Hong Kong

Securities / Derivatives

HKEX to Lessen Profit Requirement Hike for Main Board IPOs

By Manesh Samtani | 05/05/2021

The three-year profit requirement will be raised from HK$50mn to HK$80mn, compared to the HK$125mn or HK$150mn options proposed in November.

Enforcement

HKMA Adjusts Scope of Mandatory Reference Checking Regime

By Manesh Samtani | 05/05/2021

The HKMA has adjusted the scope of the regime, shortened the record retention requirement, and lengthened the time allowed to respond to an MRC request.

ESG / Sustainability

HKMA Issues Guideline on Green & Sustainable Finance Grant Scheme

By Editors | 05/05/2021

The grant amount for each bond issue will be half of the eligible expenses, capped at HK$2.5mn for rated bonds and HK$1.25mn  for unrated bonds.

Enforcement

SFC Set to Deploy Data Analytics in Broker Inspections

By Manesh Samtani | 29/04/2021

High volume brokers were asked in 2019 to adopt new data standards to enable more timely data submissions to regulators when requested.

ESG / Sustainability

HK Green Banks Alliance Hosts First Roundtable

By Sanday Chongo Kabange | 29/04/2021

HKMA Chief Eddie Yue urged banks to transform into ‘green banks’. HSBC and BOCHK announced plans to expand their green finance business.

Capital / Liquidity

Hong Kong Launches 100% Personal Loan Guarantee Scheme

By Editors | 27/04/2021

The scheme provides a supplementary financing option for individuals suffering income loss resulting from the Covid-19 pandemic.

Market Infrastructure

HK, China to Launch Southbound Bond Connect in July – Report

By Sanday Chongo Kabange | 27/04/2021

The relevant regulations will reportedly be issued in May, with a view to launching the southbound bond trading link on 2 July.

AML / KYC

HKMA Offers Guidance on Combatting Covid-19 Related Fraud, AML

By Manesh Samtani | 26/04/2021

The guidance emphasises the use of data from internal and external sources, proactive data analysis and information sharing to tackle emerging AML risks.

AML / KYC

Hong Kong: Six Arrested for Laundering HK$2.5bn

By Sanday Chongo Kabange | 26/04/2021

The six arrested persons opened 60 personal accounts at various banks and made over 2,600 suspicious transactions.