Regulation Archive

Mar 19, 2019
Ready for the new rules? Governance focus at IR Magazine Forum & Awards – India 2019
By the time India’s IR community gathers for the second annual IR Magazine Forum & Awards – India on June 14, a new set of corporate governance rules will be in place across the country.  A string of high-profile governance scandals over the past year has prompted the Securities and Exchange Board of India to tighten rules around corporate governance, with the amendments set to come in on April 1. Nimesh Kampani, head of IR at Kotak Mahindra Bank and...
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Mar 04, 2019
Corporate Governance Advisory Committee created in Singapore
The Monetary Authority of Singapore (MAS) has established a Corporate Governance Advisory Committee (CGAC) to advocate for good corporate governance practices at listed companies in Singapore. The new industry-led body will be chaired by Bobby Chin, director of Singapore Telecommunications. Creating the CGAC was recommended by Singapore’s Corporate Governance Council, which itself was set up by the MAS to review the Corporate Governance (CG) Code in 2018....
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Feb 26, 2019
SEC votes to expand ‘testing the waters’ proposal to all IPOs
The SEC has voted for a proposal that gives another benefit of the 2012 Jobs Act to all companies, expanding a so-called testing-the-waters rule to all potential public companies so they can gauge institutional investor interest in advance of an IPO filing. Currently this is available only to emerging growth companies – those with less than $1 bn in annual revenue. Expanding the rule to a wider range of companies could boost the number of IPOs. Extending th...
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Feb 26, 2019
Bridging the Mifid II gap
Mifid II is putting a lot of pressure on small and mid-cap IR teams due to the disruption the sell side has faced, according to Elena Basova, senior analyst at Nasdaq IR Intelligence. ‘Historically they were supported by the sell side, which scheduled buy-side meetings,...
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Feb 20, 2019
Investors risk failing on stewardship, warns Hermes
‘Investors across Europe are at risk of ignoring their role as responsible stewards’ – that is the conclusion of new research from Hermes Investment Management in a survey of 175 European institutional investors, showing that few investors have implemented the European Shareholder Rights Directive II (SRD II) in its entirety.  T...
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Feb 14, 2019
Hundreds of stocks at risk from Brexit and Mifid II trading rule
Up to 230 stocks listed in the UK and EU are at risk from Brexit because of a Mifid II trading rule, according to a leading trading expert.  Christian Voigt, senior regulatory adviser at software trading company Fidessa and former vice president at Deutsche Börse, has published an analysis that finds 230 liquid stocks with a roughly 50/50 split of turnover across the UK and remaining EU memb...
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Feb 01, 2019
Mifid II results in lower commission rates
Mifid II, introduced one year ago, has brought trading costs under closer scrutiny, with many asset managers negotiating lower commission rates, Greenwich Associates says in a new report. Combined average commission rates fell to 8.4 basis points (bps) in 2018 from 9.7 in 2017 in developed markets, and to 12.7 bps from 16.7 bps in emerging markets, while they rose to 40.1 bps from 34.0 bps in frontier markets, the report adds. ‘Understandably, the largest d...
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Jan 23, 2019
Worries for IPOs during US government shutdown
The longest US government shutdown in history is starting to worry the IPO market because of the negative ramifications the closure could have on the markets and the process for companies wanting to float. Until the shutdown 160 companies filed to go public with the SEC, according to research company Argus. This includes big names like the ride-hailing companies Uber – with its targeted $120 bn listing – and Lyft, which hoped to float in March or April with a $1...
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Jan 16, 2019
Singapore set to launch radical grant system for companies wanting to list
The Monetary Authority of Singapore (MAS) is launching a set of grants worth S$75 mn ($55 mn) to help companies float on Singapore Exchange (SGX) and enhance the quality and availability of equity research. The Grant for Equity Market Singapore (Gems) scheme will launch on February 14 and run for three years. ‘Singapore has been working to enhance our private and public markets so that domestic and international growth enterprises are able to access differe...
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