The brokerage did not have effective controls to identify third party deposits, and "extensive deficiencies" were found in its handling of margin lending and margin calls.
The SME director was sentenced for conspiring to defraud five banks, the Trade and Industry Department, and the Hong Kong Mortgage Corporation.
All corporate customers with annual turnover under HK$800mn and with no outstanding loan payments more than 30 days overdue are eligible for the principal payment holiday.
ETF management companies should procure more than one market maker, or secure arrangements for alternative market makers to quickly step in if there is a disruption.
Administered by HKMC Insurance, the Special 100% Loan Guarantee Scheme has been expanded to total guarantees of HK$50bn, alongside a doubling of the per-enterprise loan limit.
Prompted by the PBOC raising its stake in HDFC to over 1%, SEBI is reportedly concerned that Indian companies may face takeover threats from Chinese investors.
‘Mox Bank’ - backed by Standard Chartered, PCCW, HKT and Trip.com - has become the third virtual bank to launch pilot services in Hong Kong.
Brokers reported that more than 60% of clients who engage in leveraged foreign exchange trading made net trading losses, some in excess of HK$1mn.
The regulatory reserve release should be used to support customers impacted by Covid-19, and not to distribute dividends, buy back shares or pay bonuses.
Submissions to a January 2019 consultation indicate strong support for the implementation of an uncertificated securities market in Hong Kong.
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