that seek arbitrage," Wang Xiaoyi, deputy administrator of the State Administration of Foreign Exchange, said Thursday at a press conference in Beijing. Central bank Deputy Governor Yi Gang called for such punitive measures to be introduced to deter currency speculators in China Finance magazine, a People's Bank of China publication. (Bloomberg)

The post Asia Regulatory Review: 27 October 2015 | Issue 274 first appeared on ASIFMA.

Asia Regulatory Review: 6 – 13 October 2015 | Issue 273

Abby Baker — Tue, 13 Oct 2015 02:45:49 +0000

Job Opening at ASIFMA: Executive Director, Head of Policy and Regulatory Affairs
ASIFMA is now seeking an Executive Director, Head of Policy and Regulatory Affairs. Further details can be found here. Applications are due by October 23.

The post Asia Regulatory Review: 6 – 13 October 2015 | Issue 273 first appeared on ASIFMA.

Asia Regulatory Review: 29 September – 6 October 2015 | Issue 272

Abby Baker — Tue, 06 Oct 2015 02:47:00 +0000

PBOC's Yi Proposes Punitive Tobin Tax to Deter Yuan Speculators
China should implement punitive measures such as a so-called Tobin tax to deter currency speculators, according to central bank Deputy Governor Yi Gang. The steps could include a punitive levy on foreign-exchange trades and the imposition of "handling" fees to counter short-term capital flows that aim for arbitrage, Yi wrote in an article in China Finance magazine, a People's Bank of China publication. He is revisiting the Tobin tax idea after mentioning it more than a year ago. (Bloomberg)

The post Asia Regulatory Review: 29 September – 6 October 2015 | Issue 272 first appeared on ASIFMA.

Asia Regulatory Review: 22 – 29 September 2015 | Issue 271

Abby Baker — Tue, 29 Sep 2015 02:48:38 +0000

Job Opening at ASIFMA: Manager - Database Management
To apply, please submit your CV and cover letter to elee@asifma.org. The closing date for application is 30 September 2015.

The post Asia Regulatory Review: 22 – 29 September 2015 | Issue 271 first appeared on ASIFMA.

Asia Regulatory Review: 15 – 22 September 2015 | Issue 270

Abby Baker — Wed, 23 Sep 2015 02:49:46 +0000

UK-China stocks link plan unveiled.
Chancellor George Osborne has said the UK and China are exploring how to link their stock markets. He announced a "landmark feasibility study" into the idea, which would enable Chinese and British shares to be traded in both countries. He said the UK and China would "stick together", despite stock market turmoil and faltering economic growth in the world's second-largest economy. Mr Osborne made the pledge in a speech at the Shanghai Stock Exchange. He described the exchange as the "epicentre" of the recent volatility in global markets. (BBC)

The post Asia Regulatory Review: 15 – 22 September 2015 | Issue 270 first appeared on ASIFMA.

Asia Regulatory Review: 8 – 15 September 2015 | Issue 269

Abby Baker — Tue, 15 Sep 2015 02:51:01 +0000

Joint Associations Submit Comments to the CBRC on Regulations Affecting Technology Purchases.
Associations provided comments to the China Banking Regulatory Commission (CBRC) on technology regulations affecting banks operating in China. The organizations support China's desire to create a secure operating environment for banks. Incidents that disrupt the integrity of banking infrastructure not only impact individual bank operations, but also undermine the confidence of consumers and investors, and threaten the stability of global financial systems. ASIFMA has co-signed this letter.

The post Asia Regulatory Review: 8 – 15 September 2015 | Issue 269 first appeared on ASIFMA.

Asia Regulatory Review: 25 August – 1 September 2015 | Issue 267

Abby Baker — Tue, 01 Sep 2015 02:52:41 +0000

Job Opening at ASIFMA: Equity Analyst.
To apply, please submit your CV and cover letter to wwong@asifma.org. The closing date for application is 30 September 2015.

The post Asia Regulatory Review: 25 August – 1 September 2015 | Issue 267 first appeared on ASIFMA.

Asia Regulatory Review: 18 – 25 August 2015 | Issue 266

Abby Baker — Tue, 25 Aug 2015 02:53:58 +0000

Job Opening at ASIFMA: Manager - Database Management.
To apply, please submit your CV and cover letter to elee@asifma.org. The closing date for application is 4 September 2015.

The post Asia Regulatory Review: 18 – 25 August 2015 | Issue 266 first appeared on ASIFMA.

Asia Regulatory Review: 11 – 18 August 2015 | Issue 265

Abby Baker — Tue, 18 Aug 2015 03:01:08 +0000

ASIFMA Structured Finance Conference to be held on 15 October 2015 in Hong Kong
ASIFMA's signature conference provides an industry-wide and timely platform for policy-makers, central banks and leading market practitioners including sell side and buy side to discuss the development of the structured finance markets as a key aspect of Asian Securitization and Covered Bonds in the region and globally. Register now given seats are limited!

The post Asia Regulatory Review: 11 – 18 August 2015 | Issue 265 first appeared on ASIFMA.

