Hong Kong

Securities / Derivatives

CSRC to Allow Full Conversion of Non-tradeable Shares to H-Shares

By Editors | 19/11/2019

The move is seen as a way for state investors to exit some industries, and a way for some mainland companies to raise new funds and improve liquidity in their H-shares.

Enforcement

SFC Bans Former Deutsche Securities RO for Life

By Editors | 18/11/2019

For ban follows a February 2018 conviction, where the former responsible officer was sentenced to 45 months’ imprisonment and ordered to pay HK$6.4mn to Deutsche Bank AG in restitution.

Market Infrastructure

Exploring APAC’s Emerging Data-Intensive Regulatory Environment

By Swati Kothari | 15/11/2019

APAC’s data intensive regulatory environment is making it increasingly important for banks to adopt a strategic data framework, say Swati Kothari and Jackielou Imperial at Wolters Kluwer.

Enforcement

UBS to Pay HK$600m in Fines and Compensation for Overcharging Clients

By Editors | 12/11/2019

The SFC reprimanded and fined UBS for overcharging clients over a ten-year period, affecting 5,000 Hong Kong-managed client accounts in over 28,000 transactions.

Enforcement

Former HKTV Staff Member Jailed for Insider Dealing

By Editors | 09/11/2019

HKTV’s former senior regulatory affairs manager made over HK$160,000 in profit from trading on insider information in December 2013.

Enforcement

SFC Bans Former HSBC Relationship Manager for One Year

By Editors | 07/11/2019

The former relationship manager used incomplete application forms pre-signed by the client to effect unit trust transactions without specific authorisation.

Big Picture

Fintech Week: HKMA Announces New Fintech Initiatives

By Manesh Samtani | 07/11/2019

As part of an ecosystem approach to fintech development, HKMA chief Eddie Yue wants to work with FIs, end users and technology firms to drive innovation in financial services.

Market Infrastructure

China, Hong Kong to Establish Wealth Management Connect Scheme

By Editors | 07/11/2019

The scheme will enable residents of Hong Kong and other GBA cities to invest in wealth management products in each other’s market through their respective banking systems.

AML / KYC

SFC Unveils Regulatory Framework for Crypto Exchanges

By Manesh Samtani | 07/11/2019

Under the new framework, announced at Hong Kong Fintech Week, platform operators that offer trading in virtual assets classified as securities may seek Type 1 and Type 7 licences from the SFC.