HKEX, SSE, SZSE to set up joint working group to formulate supplementary rules for including dual class shares in Stock Connect southbound trading, following ‘special stability trading period’.
Holding companies of existing qualified professional investors will gain status as professional investors; intermediaries must obtain confirmation that their shareholders are notified of the change.
Guide provides clearer framework and timelines to facilitate more efficient introduction of new structured products.
Procedures to verify client identities include obtaining a digitally signed agreement and identity document copy, and the use of designated accounts in the client’s own name only for deposits and withdrawals.
Platform will boost efficiency, lower costs and reduce fraud risks in trade finance for participating banks, which include HSBC, SCB, ANZ, BEA, DBS and Hang Seng.
Investment management firms with operations in Hong Kong must turn their attention to the new SFC Fund Manager Code of Conduct, which comes into force in four months.
Shanghai and Shenzhen bourses release joint statement barring domestic investors from trading in foreign companies, stapled securities and stocks with weighted voting rights structures listed in Hong Kong.
SFC found that due to an incorrect system setting for client profiles, over 130 clients had accessed alternative liquidity pool Citi Match without being assessed whether they were qualified investors.
SFC has fined CCB International Capital HK$24mn for failing to conduct reasonable due diligence for seafood company Fujion Dongya Aquatics in its 2014 listing.
Proposals include streamlining of customer onboarding processes and a requirement to implement group-wide AML/CFT systems at overseas branches and subsidiaries.
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