Hong Kong

Securities / Derivatives

HKMA, SFC Direct Intermediaries to Improve Client Trade Practices

By Editors | 30/10/2021

Intermediaries have been required to undertake remedial action to address non-compliance with transaction-related disclosure requirements.

Securities / Derivatives

SFC Finalises Changes to Code on Pooled Retirement Funds

By Editors | 29/10/2021

The amendments include enhanced requirements for PRF operators including product providers, trustees, management companies and insurance companies.

HK Passes Legislation to Expand FRC’s Regulatory Functions

By Sanday Chongo Kabange | 28/10/2021

The FRC will become a full-fledged independent regulatory body for the accounting profession, performing inspections, investigations and disciplinary work.

Enforcement

SFC Bans Former StanChart Licensee for Life

By Editors | 28/10/2021

The former licensee failed to disclose to the SFC in licensing applications that he was the subject of a criminal investigation.

ESG / Sustainability

A Look at the SFC’s Climate Risk Requirements for Fund Managers

By Michael P Wong | 27/10/2021

The new requirements will have a significant impact on in-scope fund managers, and not just those that follow ‘sustainable’ or ‘ESG’ strategies, says Dechert partner Michael Wong.

HK to Maintain Covid Restrictions Despite Plea from FIs – Report

By Editors | 27/10/2021

A government spokesperson reportedly said the city continue to strive to reach ‘zero infection’ and the top priority remains reopening travel to the mainland.

Fintech / Regtech

HKMA to Bolster Regtech Talent Through New Skills Framework

By Manesh Samtani | 25/10/2021

The HKMA will launch a new ECF on Fintech by year-end. It will incorporate a set of competency standards and training curriculum that apply to regtech practitioners.

ESG / Sustainability

HK Financial Sector Calls for Easing of Covid Restrictions

By Sanday Chongo Kabange | 25/10/2021

Nearly half of surveyed FIs are considering moving staff or functions away from Hong Kong due to operational challenges, including travel and quarantine uncertainty.

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.