The Securities and Futures Commission (SFC) has reprimanded and fined Deutsche Bank HK$1.6 million for regulatory breaches and internal control failings.
The Securities and Futures Commission (SFC) has reprimanded Citigroup Global Markets Asia Limited (Citigroup) for failing to ensure its algorithmic trading systems functioned property for certain securities orders between April 2009 and May 2010.
Hong Kong Exchanges and Clearing’s new sponsor regime for listing applicants has been working well, curbing vetting time for applicants and improving quality of applications.
Hong Kong and the United States have concluded discussions on an inter-governmental agreement that will facilitate Hong Kong financial institutions' compliance with the US Foreign Account Tax Compliance Act.
Hong Kong Exchanges and Clearing (HKEx) has received approval from the US Commodity Futures Trading Commission (CFTC) to clear over-the-counter derivatives for US clients.
Crowd-funding that allows people to raise money for loans, causes, or projects through the web pose potential regulatory compliance issues and other investment risks.
The International Monetary Fund has warned of Hong Kong banks' rising exposure to mainland debt.
The Royal Bank of Scotland (RBS) has been fined HK$6 million for internal control failures relating to the detection and prevention of unauthorized trading activities.
Hong Kong Exchanges and Clearing will offer renminbi-denominated futures for zinc, copper and nickel, under plans to expand its commodities trading this year.
Hong Kong is ready for Islamic bonds following the establishment of a tax framework that supports sukuk issuance, and as the government further develops a market for such bonds in the territory with the debut of a government sukuk.