Hong Kong

Enforcement

HK ICAC Charges Asset Manager for Laundering HK$50m

By Sanday Chongo Kabange | 14/06/2024

The ICAC charged Xiao Rui, the owner of asset manager Augustine Holdings, for laundering HKD 50 million.

Market Infrastructure

Hong Kong, Shenzhen Forms Financial Cooperation Committee

By Sanday Chongo Kabange | 14/06/2024

The committee will seek to foster deeper financial cooperation between Hong Kong and Shenzhen financial markets.

Fintech / Regtech

SZSE to Help HKEX Develop Integrated Fund Platform

By Sanday Chongo Kabange | 14/06/2024

HKEX’s Integrated Fund Platform will enable market participants to more effectively distribute fund products to clients.

HKMA Directs Banks to Review Insurance Referral Business

By Sanday Chongo Kabange | 14/06/2024

The HKMA asked banks to assess their compliance with prohibitions on the use of unlicensed agents to target Mainland customers.

Enforcement

US Authorities Arrest Two for Illegal Russia Export Scheme

By Editors | 13/06/2024

The two men engaged in a scheme to covertly sell snowmobiles to Russia through an intermediary company in Hong Kong.

Hong Kong: New Sovereign Fund Starts Deploying Capital

By Sanday Chongo Kabange | 13/06/2024

The HKIC, established in 2022, will make its first batch of investments in start-ups beginning this month.

Hong Kong, Singapore to Strengthen Cooperation on Scam Calls

By Editors | 11/06/2024

Hong Kong’s OFCA and Singapore’s IMDA have signed an MoU to strengthen their cooperation in combating scam calls and messages.

Securities / Derivatives

HKEX Targets September for Severe Weather Trading Launch

By Editors | 10/06/2024

HKEX is working to finalise the severe weather trading model and has set an internal target for implementation in September.

AML / KYC

GCFFC APAC Chapter Publishes First Financial Scams Report

By Manesh Samtani | 10/06/2024

The GCFFC calls for the establishment of an international task force or body with a clear anti-fraud and scams mandate.