Amendments to the Takeover Code follow recent UK and Hong Kong changes. They also clarify processes established during the contested takeover of Fraser and Neave
Asian market participants have been second-guessing the types of capital the region’s banks will raise to comply with the FSB's upcoming TLAC requirement
The introduction of total loss-absorbing capacity (TLAC) requirements for banks has caused some jurisdictions to consider so-called tier 3 instruments. But investors and issuers would prefer more tier 2s, according to speakers at Fitch's Global Banking Conference in Hong Kong on June 17.
The SFC’s response to HKEx’s weighted voting rights proposal had a similar effect Late last month the board of Hong Kong's securities regulator unanimously opposed the Hong Kong Exchange (HKEx) proposal for allowing weighted voting rights (WVR). But a potential secondary listings regime wasn't addressed. Following the Securities and Futures Commission's (SFC) release, HKEx announced it would engage with the SFC. "The Exchange's listing committee will decide the best way forward in light of the views of the SFC," it said.
More customised fundraising and increased regulation has led to longer, and highly negotiated side letters. Here are the six areas limited partners must focus on
Pieced together, recent initiatives reveal RMB’s internationalisation Banks and corporates must quickly adjust to the continuing internationalisation of the renminbi – including the need for hedging strategies – according to speakers at the release of a report on the currency. Announcements over the past few weeks have highlighted the pace of reform. This includes the introduction of mutual recognition of mainland China and Hong Kong funds, the opening of the China International Payments System (CIPS) by end-2015, and MSCI and Vanguard's decision to include A-shares in their respective indices.
