Hong Kong

Market Infrastructure

Hong Kong Issues LEI, Platform Trading Consultation for OTC Derivatives

By Samuel Riding | 29/03/2018

Paper says adopting LEIs should be mandatory for most market participants within six months of consultation conclusions being published.

Enforcement

IPO Sponsors Still Deficient, says SFC

By Editors | 27/03/2018

Thematic review details deficiencies in standards of conduct, due diligence practices and internal systems and controls.

Enforcement

SFC Fines UBS Securities for Missing Client Consent Records

By Editors | 23/03/2018

The firm was only able to provide the regulator about half of the client consents for facilitation trades.

Enforcement

HK Risks Becoming Auditing Outcast – Report

By Editors | 22/03/2018

Head of Financial Reporting Council says overhaul of accountancy regulation will not meet international standards.

Market Infrastructure

HK, India Sign Tax Pact

By Editors | 22/03/2018

Hong Kong investors will pay half the normal withholding tax rate on the interest earned on their investments in India.

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.