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Enforcement
SFC, HK Police Make Arrest Four More in Ramp-and-dump Probe
By Editors | 23/04/2021
Three of the four are senior executives of a listed company. They are said to have embezzled over HKD 19 million of the listed company’s funds.
AML / KYC
SFC Imposes Lifetime Ban on Co-CEOs of IDS Forex Ltd
By Editors | 23/04/2021
The co-CEOs knew of their chairman’s arrest and conviction in Korea for fraud but did not report the events to the SFC.
Market Infrastructure
HKMA Directs Banks to Prepare for OpRisk Rule Updates
By Manesh Samtani | 22/04/2021
The HKMA plans to revise its SPM module on Operational Risk Management to incorporate elements of the revised PSMOR issued by the BCBS.
Capital / Liquidity
HKMA Issues Guidance on Govt Guaranteed Personal Loans
By Manesh Samtani | 20/04/2021
Lenders should not take any actions which tighten credit to borrowers on knowledge of their application for PLGS loans.
Enforcement
Former AIA Agent Convicted For Fraud Over Signing Fee
By Editors | 19/04/2021
The former representative submitted false income proof statements to deceive AIA into offering him a higher signing fee.
ESG / Sustainability
HK Bourse Proposes New Governance, ESG Reporting Standards
By Editors | 19/04/2021
The proposals enhance corporate governance standards in the areas of corporate culture, director independence, diversity, and ESG disclosures and standards.
National Security, Financial Stability are Mutually Dependent: HKMA
By Editors | 18/04/2021
Chief executive Eddie Yue said the HKMA is pursuing initiatives to enhance its use of technology to analyse financial data as part of its efforts in market supervision.
Securities / Derivatives
HKMA, SFC Consult on Annual Update to FSP List
By Editors | 15/04/2021
A unit of Toronto-Dominion Bank is proposed to be included on the FSP list. An entity that has merged with Deutsche Bank will be removed.
Enforcement
SFC Fines Optimas Capital Over Short Position Reporting Errors
By Editors | 15/04/2021
The errors occurred as a result of a programming mistake in a script created to automate the process of identifying reportable short positions.
AML / KYC
Hong Kong: Nine Arrested for Laundering HK$900 Million
By Editors | 15/04/2021
Part of the laundered funds came from 55 victims of investment frauds and romance scams, police say.
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