Hong Kong

Securities / Derivatives

China Extends Income Tax Exemptions for Stock Connect Participants

By Editors | 05/12/2019

Mainland investors’ profits made through Stock Connect and the MRF scheme will be exempt from income tax until 31 December 2022.

Securities / Derivatives

Hong Kong SFC Waives Licensing Fees Amid ‘Challenging’ Environment

By Editors | 05/12/2019

The decision was made to relieve the regulatory cost burden on the securities and futures industry, taking into account the “current challenging market environment”.

ESG / Sustainability

Why the HKMA is Taking ESG Investing Seriously

By AsianInvestor | 26/11/2019

The head of risk for the de-facto central bank’s investment portfolio explains why it is implementing ESG principles into its investing practices.

Capital / Liquidity

Significant Variation Among Banks in HKFRS 9 Reporting – Study

By Manesh Samtani | 26/11/2019

Only some banks have been able to fully address the HKFRS 9 financial disclosure requirements, according to a new study from Mazars Hong Kong.

Securities / Derivatives

HKMA Warns FIs Against Churning Investment Funds for Clients

By Manesh Samtani | 25/11/2019

The HKMA has issued new guidance aimed at preventing, detecting and mitigating misconduct risks at financial institutions in the selling of investment funds.

AML / KYC

SSE, SZSE Propose Rules Changes to Implement Investor ID Regime

By Editors | 25/11/2019

Under the regime, brokers must assign a unique digital code that identifies each investor, who will be “deemed to agree” that their information may be transferred to the Hong Kong SFC and SEHK.

Hong Kong Hedge Funds Offered Incentives to Relocate to Tokyo

By Editors | 25/11/2019

A Japanese delegation was reportedly in Hong Kong last week to meet with dozens of fund managers to persuade them to relocate to Tokyo.

AML / KYC

We Need to Accelerate Regtech Transition in AML Work: HKMA

By Manesh Samtani | 23/11/2019

We need to enable a wider application of technology to AML work in the sector, deputy chief Arthur Yuen said at the HKMA’s its first AML/CFT RegTech Forum on Friday.

Enforcement

SFC Warns Against Concealing Identities of Transacting Counterparties

By Manesh Samtani | 22/11/2019

Listed entities should disclose counterparties’ controllers and beneficial owners in corporate transactions. Asset managers should maintain effective controls to detect dubious arrangements or transactions.