HONG KONG

Securities / Derivatives

Hong Kong Allows Corporate Setup for Investment Funds

By JP Reimann | 18/05/2018

SFC’s new open-ended fund company (OFC) regime will allow investment funds to set up under corporate structures starting from 30 July 2018.

Market Infrastructure

Hong Kong SFC Releases Further Details on Licensing Regime

By Garima Chitkara | 17/05/2018

SFC bulletin highlights areas of concern the regulator considers in granting and rejecting licenses as well as updates to MIC regime; SFC also announced a forthcoming thematic review of MIC regime compliance.

Market Infrastructure

ASIFMA: HK Financial Secretary Lauds China as Global Standards Setter

By JP Reimann | 17/05/2018

James Lau said China is becoming a pioneer in setting global standards with an “open and supportive regulatory environment”; HK a “premier listing platform” for mainland enterprises.

Capital / Liquidity

Fitch Downgrades HK Banks due to China Exposure

By Garima Chitkara | 16/05/2018

Fitch Ratings cut its assessment of Hong Kong banks’ operating environment from A+/negative to A/stable because of growing influence of Chinese economy on the industry.

Capital / Liquidity

SFC Fund Manager Code of Conduct – What You Need to Know

By Derek McGibney | 16/05/2018

The ten key points you need to know about the SFC’s consultation conclusions on changes to the Fund Manager Code of Conduct, due to be implemented in six months’ time.

Securities / Derivatives

HKMA Reveals Details of Pilot Bond Grant Scheme

By Garima Chitkara | 14/05/2018

Eligible bond issuers can apply for a grant equivalent to half of eligible issuance expenses, including for debt origination and structuring, legal, audit, sales and distribution, up to HKD2.5mn.

Enforcement

SFC Signs Enhanced MoU on Cross Border Enforcement Cooperation

By JP Reimann | 13/05/2018

Enhanced IOSCO framework enables securities regulators to obtain and share audit working papers, telephone, internet records; compel attendance at interviews; provide guidance on freezing of assets.

AML / KYC

Hong Kong-based Regulatory Alliance Eyes Better Fintech Supervision

By Garima Chitkara | 10/05/2018

Asian regulators, former central bankers and government officials establish information exchange alliance to better regulate fintech, digital payments and cryptocurrency developments in the region.

Capital / Liquidity

Hong Kong Issues Guidelines on Technology Use in Personal Lending

By Garima Chitkara | 10/05/2018

Banks now allowed to use big data technology and consumer behavioural analytics to assess credit risks for personal lending portfolios.