Hong Kong

Capital / Liquidity

HKMA Support Measures and the Impact to the Banking Industry

By Pierre Latrobe | 12/05/2020

Pierre Latrobe at Mazars discusses recent HKMA initiatives taken in response to Covid-19 and their implications for Hong Kong banks, highlighting credit risk as a growing threat.

Enforcement

Hong Kong: Investors Seek Compensation for Failed IPOs – Report

By Editors | 11/05/2020

The SFC has issued almost HK$1bn in penalties for IPO sponsor failures over 20 years. These proceeds have gone to the government, not investors.

Market Infrastructure

HKMA Proposes Mandatory Reference Checks to Stop Rolling Bad Apples

By Manesh Samtani | 08/05/2020

Under the scheme, prospective employees would be required to disclose employment records to recruiting AIs before a new employment relationship is established.

Securities / Derivatives

Charles Li to Step Down as HKEX Chief Executive Next Year

By Editors | 07/05/2020

Charles Li has been chief executive for over 10 years, and is credited with the launch of Stock Connect, Bond Connect, HKEX’s new listing regime and its dual class share system.

Securities / Derivatives

SFC Defers IM Rules, Maintains 1 September for VM Requirements

By Editors | 07/05/2020

While variation margin requirements will still take effect from 1 September 2020 as planned, initial margin requirements for non-centrally cleared OTC derivatives will be deferred by one year.

Enforcement

SFC Fines Mega International Commercial Bank Over Sales Practices

By Editors | 07/05/2020

Mega did not properly assess clients’ investment objectives, risk tolerance levels and knowledge of derivatives, or ensure the suitability of its fund recommendations for clients.

Hong Kong Set to Commence Fixed-rate Mortgage Pilot

By Editors | 06/05/2020

Under the six-month pilot scheme, participating banks will offer fixed-rate mortgage loans, capped at HK$10mn per loan transaction, and subject to a total aggregate cap of HK$1bn.

Market Infrastructure

HK Regulators Establish Green and Sustainable Finance Steering Group

By Editors | 05/05/2020

Initiated by the HKMA and SFC, the Steering Group will coordinate across other agencies and sectors to position Hong Kong as a global leader in green and sustainable finance.

Securities / Derivatives

HK Govt Under Fire for ‘False’ Justification of Broker Subsidies

By Manesh Samtani | 03/05/2020

Average daily market turnover jumped 54.5% in Q1 2020 compared to Q4 2019, which has led to a corresponding increase in brokerage revenues and profits.