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Securities / Derivatives
Chinese Policymakers Pledge Measures to Reassure Markets
By Darien Choong | 19/03/2022
Vice-Premier Liu He said that the FSDC will propose “strong and effective responsive initiatives” to manage any risks which may endanger the financial system.
Enforcement
HKEX Censures Six Directors Over “Unchecked Spending Spree”
By Sanday Chongo Kabange | 19/03/2022
The investment holding company spent over HK$60mn of company money to acquire luxury assets including a HK$24.5mn yacht, a HK$20mn diamond, seven cars, and 57 paintings.
Securities / Derivatives
Hong Kong’s First SPAC Listing Debuts on HKEX Main Board
By Sanday Chongo Kabange | 18/03/2022
Aquila Acquisition Corporation was the first SPAC in Hong Kong to win approval from HKEX for a listing since the city’s SPAC listing regime was introduced.
Market Infrastructure
SFC Seeks to Allow Broker Participation in GBA Wealth Connect
By Sanday Chongo Kabange | 18/03/2022
A hurdle that still needs to be overcome is that Hong Kong brokerages are currently prohibited from distribution and soliciting clients in mainland China.
AML / KYC
SFC Fines Emperor Securities, Emperor Futures for AML Breaches
By Editors | 17/03/2022
Emperor processed third party fund transfers without validating the relationships between the clients and the third parties, or the reason for the transfers.
ESG / Sustainability
HKEX Listing Committee Outlines Policy Agenda for 2022
By Sanday Chongo Kabange | 16/03/2022
HKEX will review the IPO eligibility requirements for technology firms, optimise the IPO price discovery process, and enhance ESG standards and climate disclosures.
Fintech / Regtech
Hong Kong IA Relaxes Rules on Online Sale of Insurance
By Editors | 15/03/2022
ILAS (investment-linked assurance schemes) can now also be distributed using non-FTF methods, with a fast track authorisation process.
Securities / Derivatives
Mainland Investment Banks Barred from Sponsoring HK SPACs
By Editors | 14/03/2022
Mainland investment banks cannot act as SPAC promoters in Hong Kong, but commercial bank-affiliated institutions can.
Market Infrastructure
HKEX to Launch Derivatives Holiday Trading on 9 May
By Editors | 11/03/2022
The first suite of products to be added to Derivatives Holiday Trading will be all MSCI futures and options contracts.
Hong Kong FRC Consults on New Regulatory Powers
By Sanday Chongo Kabange | 10/03/2022
The FRC will extend the scope of its oversight to all practicing auditors and accountants, instead of just those servicing listed companies.
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