In The News

China – PBOC Increases HK Foreign Investment Quota

On 4 July, PBOC raised HK foreign institution investment (RQFII) quota. RQFII quota for HK expanded to 500bn yuan, (from previous RMB270bn level). Expansion will help meet needs of HK investors for the allocation of RMB assets. Promote opening domestic financial market and close ties between the Mainland.
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U.K. FCA MiFID Consultation VI

On 3 July, FCA proposed 6th MiFID implementation handbook change. Proposal covers small number of Handbook changes, not previously consulted on. Handbook Changes With consequential and miscellaneous changes to Handbook and new guidance on third parties when firms send FCA instrument reference data, commodity position. Financial services compensation scheme (FSCS) coverage fee for RIEs, MTFs,…
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U.K. FCA Issues Policy Statement on MiFID II

On 3 July, FCA issued policy statement II on implementation of MiFID. Final FCA policy statement setting out its final rules for implementation of MiFID II. Followed FCA Mar. 2017 PS17/5 near-final markets, organization rules. Scope Final rules on conduct issues, included research, inducements, client categorization. Best execution, appropriateness tests, taping, client assets and perimeter…
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Hong Kong – Substantial Shareholding Electronic Filing Effective 3 July

As previously reported on 5 May, the Hong Kong Securities and Futures Commission (SFC)  published new disclosure forms for substantial shareholding notifications, to be used from 3 July 2017 when mandatory electronic filing takes effect. For events triggering disclosure requirements which occur on or after 3 July 2017, notifications must be filed electronically to SEHK…
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