HONG KONG

Hong Kong Regulator Reprimands Citigroup on Algorithm Error

By Editors | 15/05/2014

The Securities and Futures Commission (SFC) has reprimanded Citigroup Global Markets Asia Limited (Citigroup) for failing to ensure its algorithmic trading systems functioned property for certain securities orders between April 2009 and May 2010.

Hong Kong’s HKEx Sponsor Regime Curbs Vetting for Listing Application

By Editors | 15/05/2014

Hong Kong Exchanges and Clearing’s new sponsor regime for listing applicants has been working well, curbing vetting time for applicants and improving quality of applications.

Hong Kong, US Conclude Talks on Tax Agreement

By Editors | 12/05/2014

Hong Kong and the United States have concluded discussions on an inter-governmental agreement that will facilitate Hong Kong financial institutions’ compliance with the US Foreign Account Tax Compliance Act.

Hong Kong’s HKEx Gets Approval for US OTC Clearing

By Editors | 12/05/2014

Hong Kong Exchanges and Clearing (HKEx) has received approval from the US Commodity Futures Trading Commission (CFTC) to clear over-the-counter derivatives for US clients.

Hong Kong Regulator Outlines Crowd-funding Risks, Regulatory Issues

By Editors | 08/05/2014

Crowd-funding that allows people to raise money for loans, causes, or projects through the web pose potential regulatory compliance issues and other investment risks.

IMF Warns of Hong Kong Banks’ Soaring Credit Exposure to China

By Editors | 07/05/2014

The International Monetary Fund has warned of Hong Kong banks’ rising exposure to mainland debt.

RBS Fined HK$6m Over Illegal Emerging Markets Trades

By Editors | 22/04/2014

The Royal Bank of Scotland (RBS) has been fined HK$6 million for internal control failures relating to the detection and prevention of unauthorized trading activities.

HKEx Plans to Launch Thermal, Metals Futures This Year

By Editors | 22/04/2014

Hong Kong Exchanges and Clearing will offer renminbi-denominated futures for zinc, copper and nickel, under plans to expand its commodities trading this year.

Hong Kong Prepares Sukuk Issuance

By Editors | 14/04/2014

Hong Kong is ready for Islamic bonds following the establishment of a tax framework that supports sukuk issuance, and as the government further develops a market for such bonds in the territory with the debut of a government sukuk.