Hong Kong’s bourse today finally gave the go-ahead to controversial rules to allow “innovative” companies with weighted voting rights to IPO in the city.
Issuance of low denomination bonds has collapsed this year as new European Union trading rules appears to have left underwriters wary of falling foul of tighter rules on marketing products to retail investors.
Financial firms need to be more rigorous when interviewing potential employees to make sure they do not hire “bad apples” with a record of misconduct who move from job to job without disclosing previous issues, the Financial Stability Board said.
US banks welcomed the proposals by the Federal Reserve and the Office of the Comptroller of the Currency to simplify the supplementary leverage ratio and rewrite rules on stress testing.
An Australian inquiry into financial sector misconduct claimed its first scalp on Friday as the chief executive of the country’s largest wealth manager stepped down over revelations of board-level deception and misappropriation of funds.