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On 15 May 2013, the Securities and Futures Commission (SFC) published a Consultation Paper on the Proposed Amendments to the Professional Investor Regime and the Client Agreements Requirements (Consultation Paper). Amongst other things, the SFC revisits the...

Introduction and general overview The recent economic crisis has thrown the spotlight on Shari'a compliant investment funds as an alternative form of investment management. These prohibit speculation and instead promote taking an interest in a company...

In March 2013, China issued a new set of measures to govern onshore securities investment by Renminbi qualified foreign institutional investors (RQFII).  The new measures now expand the types of entities eligible to apply for RQFII licence.  Previous...

On 28 December 2012, China announced the amendment of its Securities Investment Funds Law which for the first time, regulates privately-placed securities investment funds.  The Amended Law provides a safe harbour for private placements while also imposes...

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It is always exciting to unwrap a Christmas present, even one that is sock-shaped. And after many months of waiting, many will flick through the Commission's Level 2 Alternative Investment Fund Managers Directive (AIFMD) Delegated Regulation, issued on 19...

With a view to attracting more global institutional investors to participate in China's securities market, the State Administration of Foreign Exchange has recently introduced changes to the foreign exchange regime governing QFIIs.  These changes include...

On 12 December 2012, the Hong Kong Securities and Futures Commission published its consultation conclusions on enhancing the regulatory regime of sponsors.  In this briefing, we discuss certain selected changes and proposals which may have a more profound...

The Financial Stability Board (FSB) published a suite of documents on 18 November 2012 relating to its ongoing consultation on shadow banking.  The documents outline the current status of the consultation and, for the first time, set out clear policy recommendations...

For a long time, China has closely monitored its insurance capital by restricting entities that were allowed to manage it and the eligible asset classes in which it could be invested.  Now, eager to liberalise the deployment of insurance capital, the China...