Completion of reform implementation and greater transparency needed for OTC derivatives market; resolution framework can be improved.
Rather than comply with new rules on beneficial owner registration and due diligence, many trusts are likely to simply leave Hong Kong for less onerous jurisdictions.
HKMA financial technology sandbox needs to evolve to maximise value for all concerned, a new study suggests.
SFC’s recent newsletter on enforcement priorities details concern on false financial statements, IPO fraud and other sponsor failures.
Criminal charges laid by securities regulator nearly tripled in last nine months of 2018, although investigations started and concluded declined.
For the first time, visitors to Hong Kong will soon have to declare cash they bring in. But money laundering will continue to flourish.
Client facilitation traders must be segregated from agency traders to protect client information and avoid conflicts of interest.
The firm’s electronic trading system repeatedly submitted orders without regard for market liquidity and without effective price and volume controls.
Proposed virtual banks rules fail to address the true future of financial services, risking Hong Kong’s descent into irrelevancy.
Regulatory breaches include failures related to segregation of client securities, reporting of transaction, noncompliance with short selling requirements, unsuitability of investment products sold to clients.
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