Enforcement

SFC Seeks Damages for Tianhe Investors Over Defective Prospectus

07/09/2020

The SFC’s investigation revealed that about 53% of Tianhe’s total track record revenue disclosed in its 2014 IPO prospectus was overstated.

AML / KYC

Hong Kong Financial Firms Step Up Compliance Hiring – Report

07/09/2020

The demand for compliance staff has reportedly risen by a third in the past few months. Lawyers with sanctions expertise are in particularly high demand.

Capital / Liquidity

RBI Issues Revised Priority Sector Lending Guidelines

07/09/2020

The new guidelines will boost credit availability for startups, renewable energy, health infrastructure, small farmers, and “identified districts” with low credit flows.

Market Infrastructure

China to Expand Stock Connect, Deepen Reforms – Reports

07/09/2020

The scope of investment products foreign investors can trade via Stock Connect will be expanded, among other reforms, said the CSRC’s Fang Xinghai.

ESG / Sustainability

NGFS Publishes Two-year Work Programme, New Charter

07/09/2020

A new NGFS workstream being created will identify missing data items needed for effective climate-related and environmental risk analysis.

Market Infrastructure

DBS Launches SORA Business Property Mortgage Loan Package

06/09/2020

The package is tailored to allow SMEs to finance or refinance their commercial and industrial properties at more competitive rates.

AML / KYC

US Recovers $60m in 1MDB Funds from Najib Razak’s Stepson

06/09/2020

The assets recovered include luxury real estate in Beverly Hills, New York and London, a Kentucky maintenance company, and a 1927 promo poster for the film “Metropolis”.

Market Infrastructure

Green Finance Alliance for Greater Bay Area Launches

06/09/2020

The Alliance has been established to increase funding channels for green projects and guide government policies and investment projects.

HKMA Calls on Financial Sector to Support New Recruitment Scheme

06/09/2020

The Financial Industry Recruitment Scheme for Tomorrow scheme aims to create 1,500 full-time jobs in the financial services industry.