Australia, Hong Kong to work closer
Financial Services ministers from Australia and Hong Kong today signed a memorandum of understanding between Hong Kong’s Exchanges and Clearing and the Australian Stock Exchange (ASX).
The memorandum follows a move by both nations to increase the links between its respective financial services industries.
In a joint statement by Australia's Financial Services Minister, Joe Hockey and the Hong Kong Secretary for Financial Services, Stephen Ip, the groups will look into greater co-operation in many issues relating to financial services.
Issues will include cross-border fundraising, intermediary licensing, market and clearing licensing, and enhancing the strong relationship between SFC and the Australian Securities and Investment Commission (ASIC) in areas of training, enforcement and surveillance.
Recommended for you
Multiple industry organisations have shared their thoughts on AFCA’s proposed rules amendment, supporting the idea of firms being named publicly when they fail to comply with determinations.
Channel Capital has appointed a head of investment oversight who joins from 14 years at asset consulting firm JANA Investment Advisers.
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
