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Hong Kong
Enforcement
HK Court Orders Confiscation of HK$63m from Bribery Case
By Mark Johnston | 12/05/2023
The investor bribed a former Deutsche Bank director to obtain insider information to help him trade derivative warrants.
Market Infrastructure
PCAOB Publishes Findings from Audit Inspections of Chinese Firms
By Editors | 12/05/2023
The PCAOB said it found an “unacceptable rate” of deficiencies in the KPMG and PwC audits of US listed Chinese companies it reviewed last year.
Market Infrastructure
HKEX May Allow Market to Remain Open During Typhoons
By Editors | 12/05/2023
A working group from HKEX and the HKMA is reportedly drafting a plan to allow trading to continue as normal during typhoons and rainstorms.
Market Infrastructure
Swap Connect – A New Addition to the Connect Family
By Chong Liew | 11/05/2023
Swap Connect will mark another milestone for Hong Kong as a “super-connector” between mainland China and the rest of the world, says Chong Liew.
Capital / Liquidity
HKMA Specifies Regulatory Treatment of Swap Connect Margins
By Editors | 10/05/2023
Margins posted by banks to OTC Clear for participating in Swap Connect should be treated in the same manner as default fund contributions.
Fintech / Regtech
HKMA Issues Regtech Guide on Protecting Customer Data
By Editors | 10/05/2023
The guide offers implementation advice for using Regtech solutions to enhance customer privacy protection and streamline data processing operations.
Hong Kong Passes Bill to Grant Tax Incentives to Family Offices
By Editors | 10/05/2023
The tax concession will be applicable to any years of assessment commencing on or after 1 April 2022.
AML / KYC
HK Police Launch Advisory Panel to Help Combat Cybercrime
By Editors | 09/05/2023
The panel members will share recent technological developments, information on potential threats, and practical advice on police technologies.
AML / KYC
HKMA Calls for Broader Adoption of Network Analytics by Banks
By Manesh Samtani | 09/05/2023
Around 60 percent of retail banks in Hong Kong are now deploying network analytics. Some are using this capability to file “super STRs”.
AML / KYC
HK Companies Registry Issues AML Guidance for TCSP Licensees
By Editors | 09/05/2023
New guideline seeks to help trust or company service providers devise and implement policies, procedures and controls for AML/CTF.
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