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Securities / Derivatives
New Guidance Issued on HKMA Funds Certification
By Editors | 02/09/2022
The guidance is intended to help funds and their auditors prepare the necessary reports needed to obtain carried interest tax concessions.
Fintech / Regtech
SFC Finds Deficiencies in Investment Services Offered Online
By Sanday Chongo Kabange | 02/09/2022
The SFC is calling on licenced corporations to address regulatory deficiencies identified in some investment services offered online.
Fintech / Regtech
HKMA Issues Guidance on Managing Cloud Computing Risks
By Manesh Samtani | 02/09/2022
Banks’ agreements with CSPs should ensure the HKMA can access information stored in the cloud and relevant risk management controls for on-site examinations.
Fintech / Regtech
HKMA to Launch API Link from CCRA to CDI in Q4
By Manesh Samtani | 01/09/2022
Banks are encouraged to access credit data in the CCRA database via the CDI, to help them automate credit approvals and enhance efficiency.
Securities / Derivatives
PCAOB Picks Chinese Firms for First Audits Checks – Report
By Editors | 31/08/2022
Alibaba, Netease, Baidu, JD.com and Yum China are among the first Chinese firms selected for the PCAOB’s audit checks in Hong Kong
AML / KYC
HKMA Warns of Deposit Scams Being Used by Fraudsters
By Editors | 30/08/2022
Fraudsters claiming to be financial advisors are soliciting deposits in unknown foreign banks by promising high deposit rates.
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.
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