Hong Kong

Securities / Derivatives

Hong Kong FRC Issues Guidance for Audit Committees

By Editors | 20/12/2021

The guidelines are intended to help audit committees adopt best practices in selecting auditors that will enhance the quality of corporate reporting.

Securities / Derivatives

HKEX Finalises Framework for SPAC Listings in Hong Kong

By Manesh Samtani | 20/12/2021

The new framework takes effect on 1 January. A SPAC’s securities must be distributed to at least 20 institutional professional investors, down from 30 proposed during consultation.

Market Infrastructure

HKMA Sets Targets for Launch of New Credit Reference Platform

By Manesh Samtani | 19/12/2021

The new platform will serve as an interface for credit providers and CRAs to share credit data, as Hong Kong prepares to introduce additional CRAs in the city.

ESG / Sustainability

HK Steering Group Announces Next Steps in Green Transition

By Editors | 18/12/2021

HKMA to develop new ECF module on Green and Sustainable Finance. Steering Group to explore local taxonomy and voluntary carbon market.

AML / KYC

SFC Fines Mason Securities for AML Breaches

By Editors | 17/12/2021

In deciding the disciplinary sanction, the SFC took into account the “extensive period of time” over which the failures occurred.

Market Infrastructure

HKMA, SFC Consult on Calculation Periods for OTC Derivatives Clearing

By Editors | 16/12/2021

The existing list of calculation periods will be exhausted in about one year’s time. The HKMA and SFC propose to add eight similar calculation periods to the clearing rules.

AML / KYC

Hong Kong, Singapore Authorities Arrest 10 in Joint Operation

By Manesh Samtani | 16/12/2021

Six senior executives of Hong Kong listed companies were among those arrested, for operating a cross-border pump-and-dump manipulation scheme.

HKMA Raises Concerns Over Outside Mandates of Bank Directors

By Manesh Samtani | 16/12/2021

Banks have to report all outside mandates held by each director and chief executive, and address any conflicts of interest and time commitment issues.

ESG / Sustainability

HK to Enhance Mainland Connection via Stock Connect, Carbon Market

By Sanday Chongo Kabange | 15/12/2021

The SFC is seeking to align Hong Kong’s trading days with the mainland, add more securities to Stock Connect, and establish a cross-border carbon market.