HONG KONG

Former UOB Rep Banned Over $6.48mn Trading Loss

By Samuel Riding | 03/11/2016

Former representative said to have breached Code of Conduct; banned for 10 years.

AML / KYC

HK FIs Exclude Up to 25% of Potential Customers Due to Compliance

By Samuel Riding | 02/11/2016

Lexis Nexis survey suggests KYC data sharing could help institutions’ meet financial inclusion goals.

AML / KYC

Hong Kong Suspicious Transaction Reports Surge

By Samuel Riding | 02/11/2016

Joint Financial Intelligence Unit received nearly 60,000 reports in 1st nine months of 2016.

Standard Chartered Involved in HK IPO Probe

By Samuel Riding | 02/11/2016

Bank warns of ‘financial consequences’ if regulator takes action.

Securities / Derivatives

HKMA Revamps OTC Reporting Interface

By Samuel Riding | 01/11/2016

Changes include modified data fields, description, and enumerated values for mandatory reporting.

HK Regulator Revokes Asset Management Licences

By Samuel Riding | 01/11/2016

Company owner’s licence is revoked; banned for 10 years for abuse of clients’ trust.

Market Infrastructure

HK SFC Probes UBS on IPO Sponsorships

By Samuel Riding | 31/10/2016

Swiss bank could face fines or temporary suspension of advisory services.

Capital / Liquidity

Hong Kong to Launch E-Alerts for Unauthorised Mortgages

By Samuel Riding | 27/10/2016

AIs are expected to participate in the service unless they have ‘equally effective’ arrangements.

AML / KYC

HK SFC Amends Account Opening Rules

By Samuel Riding | 25/10/2016

Regulator says Code of Conduct requirements are at par with international standards, adds some measures.