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Enforcement
HKMA Fines Commerzbank for CDD & PEP Screening Failures
By Editors | 29/08/2022
The HKMA found control lapses in onboarding due diligence as well as ineffective procedures for determining whether beneficial owners were PEPs.
Enforcement
SFC Probes AMTD Over Past Underwriting Deals – Reports
By Editors | 22/08/2022
The full scope of the probe into AMTD Group and its current status are “unclear”, but it is said to be related to previous underwriting deals.
Securities / Derivatives
Hong Kong Tracker Fund to Add RMB Trading Counter
By Editors | 22/08/2022
The RMB counter will trade only in the secondary market, starting from 19 September, when Hang Seng Investment Management takes over as manager.
Market Infrastructure
HKEX to Drive Growth Through New Products, Listing Reforms
By Editors | 18/08/2022
HKEX reported its lowest interim profit since 2017, attributed mostly to investment losses and lower fees from securities trading and IPOs.
Securities / Derivatives
Fund Managers Relocating Staff Away from Hong Kong: HKIFA
By Editors | 18/08/2022
A survey of 36 fund managers found that almost 70 percent are finding it difficult to hire non-local and non-mainland staff to work in Hong Kong due to Covid restrictions.
Enforcement
Hong Kong FRC Probes Evergrande, PwC Over Loan Guarantees
By Editors | 16/08/2022
The FRC is concerned about deposits held by Evergrande’s property services unit that were pledged as security for third parties to obtain bank loans.
Enforcement
HK Exchange Censures Ping An Securities, Two Former Directors
By Editors | 16/08/2022
The two former executive directors of Ping An Securities caused losses to the company through unapproved loans and asset disposals.
Market Infrastructure
SFC, CSRC Agree to Align Trading Calendars for Stock Connect
By Sanday Chongo Kabange | 15/08/2022
Northbound and southbound Stock Connect trading will be possible on all trading days when both the Hong Kong and Mainland China markets are open.
Crypto / Digital Assets
HKMA, InvestHK Invite Firms to Showcase CBDC Solutions
By Editors | 11/08/2022
A CBDC track has been added to Global Fast Track 2022. Banks, fintechs and tech firms are asked to submit innovative solutions in eight focus areas.
AML / KYC
Hong Kong Saw Almost HK$400m in Crypto Scams in H1 2022
By Editors | 11/08/2022
Crypt-related scams, job scams and online shopping scams made up the top three types of cybercrimes in Hong Kong in the first half of this year.
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