PASLA was incorporated in Hong Kong in 1995 and is and association of firms that are active in the business of borrowing and/or lending securities of Asian markets.
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PASLA provides a collective voice and an industry consensus on issues that affect the development of the securities lending business.
PASLA works with regional regulators and exchanges to assist in the further development of the securities lending business.
The Financial Services Commission (FSC) has proposed a revision on regulation to introduce standards that will determine penalties imposed on investors that violate short selling rules.
The Ministry of Economy, Trade and Industry (METI) announced that cabinet orders related to inward direct investments were revised to expand the category of indirect direct investments, which may require filing a prior notification or post reporting to the Ministry of Finance (MOF) and other regulators by foreign investors, effective 26 October 2019.
THE CBIC has responded to market participants' requests to clarify the treatment of the supply of securities with respect to GST. As per the Circular, the supply of lending of Securities under the scheme is classified under the heading 997119 and is leviable to GST @18% dated 28/06/2017 (under Sl. No. 15(vii) of Notification No. 11/2017- Central Tax (Rate). The definition of “Service” has been enhanced and includes “facilitating or arranging transactions in securities”. Activities like the lending of securities are not excluded from the definition of services.
Frequently Asked Questions (FAQs) posted on the SFC website today address concerns of the industry about compliance with the benchmarks set out in the guidelines, which will be implemented on 4 October 2019. The FAQs state that the objective of the guidelines is to help brokers identify the financial risks in relation to their securities margin financing business and to assist them in properly managing these risks to their excess liquid capital buffers.
The Monetary Authority of Singapore (MAS) has issued an update to its Guidelines on the regulation of short selling dated 24 September 2019 and then revoked the Guidelines issued on 9 January 2013.
These Guidelines aim to provide market participants with a better understanding of how MAS will administer the legislative provisions relating to the short selling disclosure and reporting in Part VIIA of the Securities and Futures Act (SFA).
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Thank you for your interest in PASLA. Membership of PASLA is available for all companies that are actively engaged in securities lending, borrowing, or repo in the Asian markets or are working to develop these capabilities.
Membership is open to any organisation that is a regular borrower or lender of securities or regularly enters into Repo transactions. The Board may decide to confer Honorary Member Status on institutions that do not meet this definition. Membership includes Access to Country Profiles on this websites, Summary of Executive Committee meetings and country updates and much more.
Comes with lot of membership benefits like Full access and invitation to meetings, Access to Country Profiles, Summary of Executive Committee meetings and country updates and much more.