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Enforcement
Deutsche Fined, Censured for HK Regulatory Breaches
By Samuel Riding | 15/03/2018
Securities regulator says fine would have been much higher were it not for self-reporting of breaches, cooperation in inquiry and ‘remedial measures’.
Enforcement
CLSA Fined $1.15mn for Internal Control Failures – SFC
By Manesh Samtani | 15/03/2018
The firm failed to put in place controls to prevent co-mingling of agency execution and client facilitation services.
Capital / Liquidity
Hong Kong at High Risk of Debt-driven Crisis – BIS
By Samuel Riding | 14/03/2018
Report shows Hong Kong has biggest credit-GDP gap and the highest debt service ratio among 9 APAC economies.
Capital / Liquidity
Basel Committee Publishes Follow-up Reports on Basel III Implementation
By Manesh Samtani | 13/03/2018
The Committee also published an assessment handbook and self-assessment questionnaire to help member jurisdictions prepare for future RCAP assessments.
Enforcement
UPDATED – SFC Hits UBS with Fine, IPO Underwriting Suspension
By Manesh Samtani | 12/03/2018
The bank was fined $15.2mn and intends to appeal its 18-month suspension from IPO underwriting; possible disciplinary action on eight other firms.
Capital / Liquidity
FSB Publishes Hong Kong Peer Review
By Manesh Samtani | 03/03/2018
Completion of reform implementation and greater transparency needed for OTC derivatives market; resolution framework can be improved.
AML / KYC
Why Hong Kong’s New Trust Rules Won’t Boost AML/CTF Efforts
By Bradley Maclean | 01/03/2018
Rather than comply with new rules on beneficial owner registration and due diligence, many trusts are likely to simply leave Hong Kong for less onerous jurisdictions.
Fintech / Regtech
Hong Kong’s Fintech Sandbox Risks Alienating Innovators
By Manesh Samtani | 28/02/2018
HKMA financial technology sandbox needs to evolve to maximise value for all concerned, a new study suggests.
Enforcement
Hong Kong SFC to Focus on Corporate Fraud in 2018
By Editors | 27/02/2018
SFC’s recent newsletter on enforcement priorities details concern on false financial statements, IPO fraud and other sponsor failures.
Enforcement
HK SFC Sees Surge in Criminal Prosecutions
By Samuel Riding | 25/02/2018
Criminal charges laid by securities regulator nearly tripled in last nine months of 2018, although investigations started and concluded declined.
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