Hong Kong

James Lau said China is becoming a pioneer in setting global standards with an “open and supportive regulatory environment”; HK a “premier listing platform” for mainland enterprises.

Fitch Ratings cut its assessment of Hong Kong banks’ operating environment from A+/negative to A/stable because of growing influence of Chinese economy on the industry.

The ten key points you need to know about the SFC's consultation conclusions on changes to the Fund Manager Code of Conduct, due to be implemented in six months' time.

Eligible bond issuers can apply for a grant equivalent to half of eligible issuance expenses, including for debt origination and structuring, legal, audit, sales and distribution, up to HKD2.5mn.

Enhanced IOSCO framework enables securities regulators to obtain and share audit working papers, telephone, internet records; compel attendance at interviews; provide guidance on freezing of assets.

Asian regulators, former central bankers and government officials establish information exchange alliance to better regulate fintech, digital payments and cryptocurrency developments in the region.

Banks now allowed to use big data technology and consumer behavioural analytics to assess credit risks for personal lending portfolios.

Rules include requirements related to investor protection, information disclosures; Shanghai-London Stock Connect to allow cross listings of depository receipts.

Regulator requires two years of full records, client authentication and validation, a written contingency plan and compliance reviews for instant messaging use.

While Hong Kong struggles to reduce and contain money laundering activities at existing financial institutions, the role of cryptocurrencies in undermining compliance and enforcement capabilities is overlooked.