Hong Kong

Herbert Smith Freehills says the HKMA push for adoption of the Ethical Accountability Framework in FinTech development represents a broader movement toward regulating artificial intelligence.

Given the similarities between Hong Kong and China's KYC frameworks, cross-border onboarding and account opening has become less of a challenge, say Synpulse’s Prasanna Venkatesan, Gregory Achache and Marina Mai.

A former sales representative of DBS Bank in Hong Kong was last week sentenced to 14 months' imprisonment for defrauding the bank of loans and commissions.

The new arrangement enabling Hong Kong-seated arbitrations to seek interim measures from mainland courts represents a step forward for China's offshore financiers.

The Financial Reporting Council will commence its role as the independent oversight body for auditors of listed companies from 1 October this year.

The enhancement will provide investors greater flexibility during US market hours and improve risk management, HKEX says.

The HKMA is addressing culture and conduct risk by learning from other markets, engaging with other regulators, and exploring new technology, say Jeff Kupfer and Stephen Scott at Starling Trust.

A former JP Morgan Securities managing director offered to employ the son of a potential client as a reward for "showing favour" in hiring the bank for IPO sponsor work.

Charges were laid against Cho Kwai Chee, a former director of Convoy Global Holdings, one of the companies said to be at the centre of the so-called 'enigma network'.

The SFC has found brokers that are failing to comply with the expected standards on client facilitation, and plans to take action against both individuals and firms.