Daily News Headlines

  • News Headlines – 26 Feb-2 Mar 2021

    [Hong Kong] SFC and FRC to enhance collaboration

    SFC News, 25 Feb 2021

    The SFC and the Financial Reporting Council (FRC) have concluded a new Memorandum of Understanding to strengthen the regulation of the capital markets through enhanced collaboration between the two regulators. The enhanced collaboration between the SFC and the FRC under the new MoU, which includes case referrals, joint investigations, mutual assistance, capacity building and the exchange and use of information, will increase the overall effectiveness of both regulators in ensuring the quality of financial reporting by listed entities and the audit quality of listed entity auditors.

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    [Hong Kong] SFC petitions for the winding up of Adamas Asset Management (HK) Limited and seeks to appoint provisional liquidators

    SFC News, 26 Feb 2021

    The SFC has presented a petition to the Court of First Instance to wind up Adamas Asset Management (HK) Limited. The SFC has also obtained an order from the Court of First Instance on 25 February to appoint Ms Chan Pui Sze and Ms Mak Hau Yin, both of Briscoe Wong Advisory Limited, as joint and several provisional liquidators of Adamas to manage the affairs of Adamas, including its rights and powers in relation to the private funds advised or managed by Adamas, as they consider appropriate.

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    [Singapore] Guidelines on Criteria for the Grant of a Financial Adviser's Licence [FAA-G01]

    MAS Regulation, 1 Mar 2021

    The MAS published Guidelines which set out the licensing admission criteria for persons applying for a financial adviser’s licence under the Financial Advisers Act, including:

    • ·  Who needs to apply for a financial adviser's licence.
    • ·Criteria that will be taken into consideration when assessing applications.

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