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FSA publishes English translation of Annual Supervisory Policies for Major Banks for Program Year 2010
December 20, 2010--FSA publishes English translation of Annual Supervisory Policies for Major Banks for Program Year 2010
view Composition of Supervisory Policies (Major Banks)
view the Annual Supervisory Policies for Major Banks for Program Year 2010
Source: FSA.go.jp
HKEx Publishes Market Statistics in Response to Media Requests
December 20, 2010--In response to requests from some news organisations which are preparing their year-end reviews, Hong Kong Exchanges and Clearing Limited (HKEx) published today (Monday) a set of market statistics for 2010 (up to 15 December) on its website.
view HKEx Market Statistics 2010
Source: Hong Kong Exchanges and Clearing Limited (HKEx)
BetaShares appoints RBC Dexia to service Australian-based Exchange Traded Funds
December 20, 2010--RBC Dexia Investor Services today announced that it has been appointed by BetaShares Capital Limited (BetaShares) to provide custody and fund administration for their initial range of Exchange Traded Funds (ETFs) to be listed on the Australian Securities Exchange. The funds will
be serviced out of Sydney, Australia.
From the development stage to the launch of our initial products, RBC Dexia’s consultative approach and flexibility in their operating model were a complement to our team here at BetaSharesand the main driver to their selection to service our exchange traded funds,” said Alex Vynokur,
Managing Director of BetaShares “We look forward to growing our relationship with RBC Dexia as we
continue to develop and introduce new products to the Australian ETF marketplace.”
Similar to other global markets, the appetite for Australian ETFs has grown substantially in the past year.
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Source: RBC Dexia
Japan’s Quest for Growth: Exploring the Role of Capital and Innovation-IMF Working Paper
December 17 2010--Summary: As labor input in Japan shrinks with population aging, capital accumulation and productivity gains will drive growth over the medium-term. At the same time, a changing global landscape calls for a shift in export-oriented investment toward new markets and a new generation of products, as well as increased investment by domestically-oriented firms. What policies could be adopted to help firms adjust to the imperatives of the post-crisis global economy and boost medium-term growth? Using disaggregated data, this paper investigates the determinants of investment and R&D spending by Japanese firms.
The results suggest that policies could usefully focus on four areas. First, raising the return on investment, including through reforms to the tax code. Second, decreasing uncertainty through improved risk management by firms and by bolstering the business climate. Third, improving SME access to finance, notably by encouraging venture capital investment in innovative areas and more risk-based lending. And fourth, reducing excess leverage and supporting corporate restructuring to enable new investments to flourish.
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Source: IMF
Inflation is under control, says Chinese regulator
December 17, 2010--China is unlikely to face runaway price rises next year and Beijing has already had some success in reining in inflation, according to the country’s top banking regulator.
Analysts said Liu Mingkang’s remarks reflected Beijing’s official inflation forecast and helped explain why the government has not yet moved to raise interest rates, in spite of persistent and accelerating price rises in recent months.
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Source: FT.com
HKEx Publishes Consultation Paper on Review of the Code on Corporate Governance Practices and Associated Listing Rules
December 17, 2010--Hong Kong Exchanges and Clearing Limited (HKEx) published a consultation paper today (Friday) on proposed changes to the Code on Corporate Governance Practices (the Code) and certain Listing Rules relating to corporate governance.
“This consultation paper is part of our ongoing initiative to promote the development of higher corporate governance standards. Our proposed changes are also generally in line with international best practice,” said Mark Dickens, HKEx’s Head of Listing. “We also propose revising some Listing Rules that may be impractical or burdensome to the market or may not meet their intended corporate governance purpose.”
The Code was introduced in January 2005. Since then, market conditions locally and overseas have changed, and HKEx believes an update to the Code and the related Rules is warranted.
Under the proposals, some Code Provisions (CPs) have been promoted to Rules because of their importance and many Recommended Best Practices (RPBs) have been upgraded to CPs. While issuers are required to abide by the Rules, they continue to have the flexibility to comply with the CPs. If issuers decide not to adopt a CP, they must explain the reasons for the decision in their corporate governance report. For RBPs, issuers are encouraged, but not required, to state whether they have adopted them.
view the Consultation Paper on Review Of the Code On Corporate Governance Practices and Associated Listing Rules
Source: Hong Kong Exchanges and Clearing Limited (HKEx)
HKEx Publishes Consultation Paper on Proposed Changes to the Requirements for Listing Debt Issues to Professional Investors Only
December 17, 2010--Hong Kong Exchanges and Clearing Limited (HKEx) published a consultation paper today (Friday) on proposed changes to the requirements for debt securities for professional investors only (currently referred to in the Rules as listing by selective marketing.)
The proposals include:
Presenting the Rules in more accessible language.
Unifying the definition of professional investor in the Rules with the definition in the Securities and Futures Ordinance.
Removing provisions relevant only to retail investors from the eligibility requirements for applicants.
Replacing the current detailed disclosure requirements in listing documents with an obligation to include information that is customary for offers of debt securities to professionals. Existing requirements to include responsibility and disclaimer statements in prescribed forms and a statement limiting distribution of the offering circular to professionals will be retained.
Streamlining the application procedures for applicants and the vetting and approval procedures within the Listing Division.
Removing provisions relevant only to retail investors from continuing obligations.
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Source: Hong Kong Exchanges and Clearing Limited (HKEx)
HKEx Exchange to streamline its document requirements
December 15, 2010--The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has decided to amend the Listing Rules to remove the requirements for issuers to file printed documents with the Exchange. The Rule amendments will become effective on 1 January 2011.
The changes are part of our continuing efforts to streamline our document requirements and to reduce paper consumption” said Mark Dickens, the Head of Listing.
Under the amended Rules issuers will no longer be required to submit printed copies of various documents to the Exchange, including:
Financial reports;
Takeover documents;
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Source: Stock Exchange of Hong Kong Limited (HKEx)
Thai bourse revises SET50 & SET100 Index constituents for H1/2011
December 15, 2010--The Stock Exchange of Thailand (SET) has selected eligible securities as the constituents of the SET50 and SET100 indices for H1/2011 (January 1- June 30). The review was based on market capitalization for Q3/2010 and trading data of eligible securities during December 1, 2009 to November 30, 2010, SET Group Head, Products Business & Development, Ms. Kesara Manchusree said.
There are six newcomers in the SET50: BTS Group Holdings PCL (BTS), Dynasty Ceramic PCL (DCC), Kiatnakin Bank (KK), Robinson Department Store PCL (ROBINS), Sahaviriya Steel Industries PCL (SSI), and Sri Trang Agro-Industry (STA). There are also three newcomers in the SET100: Siam Global House PCL (GLOBAL), Kulthorn Kirby PCL (KKC), and Stars Microelectronics (Thailand) PCL (SMT)
The SET50 Index is composed of the top 50 eligible securities and the SET100 from the top 100, with 5 securities in the replacement list of each index.
For details on the selection criteria and method of calculation, please see www.set.or.th/set50 or call S-E-T Call Center 0 2229 2222
Source: Stock Exchange of Thailand (SET)
China bank to launch fund of funds
Decmber 15, 2010--China Development Bank, the state-owned lender that owns part of the UK’s Barclays Bank, is set to launch the country’s first private equity fund of funds in a sign of how rapidly the Chinese private equity industry is maturing.
With direct approval from the State Council, China’s cabinet, the fund of funds is scheduled to raise a total of Rmb60bn ($9bn), providing a huge boost to the burgeoning domestic private equity sector.
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Source: FT.com
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