Hong Kong

Enforcement

SFC Imposes Lifetime Ban on Former UBS Adviser

By Editors | 06/08/2019

More than 10 years ago, the adviser accepted HK$1.4m in bribes from a client, paid at a rate of 20% of portfolio gains.

Securities / Derivatives

SSE, SZSE Set to Allow Trading in HK-Listed Dual Class Shares

By Editors | 05/08/2019

The Shanghai and Shenzhen stock exchanges are consulting on rule changes that will allow Chinese investors to trade Hong Kong-listed dual-class shares via Stock Connect.

Big Picture

Singapore: Two-Thirds of Consumers Willing to Try Digital Banks

By Editors | 03/08/2019

A JD Power survey has found that 65% of Singapore customers are interested in opening digital bank accounts. The survey ranked HSBC first, OCBC second and DBS third in customer satisfaction.

Market Infrastructure

HKIFA Announces New Roadmap Pushing ESG Agenda

By Manesh Samtani | 02/08/2019

The HKIFA is advocating for fund documents to only be delivered to investors digitally by default, increased use of cloud for record keeping, and greater alignment with international standards.

Market Infrastructure

HKMA Reports on Open API Implementation Progress

By Editors | 01/08/2019

Phase I Open APIs provide information on banking products and services. Phase II will allow banks to process applications for such products and services by end-October.

Securities / Derivatives

SFC Raises Standards for Data Submissions by Brokers

By Manesh Samtani | 01/08/2019

In-scope brokers are expected to implement system changes and make other arrangements needed for compliance with the new Data Standards by end-October 2020.

Market Infrastructure

ISDA Unveils Preliminary Results of 2nd IBOR Fallbacks Consultation

By Manesh Samtani | 31/07/2019

For USD LIBOR, HIBOR and CDOR fallbacks, respondents prefer ‘compounded setting in arrears’ for the adjusted RFR and the ‘historical mean/median approach’ for spread adjustments.

Securities / Derivatives

Twenty Suspended Firms Face Permanent Delisting in Hong Kong

By Editors | 30/07/2019

Of the 22 firms that were already suspended last August when new rules took effect, only two have so far been given the green light for their shares to resume trading.

Securities / Derivatives

SSE Star Market Stocks to Be Included in Stock Connect

By Editors | 28/07/2019

A shares listed on the SSE Star Market will be eligible for northbound trading once relevant business and technical preparations are completed.