Hong Kong

The Insurance Authority is delegating inspection and investigation powers to the HKMA in relation to insurance related business conducted by authorised institutions.

Synpulse’s Prasanna Venkatesan, Gregory Achache and Marina Mai compare China and Hong Kong's regulatory frameworks in relation to culture and conduct.

Following Hong Kong's extradition bill protests, wealth managers and private banks have seen increased queries from clients looking to set up channels to move assets to Singapore.

Glory Sun Securities has been fined HK$1.2m for failing to ensure compliance with short selling requirements. Two responsible officers and an account executive have also been suspended.

Both the revised leverage ratio treatment of client cleared derivatives and the revised disclosure requirements will come into effect in Hong Kong on 1 January 2022, in line with the BCBS timetable.

Celestial Commodities Limited may have been using client money to pay commission rebates for up to 20 years for the sake of operational convenience.

Intermediaries and AIs must sign an acknowledgement letter making clear that assets held in designated client asset accounts are protected from recourse.

The expansion will help improve trading liquidity at close, simplifying operations of market participants, and standardise closing times for equities.

Directors of listed companies have a duty to exercise due and reasonable care, skill and diligence when evaluating or approving the acquisition or disposal of a company or business.

Leissner’s conduct in relation to the Malaysian state fund 1MDB called into question his fitness and properness to be a licensed person, the SFC said.