Hong Kong

Enforcement

ICAC Charges Former AIA Employees for Fraud

By Editors | 11/03/2021

A former district manager and former insurance agent jointly face three counts of fraud for allegedly deceiving AIA into paying them commissions for three insurance policies.

AML / KYC

HK: BNO Passports May Not be Used for Early MPF Withdrawal

By Editors | 11/03/2021

MPF scheme members cannot rely on a BN(O) passport or its associated visa as evidence in support of an application for early withdrawal of MPF.

AML / KYC

Travel Restrictions Holding Up Wealth Management Connect

By Manesh Samtani | 10/03/2021

PBOC official Bai Hexiang said the Wealth Management Connect scheme can be implemented once people can travel freely between Hong Kong, Macau and the mainland.

Market Infrastructure

HKMA Issues Guidance for Bond Connect FX Settlement Banks

By Editors | 09/03/2021

Hong Kong FX Settlement Banks should ensure that FX conversion and hedging transactions arise from “genuine and reasonable” Bond Connect investment needs.

AML / KYC

HK Bourse Offers Guidance on Compliance with BCAN Requirements

By Editors | 08/03/2021

Exchange participants are “strongly advised” to strengthen controls and take immediate action to rectify any breaches of BCAN requirements.

Enforcement

HK Police Arrest 12 Members of Ramp-And-Dump Syndicate

By Editors | 08/03/2021

The SFC has frozen securities accounts holding an estimated HK$860mn in ramp-and-dump proceeds, while the Police have seized an additional HK$89mn.

Market Infrastructure

HKEX Sets Launch Date for Phase Two VCM Enhancements

By Editors | 08/03/2021

The second phase enhancement will allow multiple triggers of the Volatility Control Mechanism per applicable security in the same trading session.

Capital / Liquidity

HKMA Extends Principal Payment Holiday Scheme Again

By Manesh Samtani | 05/03/2021

Principal payments of all loans of eligible corporate borrowers falling due between 1 May and 31 October 2021 should be deferred by a further six months.

Securities / Derivatives

SFC Greenlights Appointment of Nicolas Aguzin as HKEX CEO

By Editors | 03/03/2021

The SFC gave its approval for Aguzin’s appointment on Tuesday after vetting him against its fit and proper criteria.