Chinese authorities have further loosened controls on the investment regime for foreign investors, lowering qualification thresholds and broadening the scope of permissible investments to include the nation’s largest debt market…
The China Securities Regulatory Commission June 20, 2012, issued draft revisions to its rules governing fund management companies, proposing changes that would cut red tape and allow more flexibility in how funds manage their business.
The Qualified Foreign Investor (“QFI”) route was initially introduced by the Securities Exchange Board of India (“SEBI”) vide Circular No. CIR/IMD/DF/14/2011 dated August 9, 2011, whereby QFIs were permitted to invest in mutual fund schemes.
China’s securities regulator pledged during May 2012 to further ease restrictions on a 10-year-old program that allows foreign investors to tap China’s domestic stock market.
When a foreign issuer that sponsors Taiwan Depositary Receipts (“TDRs”) applies with the Taiwan Stock Exchange (“TWSE”) for listing, it is required to provide the TWSE with its audited financial statements for the TWSE to understand its financial status.
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The Securities and Exchange Commission May 9 sued Deloitte Touche Tohmatsu’s Shanghai affiliate for allegedly “willfully” failing to provide documents to the agency regarding a client under SEC investigation (In re Deloitte Touche Tohmatsu CPA Ltd., SEC, Admin. Proc. File No. 3-14872, 5/9/12).
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As has been well publicized, the Volcker Rule is expected to have a significant impact on the global financial markets, changing the way that they operate in important ways, including how securities are underwritten, markets are made and financial institutions generate revenue.
The Swiss government is seeking to implement early next year new rules on collective investment schemes aimed at bringing Swiss practices in line with European Union rules.
Chinese authorities have more than doubled the amount foreigners can invest in the country’s stock and bond markets, in the latest move to ease restrictions on foreign investment, liberalize its capital markets, and strengthen domestic exchanges.
The Reserve Bank of India (“RBI”), with RBI/2011-12/452/A.P. (DIR Series) Circular No. 93 dated March 19, 2012 (“Circular”), has allowed Securities and Exchange Board of India (“SEBI”) registered foreign venture capital investors (“FVCIs”) to invest in eligible securities (equities, equity linked instruments, debt, debt instruments, debentures of a venture capital undertaking or a venture capital fund, and units of schemes/funds set up by a venture capital fund) by way of private arrangement or purchase from a third party.