Financial Regulatory Forum

HONG KONG/NEW YORK, March 26 (Business Law Currents) – China’s bourse regulators and the nation’s IPO watchdog, the China Securities Regulatory Commission, have been busy brainstorming improvements to legislation governing the disclosure requirements of listed companies in the PRC.

Aiming to bring increased transparency and other investor protection merits often associated with a disclosure-based securities regulatory framework, the CSRC is contemplating models from Hong Kong, the United States and other jurisdictions where listed companies are required to publicly disclose corporate and financial statements in a timely manner. (more…)

By Jonathan Spicer

NEW YORK, Jan 26 (Reuters) – The major U.S. exchanges are considering asking regulators to allow price quotes in increments as small as one-tenth of a cent for some stocks, a move that could revamp trading fees and the flow of orders in capital markets.

NYSE Euronext, Nasdaq OMX, privately held

BATS Global Markets and alternative venue Direct Edge, which plans to become a formal exchange operator this year, said the most heavily traded stocks could be priced more efficiently if they had narrower increments, or “tick sizes.”

Any narrowing of the ticks would likely involve only a subset of securities, possibly those stocks worth less than $5 or $10, some exchanges said. The current penny increment could be narrowed to a half-penny or as much as a tenth of a penny.