Hong Kong
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411Hong Kong Court Dismisses Short Seller’s Trading Ban Appeal
Editors, Regulation Asia February 28, 2019The Court dismissed an appeal from short seller Andrew Left to overturn a 2016 ruling banning him from trading in Hong Kong for five years after he published a report containing false information.
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409SFC Suspends China Merchants Securities Exec Over Sponsor Work
Editors, Regulation Asia February 28, 2019The SFC said Wu Yinong breached the Code of Conduct and the Sponsor Guidelines when he was a sponsor principal in charge of supervising the execution of a 2009 listing application.
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562Hong Kong Passes Profits Tax Exemption Bill for Funds
Editors, Regulation Asia February 25, 2019The Bill seeks to enhance the competitiveness of Hong Kong's tax regimes by creating a level playing field for all funds operating in the city.
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569HKMA Chief of Ten Years Set to Retire in September
Editors, Regulation Asia February 22, 2019Norman Chan will leave behind a healthy banking industry with strong capital ratios and low bad debt levels. A selection panel will identify the HKMA's next chief.
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860HKMA Turns Up the Heat, Announces Consultation on IBOR Transition
Will Hallatt, Herbert Smith Freehills and Hannah Cassidy, Herbert Smith Freehills February 22, 2019The outcome of the HKMA and TMA consultation will be a turning point for financial services firms preparing for life after LIBOR, says international law firm Herbert Smith Freehills.
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375
SFC Issues Update on ‘Front Loaded’ Approach to Listing Rules
Editors, Regulation Asia February 22, 2019The SFC "will not hesitate to intervene at an early stage" when it has serious concerns about IPO applications or post-IPO corporate transactions.
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627CSRC Probes Losses at GF Securities Hedge Fund
Editors, Regulation Asia February 22, 2019The CSRC is seeking details about large trading losses at a hedge fund managed by GF Securities' Hong Kong unit. Citigroup faces up to $180mn in losses on a loan to the fund.
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366
Hong Kong Finance Manager Convicted of Insider Dealing
Editors, Regulation Asia February 21, 2019A GEM stock finance manager was in possession of inside information related to unaudited losses and an impending share suspension when he and his father sold their shares in the company.
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678HKMA, PBOC Collaborate on Cross Border Financial Services – Report
Editors, Regulation Asia February 20, 2019As part of a plan to develop the Greater Bay Area, the HKMA and PBOC are reportedly planning to work together on the introduction of cross-border mobile payments and other financial services.
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668SFC Fines Guosen Securities $1.94mn for AML Breaches
Editors, Regulation Asia February 19, 2019The Hong Kong unit of Guosen Securities failed to make enquiries into or report thousands of suspicious third party deposits.
