Hong Kong

Enforcement

SFC Fines RHB Securities for Internal Control Failures

By Editors | 02/01/2020

RHB Securities failed to effectively implement its policy for avoiding conflicts of interest between its research reports and investment banking relationships, among other compliance issues.

Market Infrastructure

Risks to Hong Kong Outlook Tilted to Downside: IMF

By Editors | 02/01/2020

However, robust policy frameworks and ample buffers will help the Hong Kong economy weather the challenges ahead.

Enforcement

CLSA, CITIC Securities Censured for Breaching Share Buyback Rules

By Editors | 02/01/2020

CLSA and CITIC Securities carried out pre-arranged trades on the SEHK to allow Beijing Enterprises Holdings to buyback its shares without regulatory or shareholder approval.

Enforcement

SFC Fines Fidelity Unit for Unlicensed Futures Dealing

By Editors | 31/12/2019

FIL Investment Management executed over 6,700 futures trades for overseas affiliates without a Type 2 licence, and delayed reporting the breach to the SFC.

Capital / Liquidity

HKMA D-SIBs List Unchanged, HLA Requirement Adjusted for Two Banks

By Editors | 28/12/2019

Compared with the December 2018 list, the HLA requirement has increased for Standard Chartered and decreased for Hang Seng Bank.

Fintech / Regtech

HKMA Publishes Highlights from First AML/CFT RegTech Forum

By Manesh Samtani | 27/12/2019

Access to quality data and a more proactive knowledge sharing approach are critical to moving to intelligence-led methods in financial crime risk management.

Securities / Derivatives

HKEX to Shorten IPO Settlement to Single Day

By Editors | 25/12/2019

HKEX hopes to shorten Hong Kong’s five-day IPO settlement process to just one day by end-2020.

Fintech / Regtech

HKMA Publishes Report on AI Adoption by Hong Kong Banks

By Manesh Samtani | 24/12/2019

The lack of employees with AI expertise was cited by 70% of respondents as the top barrier to AI adoption, according to a survey.

Enforcement

SFC Fines Adamas Asset Management for Disclosure Failings

By Editors | 24/12/2019

The asset manager was fined HK$2.5mn for filing 339 incorrect or late notifiable interest disclosures to the SEHK and eight listed companies.