Measures are part of efforts to boost Hong Kong’s competitiveness as a fintech hub.
Regulator penalises bank for regulatory breaches, internal control failures.
Proposal to give SFC more say has prompted claims it will reduce HK's appeal as an IPO destination.
Authority says some KYC/AML measures ‘disproportionate’; looking at KYC utilities to ease regulatory burden.
Duo claimed commissions on fictitious unit trust sales.
Scheme will include arrangements to protect volunteers in financial technology trials.
Reported incidents include underpayment of stamp duty on OTC transactions.
Regulator says bank overcharged on equities, bonds, structured products, options, swaps and funds.
Mandatory clearing covers HKD- or G4 currency-denominated interest rate swaps.
Managing staff responsible for AML, CTF systems implementation encouraged to attend.
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