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AML / KYC
Hong Kong Seeks Status as Global Hub for Virtual Assets
By Manesh Samtani | 17/10/2022
A new policy statement to be issued at Hong Kong FinTech Week may spell out plans to include retail investors in the city’s VASP regime.
Enforcement
Hong Kong Court Convicts Former Fulbright Securities AE
By Editors | 17/10/2022
The former account executive, banned for life in 2017, pleaded guilty to employing a fraudulent scheme involving securities transactions in eight stocks.
Hong Kong Launches Sustainable Finance Internship Initiative
By Editors | 13/10/2022
A centralised repository has been launched offering information about green and sustainable finance internship openings offered by FIs and other companies.
Enforcement
SFC Fines Asset Manager Over European Rule Breaches
By Editors | 12/10/2022
ARCM failed to implement adequate systems and controls to monitor its short position and ensure it was properly reported and disclosed to the public.
Hong Kong Financial Secretary Defends City’s Hub Status
By Editors | 12/10/2022
Paul Chan outlines the competitive advantages Hong Kong enjoys, offering financial market statistics on how the city compares to Singapore.
Capital / Liquidity
HKMA Consults on Market Risk, CVA Risk Frameworks
By Editors | 12/10/2022
HKMA is consulting on proposed BCR changes and two new SPMs for implementation of the revised market risk and CVA risk frameworks.
AML / KYC
US Says Hong Kong Risks Becoming Haven for Sanctioned Russians
By Editors | 11/10/2022
The warning came days after Hong Kong indicated it would not pursue action against a superyacht owned by a sanctioned Russian oligarch that docked in the city.
AML / KYC
HK Victims Have Lost HKD 2.6 billion to Scams This Year
By Editors | 10/10/2022
Online investment fraud accounted for HKD 540 million of all online scams, which is largely attributed to an increase in crypto-related scams.
Securities / Derivatives
HKIFA Calls for Review of MPF Investment Framework
By Editors | 10/10/2022
The HKIFA is calling for relaxations to allow MPF funds to invest in a wider range of asset classes, and to provide investment flexibility to those already in retirement.
Enforcement
HK Court Orders Founder to Buy Shares from Wronged Investors
By Editors | 07/10/2022
The order is the first made to require a listed company executive to buy shares held by other investors “at a price to be determined by the court”.
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