September Newsletter

ComplianceAsia has published its regulatory newsletter covering Asia wide developments during September.

The summary is as follows:

This month we see discussion about the creation of a Super Regulator for China – although it might not be so super after all.

Back in June the Bank of New York published an interesting paper on Hedge Fund Operational Risk. With September seeing a lot of industry comment in relation to the losses at US fund Amaranth the paper, which can be found on the BONY website (www.bankofny.com) , is an interesting read. The topic deserves more detailed discussion than the length of this paper but it is a good primer.

As we go to print with this newsletter the HK SFC has just released the findings from its survey on hedge funds. The survey states that there are now 118 hedge funds / hedge fund advisors licensed and operating in Hong Kong. The findings were interesting and we will be discussing them further in the next newsletter and on our blog (www.complianceasia.blogspot.com ).

Singapore has released proposals to place some additional administrative burden on exempt fund managers in relation to licensing by bringing individual licensing of Representatives into line with requirements for CMS license holders. The consultation paper is online at the MAS website.

With the last quarter of the year upon us, Hong Kong licensed personnel should be reviewing their training hours for the year. The training requirements are based on a calendar year so it all needs to be done by December 31.

ComplianceAsia will be helping out here by hosting some client training and general training sessions in Hong Kong and Singapore between now and the end of the year. If you receive this newsletter you will get an email about the training. If you are a client and want to know more please contact Philippa in Singapore or Nick or Alex in Hong Kong.

Queenie Yu from our Hong Kong office has compiled an online database of all upcoming financial industry training that we are aware of that will, or may, qualify for CPT in Hong Kong. Clients can access this by contacting Queenie in the Hong Kong office. If you are from a law firm, prime broker or training provider and would like your courses listed please give Queenie a call.

Email Idy@complianceasia.com if you would like to subscribe to the newsletter.