HONG KONG

Capital / Liquidity

HK SFC to Remove Corporate Treasury of non-Financial Firms from OTC Regulation

By Samuel Riding | 21/12/2017

Extensive consultation also proposes to expand risk mitigation requirements to ‘all licensed corporations’, rejects idea of regulatory threshold.

Enforcement

HK SFC Releases 1st MiC Regime Guidance Bulletin

By Editors | 20/12/2017

Report warns on conflicts of interest in sales practices and asset management; notes asset management sector now has more than half of all intermediaries.

Capital / Liquidity

HK SFC Proposes Raising Capital Required by Fund Managers

By Editors | 19/12/2017

Consultation covers raising of minimum capital requirement to HKD10 million, introduction of derivatives use by public funds with enhanced safeguards.

Enforcement

Standard Chartered Brokerage Arm Hit With $330,000 Fine

By Editors | 19/12/2017

SFC investigation reveals internal control failures resulted in at least 61 regulatory breaches involving short selling, required liquid capital deficit of HKD2 billion.

Enforcement

2017 a Punishing Year for Naughty Traders in China

By Editors | 18/12/2017

China securities regulator has issued 206 administrative penalties in 2017, more than $1bn in fines; increasing cooperation with HK SFC.

AML / KYC

US Lifts Threat of Criminal Charges against HSBC

By Garima Chitkara | 14/12/2017

Bank released from deferred prosecution agreement after meeting its terms; outgoing CEO says AML to remain ‘a top priority’ in 2018.

Enforcement

Hong Kong Court Confirms Legality of SFC-CSRC Information Sharing

By Editors | 12/12/2017

Judge rejects legal challenge to transfer of documents seized by SFC during execution of a search warrant to the Chinese securities regulator.

Market Infrastructure

Hong Kong Rejects Japan-style Embrace of Cryptocurrencies

By Editors | 11/12/2017

Government official says Hong Kong will continue to regard cryptocurrencies as commodities, won’t legitimise through regulation.

AML / KYC

EU Blacklists S.Korea, Macau Tax Regimes; HK on ‘Greylist’

By Garima Chitkara | 07/12/2017

HK on ‘greylist’; Macau, S.Korea, on blacklist with the latter said to operate a ‘harmful preferential tax regime’ for the wealthy, companies.