Two securities brokers accepted commissions to arrange for their clients to use a futures trading programme provided by a software company.
Deutsche Bank has reportedly secured two senior hires who will be able to act as IPO principals, subject to regulatory approval.
Victims lost HK$214m in cryptocurrency crimes in the first half of 2021, compared to HK$114.4mn across all of 2020.
The breaches involve research report disclosures, telephone recordings, client derivatives knowledge assessments, and structured product sales.
China and Hong Kong will promote mutual recognition and assistance in bankruptcy procedures. Mainland judicial practice training will be arranged for Hong Kong legal professionals.
In an addendum, State Street says TraHK units will not be offered or sold in the US or to US persons located outside the US.
Banks are expected to review their remuneration systems and adopt all necessary changes by 1 January 2022, the HKMA says.
The Guide will help banks assess whether they have the appropriate governance, controls, skills, infrastructure and underlying data to adopt Regtech solutions in ongoing monitoring of customers.
Ramp-and-dump scams now account for about half of the market manipulation cases being investigated by the SFC. Overseas investors also being targeted.
Under the proposed regime, regulatory powers currently vested with the HKICPA will be transferred to the Financial Reporting Council.
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