ADVERTISEMENT
Market Infrastructure
SFC Highlights Liquidity Risk Management Deficiencies at Funds
By Editors | 24/08/2019
The SFC asks fund managers to review their current policies, procedures, systems and processes and take immediate action to rectify any inadequacies or deficiencies.
Enforcement
HK Court Orders Confiscation of HK$1.46m from Former UBS Exec
By Editors | 21/08/2019
The case relates to the 2017 conviction of a former UBS associate director for accepting over HK$1.4mn in bribes from a Shenzhen-based client.
Enforcement
SFC, ICAC Formalise Cooperation Arrangement with MoU
By Editors | 20/08/2019
The MoU covers case referrals, joint investigations, the exchange and use of information, mutual provision of investigative assistance, and capacity building.
Capital / Liquidity
HKMA Adjusts Initial Margin Implementation Schedule
By Editors | 19/08/2019
The HKMA has adjusted its implementation schedule for the incoming requirements, taking into account the one-year phased extension announced by BCBS and IOSCO in July.
Securities / Derivatives
HKEX Proposes Changes to Pre-Open Session, Volatility Controls
By Editors | 19/08/2019
The proposals aim to improve market liquidity and global competitiveness of the Hong Kong market, HKEX says in a new consultation paper.
Enforcement
Hong Kong Banks Under Scrutiny for Chinese Lending – Report
By Manesh Samtani | 16/08/2019
The HKMA has reportedly been investigating several Hong Kong lenders for financing large scale overseas asset purchases by Chinese conglomerates.
Enforcement
SFC Fines Sincere Securities for Internal Control Failings
By Editors | 16/08/2019
The SFC and an independent reviewer identified deficiencies across 14 areas of Sincere Securities’ business operations and internal controls, resulting in a fine of HK$5mn.
Enforcement
CSRC Imposes Six-Month Business Restriction on GF Securities
By Editors | 09/08/2019
The CSRC cited risk management and control deficiencies as reasons for the restrictions, after a hedge fund set up by the broker reported losses of $139mn for 2018.
Market Infrastructure
Cayman ‘Economic Substance’ Rule Hits Hong Kong Hedge Funds
By Editors | 06/08/2019
The new rule requires investment managers to demonstrate ‘economic substance’ in Cayman to continue operating by setting up offices, moving teams over or outsourcing activities to local firms.
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.
JOIN OUR NEWSLETTER
A daily selection of top stories from the Regulation Asia editorial team