Hong Kong

Securities / Derivatives

HKEX to Expand Closing Auction Session to All Equities, Funds

By Editors | 08/07/2019

The expansion will help improve trading liquidity at close, simplifying operations of market participants, and standardise closing times for equities.

Enforcement

SFC Warns Against Misconduct Involving Acquisitions, Disposals

By Editors | 06/07/2019

Directors of listed companies have a duty to exercise due and reasonable care, skill and diligence when evaluating or approving the acquisition or disposal of a company or business.

Enforcement

Goldman Banker Tim Leissner Banned for Life in Hong Kong

By Editors | 04/07/2019

Leissner’s conduct in relation to the Malaysian state fund 1MDB called into question his fitness and properness to be a licensed person, the SFC said.

Enforcement

Hong Kong Hedge Fund Penalised by CFTC, CME

By Editors | 04/07/2019

Elephas Investment Management was found to have violated wheat futures speculative position limits established by the CFTC.

Enforcement

SFC Gains Access to Mainland Audit Papers for Investigations

By Editors | 04/07/2019

The MOF and CSRC agree to provide the “fullest assistance” in response to SFC requests for investigative assistance regarding the provision of audit working papers.

Market Infrastructure

Hong Kong ‘Greenness’ Assessment Framework for Banks by Year-End

By Manesh Samtani | 02/07/2019

The framework will comprise guiding principles and possible metrics for the greenness assessments, drawing from industry feedback and the HKMA’s participation in the NGFS.

Fintech / Regtech

BIS ‘Innovation Hub’ to Set Up in Hong Kong, Singapore

By Editors | 02/07/2019

The BIS Innovation Hub will foster collaboration between central banks and, by extension, help the private sector fully realise ‘new economy’ opportunities.

Capital / Liquidity

Amended Bank Liquidity Rules to Take Effect 1 Jan: HKMA

By Manesh Samtani | 01/07/2019

The amendments expand the scope of HQLA recognisable as “level 2B assets” under the LCR and introduce a 5% stable funding requirement on total derivative liabilities under the NSFR.

Securities / Derivatives

Hong Kong Finalises List of FSPs Under Clearing Obligation

By Editors | 01/07/2019

The list of Financial Services Providers identifies major dealers outside Hong Kong that are under the clearing obligation.