NEWS ROUNDUP
With new regulations, products, technologies, trading platforms
and market players appearing all the time, the world of buy-side
trading is an ever-changing landscape. Here’s a quick roundup of
some of the news stories you may have missed over the last few
weeks.
Hong Kong and US reach deal on mutual supervision and oversight
A landmark deal has been reached
between Hong Kong’s Securities and
Futures Commission and US regulator
the Financial Industry Regulatory
Authority, recognising mutual
supervision and oversight of the two
markets.
Under the deal, which encompasses
the regulation of cross-border entities
such as asset management firms and
investment banks, the two authorities
agreed to engage in formal and
informal cooperation and exchange
non-public information on “issues of
common interest”.
The two regulators will also collaborate
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on “material changes in the ownership,
operating environment, operations,
financial resources, management, or
systems and control” of cross-border
financial institutions.
“The Authorities express their willingness
to cooperate with each other in the
interest of fulfilling their respective
regulatory mandates, particularly in the
areas of investor protection; promoting
the competence and integrity of crossborder regulated entities; fostering
market and financial integrity; reducing
systemic risk and maintaining financial
stability,” the two authorities said in an
official joint statement.
www.buysideintel.com
June 2016