HONG KONG

Securities / Derivatives

SFC Raises Standards for Client Facilitation Trades

By Editors | 17/02/2018

Client facilitation traders must be segregated from agency traders to protect client information and avoid conflicts of interest.

Enforcement

Interactive Brokers HK Fined for Trading System Failures

By Editors | 15/02/2018

The firm’s electronic trading system repeatedly submitted orders without regard for market liquidity and without effective price and volume controls.

Fintech / Regtech

HKMA Virtual Bank Rules – Dull, Timid Bureaucracy

By Peter Guy | 12/02/2018

Proposed virtual banks rules fail to address the true future of financial services, risking Hong Kong’s descent into irrelevancy.

Enforcement

Credit Suisse Hong Kong Fined $5mn

By Editors | 10/02/2018

Regulatory breaches include failures related to segregation of client securities, reporting of transaction, noncompliance with short selling requirements, unsuitability of investment products sold to clients.

Market Infrastructure

SFC Highlights Areas of Concern on Best Execution

By Bradley Maclean | 08/02/2018

Hong Kong SFC’s recent report on licensed corporations attitudes towards best execution practices shows there is much to be desired.

AML / KYC

Hong Kong Includes Non-Financial Entities in AML/CTF Amendments

By Garima Chitkara | 08/02/2018

Hong Kong AML/CTF rules will apply to financial transactions by non-financial entities; SFC requires licensees to screen client lists.

Capital / Liquidity

HK Gives Banking Disruptors a Chance, for $38mn

By Samuel Riding | 07/02/2018

Deputy chief of Monetary Authority also says banks cannot use ‘predatory tactics’ when competing for market share.

Capital / Liquidity

Hong Kong Amends Banking Rules on Recovery Planning, Large Exposure Limits

By Garima Chitkara | 06/02/2018

New rules will bring Hong Kong bank regulatory regime in line with international standards.

Fintech / Regtech

Cryptocurrency – You Can’t Kill an Idea

By Peter Guy | 05/02/2018

Once in a while capitalism must be rescued from the excesses of bankers and central banks. Governments can’t kill ideas, but it takes them a long time for them to concede or adapt.