Most Asian jurisdictions are behind on implementing counterparty credit risk measures, capital for CCP exposures as well as TLAC, IRRBB and LEX requirements.
Founding and controller shareholders of HK-listed Chinese companies will be able to convert non-tradable stock into ordinary H-shares, starting with Legend Holdings.
HSI, HSCEI and Mini HSI will be tradeable between 5:15pm and 1:00am, with a trading halt mechanism in place to avoid extreme price movements.
Government reviewing and enhancing existing tax concession arrangements for fund industry; HKMA to launch real-time payments, issue virtual bank licences this year.
NASDAQ technology aims to better safeguard market integrity, detect unusual trading and market abuse, and provide immediate review of group activity involving coordinated trades.
BOJ-NET link with HKD CHATS will effectively eliminate the need for the US dollar as an intermediate currency in cross-border transactions.
Several online brokers had been hoping for a delay, tech advisory firm suggests some are ‘willing to trade a little security for convenience’.
Secretary for Financial Services and the Treasury expects banks to comply with requirements of HKMA personal data privacy ordinance.
The firm failed to put in place reasonable controls to ensure non-proprietary orders received execution priority, prevent erroneous and disorderly orders being sent to the market.
Executive director also says regulator to develop common standard on the content and format of data required to be kept by investment firms.