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Enforcement
SFC Suspends GEO Securities Executive for 7.2 Months
By Sanday Chongo Kabange | 11/06/2021
GEO’s breaches were attributable to Lun Sheung Nim’s failure to discharge his duties as a responsible officer and member of the senior management.
Capital / Liquidity
IMF Reaffirms Hong Kong Stability, Identifies Pockets of Risk
By Manesh Samtani | 10/06/2021
The IMF recommends enhancing monitoring of lending to Mainland China, increasing oversight over banking groups, and regulating mortgage lending by non-banks.
Fintech / Regtech
HKMA Announces New Fintech Development Strategy
By Editors | 09/06/2021
The “Fintech 2025” strategy seeks the comprehensive adoption of technology in the financial sector by 2025 through a focus on five key areas.
Securities / Derivatives
HKEX, FRC to Strengthen Collaboration on Financial Reporting Quality
By Editors | 09/06/2021
A new MOU establishes a collaborative framework which will ultimately provide better investor protection through high quality financial reporting.
ESG / Sustainability
SFC Raises Supervisory Focus on Fund Manager Resilience
By Manesh Samtani | 08/06/2021
The SFC is on the lookout for funds with outsized and concentrated bets to prevent an Archegos-type event in Hong Kong.
Enforcement
Hong Kong: Appeals Tribunal Overturns Ban Against UBS Banker
By Editors | 07/06/2021
The SFAT concluded that the former UBS banker cannot be held personally responsible for the failings of the China Metal Recycling transaction team.
AML / KYC
HK Customs Arrests Two for Laundering $5.6 Million
By Editors | 06/06/2021
Two people were arrested for using personal bank accounts to receive payments from the sale of counterfeit goods and launder money.
AML / KYC
Hong Kong’s Proposed Licensing Regime for VASPs
By Michael P Wong | 06/06/2021
Dechert partner Michael Wong looks at the potential impact of Hong Kong’s newly proposed licensing regime for virtual asset service providers.
AML / KYC
HKIFA Warns Against Concealing Company Director Information
By Editors | 04/06/2021
The government proposal to stop requiring companies to reveal certain information about directors will hinder fund managers’ ability to conduct due diligence.
Capital / Liquidity
HKMA Issues Guidance on Counterparty Credit Risk Framework
By Editors | 03/06/2021
The guidance is aimed at facilitating consistent interpretation and application of the capital requirements under the BCR as amended in April.
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