Hong Kong
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HSBC Private Bank Fined $50mn for Crisis-era Product Mis-selling
Editors, Regulation Asia November 23, 2017Securities and Futures Appeals Tribunal says future fines will be similarly large and exceed ‘mere cost of doing business’.
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1.9KThe Challenges for Offshore Banks Onboarding China’s HNWIs
Appway November 20, 2017Digital onboarding can help banks provide a superior customer experience, guarantee AML compliance and improve internal efficiency.
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Hong Kong to Continue to Allow Mutual Fund Sales Commissions
Editors, Regulation Asia November 20, 2017Securities and Futures Commission says Hong Kong is not ready to ban commissions and introduce a pay for advice model.
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HK Court Confirms SFC Authority in Insider Trading Conducted Overseas
Samuel Riding November 13, 2017Court also rules a person’s lack of awareness they are trading on inside information doesn't mean they don't have to pay back illicit gains.
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Hong Kong Sets out Internal Audit Requirements for Authorised Institutions
Editors, Regulation Asia November 2, 2017HKMA says audit functions must be separate from risk and compliance; will only allow outsourcing ‘under very limited circumstances’.
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HK SFC Launches Thematic Review of Prime Brokerage, Equity Derivatives
Editors, Regulation Asia November 1, 2017Regulator says prime brokerage a growing revenue stream for institutions as Hong Kong’s asset management, hedge fund sectors expand.
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Hong Kong Dual-class Listings Not Quite a Brave New World
Peter Guy, Regulation Asia October 30, 2017Abandoning plans for third board and allowing main board dual-class shares do nothing to support start-ups or attempts to reinvent HK economy.
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HK Brokers Face Cost Squeeze from Cybersecurity Guidelines
JP Reimann October 30, 2017Brokers will be required to use 2FA for client log-ins; implement raft of new measures including management responsibility, stress tests.
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Guangdong, HK to Boost Financial Cooperation
Editors, Regulation Asia October 30, 2017Governments to relax restrictions on cross-border business operations and boost RMB flows; cooperate further on fintech and green finance.
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Old Rivals Hong Kong, Singapore Launch Fintech Tie-up
Editors, Regulation Asia October 26, 2017Decision to work together on distributed ledger, other fintech initiatives belie reputed rivalry between two financial centres.
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