Investigations of about 250 firms including subsidiaries of US and EU players also find weaknesses in avoiding conflicts of interest and liquidity management.
AML/CTF efforts in Hong Kong are gaining momentum as it gears up for the upcoming mutual evaluation by FATF in 2018.
SFC says some ICOs are either share, debenture or collective investment schemes; some traders in secondary market could be regulated entities.
Agreement aims to clamp down on financial crime via securities markets; SFC has identified ‘multiple weaknesses’ in broker AML/CTF.
Two-stage testing of Phase 2 reporting to depository covers interest rate, foreign exchange, equity, credit and commodity derivatives.
HKEX needs to develop regulations and boards to accommodate the entire chain of technology from start-ups to unicorns.
Regulator has asked for number of withdrawals and amounts to regulate the use of UnionPay cards in Hong Kong.
Conduct and regulatory risks continue to mount as China’s crackdown on corruption puts pressure on private banks and wealth managers.
Papers analyses regional divergence in frameworks across Singapore, Hong Kong and Japan.
Hong Kong securities regulator expresses concerns on the management of private funds and discretionary accounts.
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