News Centre

Hong Kong Securities And Futures Commission Expands Listed Structured Fund Offerings In Hong Kong

Date 23/01/2025

The Securities and Futures Commission (SFC) today sets out new regulatory requirements in a circular for product issuers, with a view to broadening the range of listed structured funds that may be offered to the public in Hong Kong, notably adding to their product mix Single Stock Leveraged and Inverse (L&I) Products and Defined Outcome Listed Structured Funds.

The Shanghai Stock Exchange Holds A Special Training Course For Institutional Investors And Updates The List Of Co-Signing Institutions For The "Three Investments" Proposal

Date 23/01/2025

From January 16 to 17, the Shanghai Stock Exchange (SSE), together with the Shanghai Asset Management Association (SAMA), held the first special training course for institutional investors in 2025 on the SSE and updated and released the list of co-signing institutions of the Proposal for Rational Investment, Value Investment, and Long-term Investment in the Capital Market. Through special training and further expanding the co-signing scope of the Proposal, SSE aims to guide institutional investors to practice the "Three Investments" concept and implement the memorandum arrangements by the China Securities Regulatory Commission (CSRC) and the Shanghai Municipal People's Government regarding the cooperation mechanism for capital market's support for accelerating the construction of the "Five Centers" in Shanghai. The Shanghai Office of CSRC participated in the preparation of the special training course as a supporting unit. Eighty-one senior and mid-level managers from member institutions of the SAMA participated in the training course, with the types of institutions covering bank wealth management, securities asset management, public and private equity funds, insurance asset management, trust institutions, and industrial funds, among others.

ASX Releases CHESS Settlement Incident Review

Date 23/01/2025

ASX has today released an incident review to assist customers and stakeholders with a more detailed understanding of the CHESS Batch Settlement incident that occurred on Friday 20 December 2024. This includes an overview of how the incident unfolded, root cause analysis, steps taken to prevent reoccurrence, and a preliminary action plan that ensures the ongoing stability of CHESS and identifying opportunities for improvement in our incident management protocols.  

Hong Kong Securities And Futures Commission Commences False Trading Prosecution Against Brothers-In-Law

Date 23/01/2025

The Securities and Futures Commission (SFC) today commenced criminal proceedings at the Eastern Magistrates’ Court against Mr Lin Tai Fung and his brother-in-law, Mr Or Chun Nin, for alleged conspiracy to commit false trading in the shares of Pa Shun International Holdings Limited (Pa Shun) from 9 April 2017 to 7 March 2018.

Securities Commission Malaysia: High Court Allows Forfeiture Of Luxury Condo And Cash

Date 23/01/2025

The High Court yesterday allowed the Public Prosecutor’s application against Havana Bayview Sdn Bhd and Wong Shee Kai (Ricky Wong) to forfeit a luxury condominium unit at Four Seasons Place in Kuala Lumpur as well as a sum of RM445,039.28 held in Ricky Wong's personal fixed deposit account (Forfeiture Application).  

Acting Chairman Pham Announces CFTC Leadership Changes

Date 22/01/2025

Commodity Futures Trading Commission Acting Chairman Caroline D. Pham today announced CFTC leadership changes:

“I’m pleased to announce CFTC leadership changes with the beginning of the new Administration, and I want to recognize and thank former Chairman Behnam and his staff, as well as Steve Adamske, Director, Office of Public Affairs; Clark Hutchison, Director, Division of Clearing and Risk; Ian McGinley, Director, Division of Enforcement; Vince McGonagle, Director, Division of Market Oversight; Amanda Olear, Director, Market Participants Division; Suyash Paliwal, Director, Office of International Affairs; Rob Schwartz, General Counsel; and Ann Wright, Director, Office of Legislative and Intergovernmental Affairs, who have been the CFTC’s executive leadership team over the past several years. I am grateful for their combined many decades of faithful service to the CFTC, and I appreciate our talented CFTC staff who will be assuming these roles on an interim basis,” Acting Chairman Caroline D. Pham said.

Which Markets And Investors?: Statement On The Notice Of Proposed Plan Of Distribution And Opportunity For Comment With Respect To Barclays PLC And Barclays Bank PLC, SEC Commissioner Hester M. Peirce, Jan. 22, 2025

Date 22/01/2025

In accordance with a vote taken before January 20, the Commission today published a Notice of Proposed Plan of Distribution and Opportunity for Comment for a Fair Fund created from the $200 million civil penalty imposed in a settled administrative proceeding against Barclays PLC and Barclays Bank PLC. Under the Proposed Plan, the Commission would “use a single claims process to compensate investors who purchased or acquired ADRs on a U.S. exchange and ordinary shares/common stock on a foreign exchange, and were harmed by a violation of the federal securities laws.” Specifically, the Fair Fund proposes to compensate investors for the “Recognized Loss[es]” incurred from trading during the “Relevant Period” in Barclays ADRs on the NYSE and in “Barclays ordinary shares traded on the [London Stock Exchange] (“LSE”).” This proposed plan—to use a Fair Fund to compensate investors who purchased securities of a foreign issuer on a foreign exchange—is somewhat novel. I have both legal and policy concerns regarding the novel proposal.

Remarks Of CFTC Commissioner Kristin Johnson At The Global Blockchain Business Council’s 8th Annual Blockchain Central Davos: Collaboration For The Intelligent Age

Date 22/01/2025

In January, we mark the launch of a number of initiatives and resolutions. A significant transition in leadership in U.S. government is taking place as I am delivering these remarks. Moments of transition offer an exceptional time for reflection on our shared goals and recommitment to the values that drive government, business, and our society.

B.C. Securities Commission Reaches Agreement With Overseas Companies To Return Money And Cryptocurrency To British Columbians

Date 22/01/2025

The B.C. Securities Commission (BCSC) has reached an agreement with an overseas group of companies, GS Partners and its affiliates, which will enable British Columbians to make a claim for a refund of all investments they made with them.

ISDA derivatiViews: Deadline Pressure On Treasury Clearing

Date 22/01/2025

By the end of this year, the first phase of the US Securities and Exchange Commission’s (SEC) Treasury clearing mandate is scheduled to come into force, affecting users of US Treasury securities all over the world. It’s difficult to overstate how big a deal this is, and a huge amount of work is underway to implement the new requirements. However, several legal, operational and capital issues crucial to implementation must be resolved before the new requirements take effect – and time is running out. With the start of a new administration in the US, we hope the deadlines will be quickly revisited to provide sufficient time to tackle the various implementation challenges.