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Hong Kong
Sanctions
US Extends Sanctions on HK Officials for Five More Years
By Editors | 27/12/2024
The Hong Kong government said the sanctions will ultimately harm the interests of the US and its companies.
Enforcement
AFRC Fines BDO and Two Partners for Audit Failures
By Editors | 27/12/2024
The AFRC said BDO’s history of non-compliance suggests a “tendency of repeated failures to comply with auditing and professional standards”.
ESG / Sustainability
HKEX Will Adopt Changes to Corporate Governance Code
By Manesh Samtani | 26/12/2024
HKEX will cap the number of board seats that INEDs can hold at six and limit the duration of their tenure to nine years.
HKMA Streamlines Audio-recording Requirement for Investment Sales
By Editors | 26/12/2024
HKMA circular covers the use of video conferencing and other digital tools to conduct investment transactions of retail banking customers.
Securities / Derivatives
Hong Kong and UAE to Connect Debt Capital Markets
By Editors | 24/12/2024
HKMA and CBUAE aim to “allow seamless and cost-effective cross-border debt securities issuance, trading, investment, settlement as well as collateral management.”
Securities / Derivatives
CSRC, SFC Finalise Enhancements to Funds Recognition Scheme
By Manesh Samtani | 23/12/2024
SFC’s Julia Leung said the enhancements will expand the business potential for asset managers and the diversity and scale of MRF products.
Securities / Derivatives
HKEX Proposes to Enhance IPO Pricing and Offering Mechanism
By Manesh Samtani | 23/12/2024
Among its proposals, HKEX is exploring allowing a “staggered release” of the IPO lock-up for cornerstone investors.
Fintech / Regtech
HKMA’s Carmen Chu Urges Banks to ‘Embrace the Opportunities’ of GenAI
By Sanday Chongo Kabange | 22/12/2024
HKMA’s Carmen Chu said banks should foster a culture of “continuous learning” within their institutions and experiment with HKUST’s InvestLM GenAI Platform.
Securities / Derivatives
HK Government Asked to Explain ‘Sluggish’ Sales of Retail Infrastructure Bond
By Editors | 22/12/2024
Hong Kong officials Christopher Hui and Paul Chan both attributed the undersubscription to a wider range of attractive investment options in the market.
Market Infrastructure
HKMA Requiring Banks to Develop Capability to Switch Between CRAs
By Sanday Chongo Kabange | 20/12/2024
Retail banks must have agreements in place with more than one CRA by Jan 2025 and complete switch-over testing within Q2 2025
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