HONG KONG

Capital / Liquidity

Asia to Miss Key 2018, 2019 Basel III Deadlines – BIS report

By Garima Chitkara | 26/04/2018

Most Asian jurisdictions are behind on implementing counterparty credit risk measures, capital for CCP exposures as well as TLAC, IRRBB and LEX requirements.

Securities / Derivatives

China Launches Pilot to Enable Trading of Restricted H-Shares

By Manesh Samtani | 24/04/2018

Founding and controller shareholders of HK-listed Chinese companies will be able to convert non-tradable stock into ordinary H-shares, starting with Legend Holdings.

Securities / Derivatives

HKEX Launches After Hours Market for Index Options

By Editors | 20/04/2018

HSI, HSCEI and Mini HSI will be tradeable between 5:15pm and 1:00am, with a trading halt mechanism in place to avoid extreme price movements.

Fintech / Regtech

Hong Kong Work Plan Includes Incentives for Fund Industry

By Manesh Samtani | 20/04/2018

Government reviewing and enhancing existing tax concession arrangements for fund industry; HKMA to launch real-time payments, issue virtual bank licences this year.

Fintech / Regtech

HKEX Fights Market Abuse with AI, Machine Learning Tech

By JP Reimann | 19/04/2018

NASDAQ technology aims to better safeguard market integrity, detect unusual trading and market abuse, and provide immediate review of group activity involving coordinated trades.

Market Infrastructure

HK, Japan to Connect Settlement Systems

By JP Reimann | 19/04/2018

BOJ-NET link with HKD CHATS will effectively eliminate the need for the US dollar as an intermediate currency in cross-border transactions.

Fintech / Regtech

HK Brokers Rush to Comply with SFC Cybersecurity Rules

By JP Reimann | 18/04/2018

Several online brokers had been hoping for a delay, tech advisory firm suggests some are ‘willing to trade a little security for convenience’.

AML / KYC

HK Banks Introducing Biometrics Expected to Comply With IT Upgrade Guidelines

By JP Reimann | 17/04/2018

Secretary for Financial Services and the Treasury expects banks to comply with requirements of HKMA personal data privacy ordinance.

Enforcement

SFC Reprimands, Fines Nomura’s Instinet $2.2mn

By Editors | 16/04/2018

The firm failed to put in place reasonable controls to ensure non-proprietary orders received execution priority, prevent erroneous and disorderly orders being sent to the market.