Category Archives: News

Hong Kong SFC Unit Trust, Mutual Fund

On 20 November 2019, HK SFC updated the FAQs on implementation of the UT code. Question 19 on investment in other funds: whether a chapter 7 fund can invest in an underlying fund with an NDE exceeding 50% of the NAV of the underlying fund. What would be the requirement if the NDE of the…
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New Zealand – GVT Overseas Investment Act

On 19 November 2019, NZ GVT updated on proposed changes to OIA re national interests. New test to apply to sales of most sensitive and high risk assets to overseas buyers. Assets such as ports and airports, telecommunications infrastructure, electricity and other critical infrastructure are not currently assessed through a national interest lens. Call in…
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Philippines – SEC R&L Investment Takeover

On 15 November 2019, PHI SEC ordered CMIC takeover of R&L Investments. Ordered Capital Markets Integrity Corporation (CMIC) to take over the operations of R&L Investments, to protect affected customer accounts on 14 November 2019. Following the stock brokerage‚Äôs collapse allegedly due to unauthorized transfers of proprietary, client shares worth about P700mn into an account…
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India – SEBI Foreign Portfolio Investors

On 15 November 2019, IND NSD noted that FPIs are permitted to open a separate demat account in depository system for holding securities under voluntary retention route. Sub-types will be incorporated in DPM system so FPIs can open an account for VRR. DDPs/custodians may continue to open separate depository account for FPIs under the existing…
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