HKEX and SFC recently decided to admit dual class share listings, but reject a start-up board. Their decisions will change key regulatory principles.
HKMA, SFC say some intermediaries aren’t revealing related counterparties, not executing at best price, hide cheaper products.
Hong Kong financial companies need further improvements to guard against risky behaviour.
Securities and Futures Appeals Tribunal says future fines will be similarly large and exceed ‘mere cost of doing business’.
Digital onboarding can help banks provide a superior customer experience, guarantee AML compliance and improve internal efficiency.
Securities and Futures Commission says Hong Kong is not ready to ban commissions and introduce a pay for advice model.
Court also rules a person’s lack of awareness they are trading on inside information doesn't mean they don't have to pay back illicit gains.
HKMA says audit functions must be separate from risk and compliance; will only allow outsourcing ‘under very limited circumstances’.
Regulator says prime brokerage a growing revenue stream for institutions as Hong Kong’s asset management, hedge fund sectors expand.
Abandoning plans for third board and allowing main board dual-class shares do nothing to support start-ups or attempts to reinvent HK economy.