Asia Regulatory Review: 4 – 11 August 2015 | Issue 264

Abby Baker — Tue, 11 Aug 2015 02:56:15 +0000

Yuan falls sharply as China improves exchange rate formation system
China's currency fell sharply in value on Tuesday following the central bank's decision to improve its "central parity system" to better reflect market development in the exchange rate between the Chinese yuan against the U.S. dollar. Effective beginning Tuesday, daily central parity quotes reported to the China Foreign Exchange Trade System before the market opens should be based on the closing rate of the inter-bank foreign exchange rate market on the previous day, supply and demand in the market, and price movement of major currencies, the People's Bank of China (PBOC) said. (Xinhua)

The post Asia Regulatory Review: 4 – 11 August 2015 | Issue 264 first appeared on ASIFMA.

Asia Regulatory Review: 28 July – 4 August 2015 | Issue 263

Abby Baker — Tue, 04 Aug 2015 02:57:15 +0000

PBC Official Answered Press Questions about Notice on Issues Concerning Investment of Foreign Central Banks, International Financial Institutions and Sovereign Wealth Funds with RMB Funds in the Inter-bank Market.

The post Asia Regulatory Review: 28 July – 4 August 2015 | Issue 263 first appeared on ASIFMA.

Asia Regulatory Review: 21 – 28 July 2015 | Issue 262

Abby Baker — Tue, 28 Jul 2015 02:58:13 +0000

CSRC to continue to stabilize stock market.
China Securities Finance Corporation, Ltd. (CSF) will continue to buy stocks to stabilize the market, the securities watchdog said. Zhang Xiaojun, spokesperson with the China Securities Regulatory Commission (CSRC), made the remark after the benchmark Shanghai Composite Index experienced the sharpest daily drop since Feb. 27, 2007, dispelling rumors that the national margin trading service provider has backed off from stabilizing the stock market. (Xinhua)

The post Asia Regulatory Review: 21 – 28 July 2015 | Issue 262 first appeared on ASIFMA.

Asia Regulatory Review: 14 – 21 July 2015 | Issue 261

Abby Baker — Tue, 21 Jul 2015 02:59:36 +0000

PBOC announces notice on Issues Concerning Investment of Foreign Central Banks, International Financial Institutions and Sovereign Wealth Funds with RMB Funds in the Inter-bank Market

The post Asia Regulatory Review: 14 – 21 July 2015 | Issue 261 first appeared on ASIFMA.

Asia Regulatory Review: 7 – 14 July 2015 | Issue 260

Abby Baker — Tue, 14 Jul 2015 03:01:39 +0000

China - The National People's Congress - China seeks public views on new cyber security law.
The top legislature released a draft cyber security law and began soliciting public opinion this week. The National People's Congress (NPC) said the full text has been available on its website since Monday, and the public can express their views or submit proposals until 5 August 2015. The 68-article draft law suggests mechanisms to guarantee the safety, operation, and information of Internet products, services and network data. Key information-related infrastructure will be put under protection, according to the draft. The draft also stresses the protection of personal information from theft, leakage or illegal use. State Council departments related with cyber security will establish monitoring, warning and reporting systems. An emergency response mechanism will also be set up, according to the draft.

The post Asia Regulatory Review: 7 – 14 July 2015 | Issue 260 first appeared on ASIFMA.

Asia Regulatory Review: 30 June – 07 July 2015 | Issue 259

Abby Baker — Tue, 07 Jul 2015 03:02:40 +0000

China's Mutual Recognition Scheme Draws Applicants
Eleven international asset managers have applied to take part in China's mutual recognition of fund scheme as regulations restricting the flow of money between Hong Kong and the mainland are loosened. Some fourteen Chinese funds have applied to sell their wares in Hong Kong, bringing the total number of applicants to 25, Ashley Alder, the Securities and Futures Commission's chief executive officer, said. (Bloombeg)

The post Asia Regulatory Review: 30 June – 07 July 2015 | Issue 259 first appeared on ASIFMA.

Asia Regulatory Review: 23 – 30 June 2015 | Issue 258

Abby Baker — Tue, 30 Jun 2015 03:04:44 +0000

MAS - Consultation Paper on Proposed Enhancements to Resolution Regime for Financial Institutions in Singapore
MAS proposes to enhance its resolution regime for financial institutions in Singapore by strengthening MAS' powers to resolve distressed financial institutions while maintaining continuity of their critical economic functions. These proposed enhancements take into account global developments, including the Key Attributes of Effective Resolution Regimes for Financial Institutions adopted by the Financial Stability Board. Deadline: 22 July 2015.

The post Asia Regulatory Review: 23 – 30 June 2015 | Issue 258 first appeared on ASIFMA.

Asia Regulatory Review: 16 – 23 June 2015 | Issue 257

Abby Baker — Tue, 23 Jun 2015 03:05:54 +0000

Job opening at ASIFMA: Manager, Policy and Regulatory Affairs
To apply, please submit your CV and cover letter to elee@asifma.org. The closing date for application is 3 July 2015.

The post Asia Regulatory Review: 16 – 23 June 2015 | Issue 257 first appeared on ASIFMA.