Hong Kong

Securities / Derivatives

HKMA Amends Requirements on Share Margin Financing

By Sanday Chongo Kabange | 25/10/2021

The HKMA says continued enforcement of the requirement to observe market norms in the setting of maximum LTV ratios is no longer appropriate.

AML / KYC

HKMA, SFC Issue FAQ on ‘Offence Related Property’ Under NSL

By Editors | 25/10/2021

FIs “must” disclose to the JFIU property held by persons charged for offences under the National Security Law regardless of the portion of shareholdings.

Fintech / Regtech

HKMA, PBOC Agree to Link Regulatory Sandbox Across Borders

By Mark Johnston | 22/10/2021

The arrangement will facilitate cross-border financial innovation in the Greater Bay Area and strengthen supervisory exchanges.

Enforcement

Appeals Tribunal Affirms SFC Punishment of Yi Shun Da Capital

By Sanday Chongo Kabange | 21/10/2021

The Appeals Tribunal upheld the SFC’s decision to punish Yi Shun Da Capital over sponsor failures but reduced the penalty amount.

Market Infrastructure

19 Hong Kong Banks Approved to Participate in Wealth Connect

By Manesh Samtani | 19/10/2021

Citibank, Hang Seng Bank, HSBC, ICBC, and Standard Chartered are among those that will participate in both the southbound and northbound schemes.

Securities / Derivatives

HKEX Launches First China A-Share Futures Contract

By Editors | 18/10/2021

The contract is based on the MSCI China A 50 Connect Index, which tracks the performance of 50 key Shanghai and Shenzhen stocks available via Stock Connect.

Enforcement

HK Court Jails Former Convoy, Gransing Executives

By Editors | 17/10/2021

Former Convoy executives conspired to dishonestly arrange for bond placement commissions to be diverted to a company they substantially owned.

Enforcement

Hong Kong Police Arrest 32 Over PLGS Loan Fraud

By Sanday Chongo Kabange | 13/10/2021

A syndicate with triad links allegedly use cold calls and posed as bank staff to lure victims into the illicit scheme promising government-guaranteed low-interest loans.

ESG / Sustainability

HK Regulators Offer Support for New Climate Action Plan

By Manesh Samtani | 13/10/2021

The Green and Sustainable Finance Cross-Agency Steering Group pledges support for the government’s Climate Action Plan 2050.