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As Asia’s hedge funds become more global, they face greater investor demands. Here’s why corporate governance concerns are proving key

Recent news revealed new efforts by the Ministry of Industry and Information Technology (MIIT) to promote a data protection regulation in the telecommunications sector. The news reported that different departments of the MIIT visited Guangdong and Sichuan provinces to confer with the local telecommunications authorities and companies on various topics about the promulgation of a departmental administrative regulation for the protection of personal information, and carried out relevant research. This shows the continuous endeavour made by the MIIT in the area of data protection.

Investigations into nine of the 10 brokerages submitting three-month rates for South Korea's certificate of deposit rates (CD rates) prompted the country's Financial Services Commission (FSC) to introduce the benchmark Cost of Funds Index (Cofix) for short-term lending rates. But there are issues with Cofix setting, too.

It seems a fact of corporate life that broad-based international regulations will draw substantial criticism. But the US Commodity Futures Trading Commission's (CFTC) proposed cross-border rules under Title VII of Dodd-Frank are of particular concern.

Kuala Lumpur's Association of Islamic Scholars (ASAS) is set to introduce shariah board accreditation processes this year in a bid to address concerns over the integrity of shariah scholars. But many believe the move is set to fail

US authorities acted quickly to regulate the financial sector after the subprime crisis sent the global economy into a tailspin, and the country is less vulnerable to financial collapse as a result. This head start on regulation will likely cause some money to travel to foreign jurisdictions, but investors would be wise to observe the benefits of regulatory certainty.

Commentators have been quick to dismiss plans for a UK business bank. Too quick, in fact. Business secretary Vince Cable's vision of a government-backed lender would offer a reprieve to the country's banking sector, and is worth pursing. Its objective might be to improve funding options for small and medium-sized enterprises (SMEs). But it could also increase the market share of the so-called challenger banks, and create some much-needed distance between the big four and SMEs – in June the banks admitted to having mis-sold interest rate swaps to the corporates in question.

Welcome to the new world order. Again. Of course, it's all too easy to be cynical. Seismic shifts in the investment-banking model have been prophesised time and again since the events of 2008, and beyond, changed the worldview of banking behemoths irrevocably.

Be it London, Hong Kong or New York that emerges as the financial hub of the future, it should closely watch the rise of these second-tier money centres

It's not every day that regulators, industry groups and consumer advocates agree on a financial industry reform. Yet the Securities and Exchange Commission (SEC) plans to keep a uniform fiduciary standard for investment advisers and broker-dealers on the backburner.