Rocky Tung is a director of capital markets policy for the Asia-Pacific region at CFA Institute. He is based in Hong Kong and is responsible for conducting research projects related to capital market structures in the region. He has over a decade of experience in economic and policy research, working closely with business leaders, government officials, academics and other stakeholders.
On 23 February, the Hong Kong Stock Exchange (HKEx) launched the second—and likely final—round of consultation before dual-class share (DCS) structures are expected to be introduced to the Hong Kong market later this year.
After some hiccups earlier this decade, talks of permitting the listing of companies with dual-class share (DCS) structures have gained traction in Hong Kong and Singapore, two major financial centers in Asia .
Europe should keep options open and not automatically follow the Federal Reserve's lead in ceasing asset purchases, Bank of France Governor Francois Villeroy de Galhau says. The European Central Bank has indicated it will stop adding to a €2.6 trillion asset pile and has hinted of an interest-rate increase late next year. Reuters (14 Oct.)
The Securities and Exchange Commission is developing standards of conduct to guide financial professionals who advise clients. The standards have much in common with the Labor Department's fiduciary rule, which the 5th US Circuit Court of Appeals has vacated. Pensions & Investments (free access for SmartBrief readers) (15 Oct.)
Negotiators for the EU and the UK could not finalize the terms of a Brexit deal over the weekend, and diplomats said politicians from both sides will have to intervene in the talks, which have been largely technical until now. The biggest obstacle is finding a way to avoid creating a hard border between Ireland and Northern Ireland. Politico (15 Oct.)
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