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Hong Kong
Enforcement
HK Investment Banks Face Naked Short Selling Fines in Korea
By Manesh Samtani | 16/10/2023
The FSS said it uncovered illegal short selling by two global investment banks. The banks were identified by local media as BNP Paribas and HSBC.
AML / KYC
HKMA Announces Enhancements to Anti-Fraud Initiatives
By Manesh Samtani | 15/10/2023
FMLIT expanded to include more AIs; FINEST to cover more banks; FPS to gain pre-transaction alert mechanism.
Enforcement
Hong Kong: ICAC Arrests 20 for MPF Withdrawal Fraud
By Mark Johnston | 14/10/2023
The ICAC arrested 20 people, including an insurance agent, for allegedly using forged documents to withdraw MPF balances early.
Big Picture
REITs Connectivity Will Boost Mainland and Hong Kong: HKEX
By Sanday Chongo Kabange | 13/10/2023
Expanding market connectivity to include REITs will increase Hong Kong’s attractiveness and promote the internationalisation of the Mainland capital market.
AML / KYC
HK ICAC Hosts First Belt & Road Anti-Corruption Training
By Sanday Chongo Kabange | 13/10/2023
The ICAC said it is contributing to building a “Clean Silk Road” by providing anti-corruption training to Belt and Road countries.
Enforcement
SFC Bans Investment Banker for Seven Years for Sponsor Failures
By Editors | 12/10/2023
The SFC said there was a need to send a “strong deterrent message” that failures of sponsors and sponsor principals will not be tolerated.
Securities / Derivatives
SFC Proposes New Guidelines for Market Soundings
By Manesh Samtani | 12/10/2023
The proposed guidelines introduce a common set of “Core Principles” for market soundings to prevent misuse of non-public information.
ESG / Sustainability
An Exploration of Greenwashing Risks in Investment Fund Disclosures
By Nicole Gehrig | 11/10/2023
Nicole Gehrig discusses concerns about greenwashing in the investment management industry and recommendations to address problematic disclosures.
Capital / Liquidity
HK Wealth Firms See Regulatory Environment Improving
By Manesh Samtani | 09/10/2023
More than 80% of PWMA member firms surveyed expect the new framework for sophisticated professional investors to bring a positive impact.
Crypto / Digital Assets
China Establishes CBDC Connectivity with Hong Kong FPS
By Editors | 07/10/2023
Members of the Hong Kong delegation at the Asian Games in Hangzhou are able to download the e-CNY mobile app and recharge their accounts via FPS.
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