Hong Kong

    Capital / Liquidity

    HK Legco to Consider Recovery Planning, Large Exposures Bill

    By Editors | 19/10/2017

    Banking Ordinance already includes resolution, but not recovery, requirements; HKMA to retain ‘general power’ on exposure limits.

    Enforcement

    HK SFC Investigating 15 IPO Sponsors for ‘Substandard’ Work

    By Samuel Riding | 12/10/2017

    Head of enforcement says the IPO sponsors may have failed to verify data, opening the door to fraud by the listing companies.

    AML / KYC

    FIs No Longer Have to Verify Client Addresses for AML/CTF – HKMA

    By Editors | 12/10/2017

    AML/CTF regulations to be changed; banking regulator says any current absence of address verification will be seen as justified.

    AML / KYC

    Hong Kong-China to Share Stock Connect Broker, Trader Names

    By Editors | 11/10/2017

    SFC chief says move will enhance market transparency and surveillance, and improve efficiency in cracking down on malpractice.

    AML / KYC

    HKMA Launches Smart Banking Initiative Including Enhanced Sandbox

    By Samuel Riding | 29/09/2017

    In addition to the enhanced sandbox, HKMA will also work on a new payment system, minimising regulatory friction in onboarding and other services.

    Market Infrastructure

    Hong Kong Considering Tax Breaks for PE Managers

    By Editors | 28/09/2017

    Government and trade bodies view PE as means of increasing support for Hong Kong Start-ups, keeping pace with Singapore and the UK.

    Enforcement

    HK Regulator Seals 1st Conviction of Unlicensed Offshore Brokerage

    By Editors | 25/09/2017

    ETrade HK advertised its services for four years without a license; SFC says successful prosecution a 1st for the offence.

    Fintech / Regtech

    Hong Kong Monetary Authority Sends Fintech Delegation to London

    By Editors | 21/09/2017

    Central bank and apex regulator says delegation is the largest it has ever put together, will meet London start-ups and accelerator programmes.

    Securities / Derivatives

    HK SFC Inquiries Reveal Fund Managers’ Best Execution Failings

    By Samuel Riding | 18/09/2017

    Investigations of about 250 firms including subsidiaries of US and EU players also find weaknesses in avoiding conflicts of interest and liquidity management.

    AML / KYC

    Hong Kong’s Changing AML Landscape

    By Kane Mak | 13/09/2017

    AML/CTF efforts in Hong Kong are gaining momentum as it gears up for the upcoming mutual evaluation by FATF in 2018.

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