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Enforcement
SFC Permanently Bans Ex-HSBC Employee Over Bribery Convictions
By Editors | 02/03/2022
The former vice president accepted gifts as inducements to handle credit applications and maintain the credit facilities for two companies controlled by a client.
Securities / Derivatives
SFC, HKMA Launch Joint Review of Investment Product Selling Practices
By Editors | 02/03/2022
The review’s objectives are to assess intermediaries’ compliance with requirements to perform product due diligence, conduct suitability assessments and provide information to clients.
Enforcement
HK Court Offers Questionable Rationale in Insider Dealing Case
By Tom Fyfe | 01/03/2022
The court’s decision merely transfers illicit profits to a select group of individuals who were “lucky enough to have traded with the insider”, says Tom Fyfe.
Enforcement
HK ICAC Charges Bank Employee and Two Others for Bribery
By Editors | 28/02/2022
A relationship manager and two representatives of secretarial services companies allegedly offered and accepted bribes to help non-domestic clients open accounts with three Hong Kong banks.
AML / KYC
The SFC Approach to Virtual Assets Prioritises Investor Protection
By Manesh Samtani | 28/02/2022
Since 2018, the steps taken by the SFC to regulate the virtual asset space have prioritised investor protection, first and foremost.
Capital / Liquidity
CBIRC Incentivises HK Cat Bond Issuance by Mainland Insurers
By Editors | 27/02/2022
Preferential treatment in place since 2018 has been extended to mainland insurers that issue catastrophe bonds in the Hong Kong market.
ESG / Sustainability
HK FRC Establishes Sustainability & Climate Action Task Force
By Editors | 24/02/2022
The task force will provide high level recommendations on strategic actions the FRC should consider to promote sustainability reporting in Hong Kong.
Market Infrastructure
HK Budget Includes More Borrower Relief, Capital Market Reforms
By Manesh Samtani | 23/02/2022
Finance Secretary Paul Chan announced measures to further reform Hong Kong’s listing rules, promote the bond market, and introduce yuan share trading in the city.
Securities / Derivatives
SFC Confirms Plans to Regulate Fund Trustees, Custodians
By Manesh Samtani | 23/02/2022
A new regulated activity (RA 13) will be introduced which will subject trustees and custodians of public funds to licensing requirements and ongoing regulatory supervision.
Securities / Derivatives
Hang Seng Indexes Company Proposes to Create New China Index
By Editors | 22/02/2022
The proposed index would be comprised of HSCEI constituents as well as some A-shares, according to the consultation paper.
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