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  • FSB Report Sets Out Framework To Monitor Crypto-Asset Markets

    Date 16/07/2018

    The Financial Stability Board (FSB) today published a report delivered to the G20 Finance Ministers and Central Bank Governors on the work of the FSB and standard-setting bodies on crypto-assets.

  • SGX RegCo Reprimands Dapai International Holdings Co. Ltd., Executive Chairman Chen Xizhong, Former CEO Chen Yong And Former CFO Lawrence Lam Pong Sui - Public Reprimand: Breach Of Listing Rules

    Date 16/07/2018

    1. Singapore Exchange Regulation (“SGX RegCo”) reprimands Dapai International Holdings Co. Ltd. (“Dapai” or the “Company”) [达派国际控股有限公司], Mr Chen Xizhong [陈锡忠] (Executive Chairman), Mr Chen Yong [陈勇] (former Chief Executive Officer) and Mr Lawrence Lam Pong Sui [林傍水] (former Chief Financial Officer) for breaches of the Listing Rules.
    2. Based on the findings in the independent reviews by BDO LLP (“BDO”) and Kordamentha Pte Ltd (“Kordamentha”) into allegations that various transactions by the Dapai Group and certain sales distributors and renovation contractors relating to the Company’s initiative to open 500 retail outlets in the People’s Republic of China were fictitious and/or misrepresented, the instances of non-compliance with the Listing Rules are as follows:
    • Listing Rule 703(1)(a) requires an issuer to announce any information known to the issuer concerning it or any of its subsidiaries or associated companies which is necessary to avoid the establishment of a false market in the issuer’s securities. Appendix 7.1 paragraph 3 clarifies that a false market may exist if information is not available that would, or would be likely to, influence persons who commonly invest in securities in deciding whether or not to subscribe for, or buy or sell the securities.

  • Shanghai Stock Exchange Holds Symposium For Listed Companies

    Date 16/07/2018

    On July 11, the Shanghai Stock Exchange (SSE) held a symposium for listed companies, which was presided over by Huang Hongyuan, SSE Chairman of Board of Governors, and attended by Jiang Feng, SSE President and Lu Wendao, Chief Lawyer. A total of 10 SSE-listed companies representing different industries were invited, including those from traditional industries such as finance, real estate and chemicals and those from emerging industries and of new business types such as new retail and new energy battery. The symposium solicited opinions of the listed companies on recent economic situation, industry development, Sino-US trade dispute and efforts in safeguarding the sound operation of the capital market.

  • UK Financial Conduct Authority Proposes Actions To Improve Competition In The Investment Platform Market

    Date 16/07/2018

    Competition is working well for most consumers using investment platforms, according to interim findings of the Financial Conduct Authority's market study into investment platforms, published today. 

  • Setting Sail for A New Journey: Astana International Exchange Officially Opened

    Date 16/07/2018

    At the 20th anniversary of the capital relocation of Kazakhstan on July 5, 2018, the Astana International Financial Center (AIFC) was officially opened. As an important part of the opening ceremony, an opening activity was also held for the Astana International Exchange (AIX), which was built with the participation of the Shanghai Stock Exchange (SSE).