Hong Kong

AML / KYC

SFC Bans Former Guosen Head of Dealing for 12 months

By Editors | 23/06/2020

The head of dealing “turned a blind eye” to internal control deficiencies in relation to third party deposits brought to her attention by its staff since 2013.

Securities / Derivatives

‘Time is Ripe’ for Hong Kong to Launch A-share Derivatives: CSRC

By Manesh Samtani | 23/06/2020

CSRC vice chairman Fang Xinghai says the launch of A-share based financial derivatives will bolster Hong Kong as an international financial centre, while also benefitting China’s capital markets.

AML / KYC

SFC Fines Guotai Junan Securities for AML and Other Breaches

By Editors | 22/06/2020

Guotai Junan Securities was fined for regulatory breaches in connection with AML, third party fund transfers, placing activities, and wash trade detection and reporting.

Enforcement

SFC Publicly Criticises CICC Units for Breaching Takeovers Code

By Editors | 19/06/2020

CICC and CICC Financial Trading – as associates of the CICC securities unit advising on certain offers – dealt in the relevant securities without making timely disclosures.

ESG / Sustainability

HKMA Publishes Banking Sector Talent Gap Findings

By Editors | 18/06/2020

Key skill gaps in the banking workforce were identified in areas relating to technology and data, cybersecurity, core banking knowledge, regulation and compliance, and climate risk management.

Market Infrastructure

HKEX to Launch Sustainable Finance Information Platform, ‘STAGE’

By Manesh Samtani | 18/06/2020

Initially, ‘STAGE’ will host information on the 44 green bonds and two ESG-related ETFs listed in Hong Kong. Over time, it could expand to include equities, overseas products, and derivatives.

Market Infrastructure

Leveraging Technology and Hong Kong’s Unique Position to Manage Risk

By John Killian | 18/06/2020

Hong Kong markets have continued to operate resiliently, due in large part to the emphasis HKEX places on risk management, says Group Risk Officer John Killian.

Market Infrastructure

HKEX’s OTC Clear Introduces Client Clearing Services

By Editors | 15/06/2020

Market participants who are not themselves clearing members of OTC Clear can gain access to the benefits of central clearing through existing clearing members.

AML / KYC

Two Singaporeans Charged for Cheating Eight Banks

By Editors | 15/06/2020

Two former employees of a crude oil products supplier allegedly created fictitious sales contracts and invoices to obtain $340mn in financing from eight banks.