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  • Press Conference By Tadahiro Matsushita, Japan's Minister For Financial Services - AIJ Investment Advisors

    Date 11/09/2012

    [Opening Remarks by Minister Matsushita]

    First of all, I would like to announce revisions to regulation and supervision on the investment management that will be made based on the problematic case of AIJ Investment Advisors Co., Ltd.

    Regarding the AIJ case, we have expressed an intention to consider making effective revisions to regulation and supervision in relation to the problems that have been identified in the case in light of the impact on the conduct of financial affairs. Now, the Financial Services Agency (FSA) has adopted draft revisions and is announcing them.

    The draft revisions include the requirement for the development of a mechanism to ensure that third-party oversight by trust banks functions effectively and a mechanism that enables pension fund associations and other customers to better detect problems through such measures as enhancing the contents of investment reports. The revisions also include the strengthening of punishment against illegal acts, such as false reports and fraudulent solicitation by discretionary investment managers, and the reform of regulation, supervision, and inspection of investment management companies.

    Regarding the development of a mechanism to ensure that third-party oversight by domestic trust banks functions effectively in particular, it will be required that discretionary investment managers make arrangements to enable domestic trust banks which administer assets entrusted by pension fund associations to directly obtain information on net asset value of investment funds and audit reports, as well as net asset value indicated on investment reports which discretionary investment managers provide to customers. Domestic trust banks will be required to cross-check these items and notify the results to customers.

    From the perspective of making effective revisions while taking account of the possible impact on the conduct of financial affairs, we invite public comments on the draft revisions. In light of the public comments collected, we will work out draft revisions to relevant laws and regulations and implement them as soon as preparations have been made. We will thus prevent the recurrence of cases like this.

    From 1 p.m. today, the FSA staff will hold a briefing on this case as well as on the overview of the findings so far made in the second-round inquiry into discretionary investment managers.

  • HKEx Announces Market Makers And Margin Rates For RMB Currency Futures

    Date 11/09/2012

    Hong Kong Exchanges and Clearing Limited (HKEx) has announced market makers and margin rates for the renminbi currency futures (RMB Currency Futures) that will begin trading in its derivatives market on Monday, 17 September 2012.

  • UK's Financial Services Authority Mortgage Lending Data Published

    Date 11/09/2012

    The Financial Services Authority (FSA) today published its latest Mortgage Lending Data for the United Kingdom covering the period Q2 2012.

  • Presentation By HKEx Head Of Trading Calvin Tai On RMB Currency Futures At A Media Workshop On HKEx's RMB Products

    Date 11/09/2012

    Click here to download a presentation by HKEx Head of Trading Calvin Tai on RMB Currency Futures at a media workshop on HKEx's RMB Products.

  • The Egyptian Exchange (EGX) Monthly Statistical Report August 2012

    Date 11/09/2012

    Listing

    Total number of listed companies on the main market amounted to 212 at the end of August 2012. Meanwhile, the number of listed companies on Nilex reached 22 at the end of August 2012.

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