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Enforcement
HKEX Finalises Rule Changes to Enhance Market Quality
By Manesh Samtani | 21/05/2021
HKEX will increase the profit requirement to HKD 80 million in combined profits over the three years. Proposals to enhance its disciplinary powers and sanctions will also be adopted.
Enforcement
SFC to Investigate, Punish Misconduct in ‘Problematic’ IPOs
By Manesh Samtani | 20/05/2021
In a joint statement with the stock exchange, the SFC says it will not hesitate to take enforcement action against intermediaries for IPO-related misconduct.
Market Infrastructure
HKMA Instructs Banks to Assess Need for Tertiary Data Backup
By Manesh Samtani | 18/05/2021
Banks are asked to critically assess the need to set up a secure tertiary data backup to guard against destructive cyber attacks.
AML / KYC
Former Manager of Sun Life HK Charged for Money Laundering
By Editors | 18/05/2021
The ICAC alleges that the former senior unit manager of Sun Life Hong Kong dealt with crime proceeds totalling over HKD 640,000.
Market Infrastructure
China & HK Agree Cross-border Insolvency Framework
By Manesh Samtani | 18/05/2021
Hong Kong courts and Chinese courts in pilot cities will be able to recognise insolvency, bankruptcy and restructuring proceedings under each other’s laws.
Market Infrastructure
HKEX Clears First SOFR-HONIA Cross Currency Swaps
By Editors | 18/05/2021
OTC Clear announced last week that it was launching clearing services for cross-currency interest rates swaps and basis swaps referencing HONIA and SOFR.
Market Infrastructure
Is Asia Ready for the End of LIBOR?
By Li Renn Tsai | 17/05/2021
Li Renn Tsai compares progress in Asia’s main trading hubs, warning of a logjam of transition-related operational work that will pile up towards year-end.
Fintech / Regtech
HKMA, PBOC In Talks on Next Phase of Digital Yuan Tests
By Sanday Chongo Kabange | 15/05/2021
The next phase of technical testing will explore the feasibility of using the digital yuan in cross-border payments.
Enforcement
Hong Kong: Six Current & Former Directors Fined Over Inside Information
By Editors | 14/05/2021
Timely disclosure of inside information is central to the orderly operation of the market and underpins a fair and informed market, the SFC said.
Fintech / Regtech
HKMA Sets Out Next Steps to Implement Open API Framework
By Manesh Samtani | 13/05/2021
Phase 3 and 4 API functions will be implemented progressively by 28 participating banks starting from December 2021, the HKMA says.
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