By Matthew Watts and Rebecca Mangos
As the end of the 2023 financial year fast approaches, responsible entities and CCIV corporate directors should be reminded of their obligation to notify members by 30 June 2023 of their rights to elect and request to receive certain documents in physical or electronic form.
Read MoreBy Chloe Duan and Grace Ye
In 2016, the China Securities Regulatory Commission launched the wholly foreign-owned enterprise private fund manager (WFOE PFM) program to encourage foreign fund managers to make investments in China with money raised in China. With the launching of the first Qualified Domestic Limited Partner (QDLP) fund managed by a WFOE PFM in March 2023, foreign fund managers now have the choice to decide where to invest globally with the funds raised in China.
Read MoreBy Chloe Duan and Grace Ye
The China Securities Regulatory Commission (CSRC) released a series of rules on reform of the regulatory regime for initial public offering (IPO) on Chinese stock exchanges (Reform). The Reform essentially expands the registration-based IPO regime (Registration Regime) to the main boards at the Shanghai Stock Exchange and the Shenzhen Stock Exchange.
Read MoreOn 15 March 2023, amendments to the EU Regulation on the European Long-Term Investment Fund (ELTIF) were published in the Official Journal of the European Union. They will apply from 10 January 2024.
Read MoreBy: Trayne S. Wheeler, Brian Doyle-Wenger, and Gustavo De La Cruz Reynozo,
On March 15, 2023, the U.S. Securities and Exchange Commission (“SEC”) proposed amendments to Regulation S-P. The proposed amendments would require covered institutions to enhance protections of consumer information by requiring the adoption of written policies and procedures for an incident response program. The amendments would expand the scope of Regulation S-P by requiring covered institutions to provide timely notifications to individuals affected by data breaches and by extending the definition of the information covered by the regulation.
Read MoreBy Chloe Duan and Grace Ye
The China Securities Regulatory Commission (CSRC) released the Administrative Measures for Network and Information Security in Securities and Futures Sectors (Measures) on 27 February 2023, which will become effective on 1 May 2023.
Read MoreBy Kane Barnett and Bernard Sia
The Australian Government has provided further details of the previously announced review of the managed investment schemes (MIS) regulatory framework (Review). The Review was announced in the 2022-23 Federal budget, and with $2.7 million committed, is intended to test the effectiveness of the current framework.
Read MoreBy Grace Ye and Chloe Duan
China has promulgated a series of laws and regulations governing data protection, in particular data export in past years.
The People’s Republic of China (PRC) law currently provides three routes for data export, i.e., (1) Cybersecurity Administration of China (CAC) assessment, (2) certification (by professional institutions), and (3) standard contractual clauses (SCC). Depending on the nature and volume of data to be exported and the identity of the exporter, the exporter must pick at least one route in order to export data.
Read MoreVersion 1 of the European Long-Term Investment Fund (ELTIF) has not been a huge success story with only a few relatively small funds launched to date. However the development of a well-supported fund structure for retail investors to invest in illiquid long-term assets remains a key priority for EU legislators.
Read MoreOn 24 January 2023, the ECON Committee of the EU Parliament adopted its report on proposed amendments to the EU’s main fund rules, AIFMD and the UCITS Directive, ahead of trilogue negotiations with the EU Council and Commission set to begin in March. When agreed, the revised Directives are expected to come into force in 2025 in light of the 24 months transposition period. Notable proposals include:
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