HONG KONG

AML / KYC

HK SFC Issues Management Accountability Rules

By Samuel Riding | 19/12/2016

Proposals cover eight main functions including compliance and AML/CTF.

Securities / Derivatives

SFC Revokes Securities Firm License for ‘Egregious Conduct’

By Samuel Riding | 16/12/2016

Officers banned from the industry for using client money for personal use.

HKMA Issues Governance Guidelines

By Samuel Riding | 15/12/2016

Systemically important institutions should set up risk, nomination and remuneration committees.

AML / KYC

HKMA Issues AML/CTF Competency Framework

By Samuel Riding | 14/12/2016

Enrolment in courses run by Hong Kong Institute of Bankers begins in April 2017.

Securities / Derivatives

Hong Kong SFC Cites Algo Trading Risk Mitigation Weaknesses

By Samuel Riding | 13/12/2016

Findings include insufficient management and control personnel involvement in governance.

20 ‘HK DBS Staff’ Arrested in Data Leak Investigation

By Samuel Riding | 12/12/2016

Staff alleged to have bribed managers to obtain customer data and sell high-interest loans.

AML / KYC

HK SFC Fined Firms $3.33mn in 1H16

By Samuel Riding | 09/12/2016

Disciplinary actions up 67%; civil proceedings rise 23%; completed investigations increase by 24%.

Market Infrastructure

HK, UK Sign Fintech Agreement

By Samuel Riding | 07/12/2016

Regulators will collaborate on ‘experience sharing’, information exchange.

Market Infrastructure

HK, Switzerland Agree Mutual Recognition of Funds

By Samuel Riding | 04/12/2016

Agreement to allow cross-border sales includes rules on equal treatment of investors.