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Enforcement
HK Court Acquits Former HKEX Official in Bribery Case
By Editors | 06/12/2021
The court ruled that the prosecution did not prove that IPO consultant Richard Lum had bribed the former joint-head of HKEX’s IPO vetting team, Eugene Yeoh.
Fintech / Regtech
HKMA Launches Enhanced Competency Framework on Fintech
By Editors | 06/12/2021
Banks are “strongly encouraged” to adopt the ECF-Fintech as part of their overall efforts to support the professional development of employees.
Enforcement
Hong Kong FRC Launches New Whistleblowing Policy
By Editors | 05/12/2021
Protecting whistleblowers’ identities will be the FRC’s highest priority. It will not share any personal information to outside parties unless it is “legally obliged to do so”.
ESG / Sustainability
HKEX Launches Net Zero Guide, ESG Metrics on STAGE
By Editors | 05/12/2021
The Net Zero Guide will help companies develop a pathway to net-zero. A new equities section on STAGE will provide a consolidated view of ESG ratings from different providers.
Enforcement
SFC Bans Former Private Banker Over False Academic Qualifications
By Editors | 01/12/2021
The SFC considers the former relationship manager to not be fit and proper as her conduct was “plainly dishonest”.
ESG / Sustainability
Hong Kong SFC Targets Adoption of Global ESG Standards
By Manesh Samtani | 01/12/2021
Chairman Tim Lui says the SFC is currently evaluating ESG disclosures “much more closely” and looking for more ways to reduce opportunities for greenwashing.
Market Infrastructure
Wealth Connect to be Refined, Expanded Over Time: HKMA
By Mark Johnston | 01/12/2021
Account opening by attestation is expected to be piloted for the WMC’s Northbound scheme, allowing Hong Kong investors to participate without having to travel.
Market Infrastructure
HKEX Issues Update on FINI Operational Arrangements
By Manesh Samtani | 01/12/2021
HKEX provides key operational arrangement updates for FINI in a new information pack, including the onboarding requirements for market participants.
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.
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