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AML / KYC
HK ICAC Arrests Nine in Corruption Probe Involving Macau Firm
By Editors | 30/11/2021
CPAs and audit staff are suspected of accepting bribes to compile a false accountants’ report that was submitted to HKEX for a main board listing.
Enforcement
Hong Kong SFC Investigates Ramp-and-Dump Scam
By Editors | 29/11/2021
Restriction notices have been sent to two brokerage firms prohibiting them from dealing in assets worth HK$312mn held across 17 trading accounts.
AML / KYC
SFC Issues Technical Guidance for New Reporting Regime
By Editors | 28/11/2021
A new paper introduces a pre-defined file format for OTCR submissions. Guidance on the new investor identification regime has also been released.
ESG / Sustainability
HKMA Offers Guidance on Regtech for Reporting, Stress Testing
By Manesh Samtani | 28/11/2021
The latest regtech adoption guide highlights challenges banks face as a result of their use of legacy systems and siloed data structures.
Enforcement
HK ICAC Charges Four for Concealing Backdoor Listing
By Editors | 28/11/2021
A retired lawmaker and his son concealed an agreement with a third party who agreed to pay them about HK$210mn for control of a listed stock.
Enforcement
Hong Kong FRC to Increase Public Disclosures on Investigations
By Editors | 28/11/2021
The Financial Reporting Council will increasingly disclose its investigations when cases involve high public interest.
GBA Wealth Connect Pilot Records ¥200m in Transactions
By Sanday Chongo Kabange | 24/11/2021
Net investment via Wealth Connect has exceeded CNY 200 million so far, with participation from around 11,500 retail investors.
HKMA Publishes Interim Report on Front Office Incentives Review
By Manesh Samtani | 24/11/2021
Frontline staff with more positive perceptions of customer and conduct outcomes had incentives that emphasised both financial and non-financial factors.
Securities / Derivatives
Hong Kong Issues First Euro Denominated Green Bonds
By Sanday Chongo Kabange | 22/11/2021
A 20-year tranche issued under the Green Bond Programme is the longest tenor euro-denominated bond issued by an Asian government to date.
HKMA Restricts Data Sharing for Direct Marketing Purposes
By Manesh Samtani | 22/11/2021
Banks may not share customers’ personal data with third parties including their own group companies for direct marketing purposes.
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