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Securities / Derivatives
HKEX Goes Live with New Market Access Platform
By Editors | 28/09/2021
The new central gateway offers “improved performance and reduced latency” compared with the vendor-supplied platform it replaces, HKEX said.
AML / KYC
HKMA Identifies AML/CFT Gaps in Stored Value Facilities
By Sanday Chongo Kabange | 27/09/2021
The HKMA flagged issues related to risk assessments, business partner arrangements, customer risk assessments, and transaction monitoring.
Capital / Liquidity
Hong Kong Further Extends Three Loan Support Schemes
By Editors | 21/09/2021
The 100% Personal Loan Guarantee Scheme, SME Financing Guarantee Scheme, and Pre-approved Principal Payment Holiday Scheme are being extended.
Enforcement
HK Court Convicts Former Convoy Executives for Fraud
By Editors | 21/09/2021
Former Convoy executives conspired to dishonestly arrange for bond placement commissions to be diverted to a company they substantially owned.
Market Infrastructure
HKMA Names Market Makers for Southbound Bond Connect
By Editors | 18/09/2021
The designated market makers were selected based on several criteria, including their Hong Kong bond market activities and their counterparty networks with Mainland FIs.
Securities / Derivatives
HKEX Issues Consultation on Listing Regime for SPACs
By Manesh Samtani | 17/09/2021
A SPAC has to raise at least HKD 1 billion from its initial offering. Subscription and trading will be restricted to professional investors.
China Regulators Dispatch Lawyers, Advisers to Assess Evergrande
By Sanday Chongo Kabange | 17/09/2021
Chinese authorities may be preparing for a major restructuring of Evergrande’s debt, as protesting investors demand repayment on overdue wealth management products.
AML / KYC
SFC Finalises AML Guidelines for Securities Sector
By Manesh Samtani | 15/09/2021
The guidelines will take effect on 30 September, except for the new cross-border correspondent relationships requirements, which take effect six months later.
HKMA Finds Gaps in How Banks Sell Tax Deductible Products
By Sanday Chongo Kabange | 15/09/2021
Some banks did not ensure the products were suitable, or did not explain product features and risks to customers.
Enforcement
Hong Kong ICAC Files Criminal Charges Against Former AXA Agents
By Editors | 15/09/2021
Three ex-insurance agents allegedly conspired to defraud AXA of HK$1.2mn in commissions and bonuses, and to launder over HK$2.7mn in crime proceeds.
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