In its three year strategic plan unveiled earlier this year, HKEX said it would work to become a hub for the issuance and trading of ETFs in Asia.
Hong Kong's Financial Reporting Council will be able to access audit papers located in the mainland "through an effective mechanism and clear procedures".
Though the CLSA-CITIC fallout was characterised as a cultural clash, this narrative frays against the other challenges facing stock brokers and investment bankers, says Peter Guy.
China Merchants Securities was a joint sponsor with UBS – fined in March – for the 2009 IPO of China Metal Recycling, which was found to have fabricated financial information.
Trading in a Hong Kong listed company will be suspended if the auditor issues a disclaimer or adverse opinion for any financial year commencing on or after 1 September 2019.
The SFC has clarified aspects of the new disclosure obligation, but concerns remain over logistical and administrative burdens, say ASIFMA and Herbert Smith Freehills.
HKEX is reviewing its ESG reporting framework to ensure it remains fit for purpose and is up to date with investor and stakeholder expectations and international best practice.
Herbert Smith Freehills says the HKMA push for adoption of the Ethical Accountability Framework in FinTech development represents a broader movement toward regulating artificial intelligence.
Given the similarities between Hong Kong and China's KYC frameworks, cross-border onboarding and account opening has become less of a challenge, say Synpulse’s Prasanna Venkatesan, Gregory Achache and Marina Mai.
A former sales representative of DBS Bank in Hong Kong was last week sentenced to 14 months' imprisonment for defrauding the bank of loans and commissions.