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Fintech / Regtech
HK Brokers Rush to Comply with SFC Cybersecurity Rules
By JP Reimann | 18/04/2018
Several online brokers had been hoping for a delay, tech advisory firm suggests some are ‘willing to trade a little security for convenience’.
Enforcement
SFC Reprimands, Fines Nomura’s Instinet $2.2mn
By Editors | 16/04/2018
The firm failed to put in place reasonable controls to ensure non-proprietary orders received execution priority, prevent erroneous and disorderly orders being sent to the market.
Fintech / Regtech
SFC Eying Rules on Instant Message Trade Orders
By Samuel Riding | 16/04/2018
Executive director also says regulator to develop common standard on the content and format of data required to be kept by investment firms.
Securities / Derivatives
SFC Identifies Best Practices for Alternative Liquidity Pools
By Editors | 10/04/2018
ALP operator guidelines should include third-party order routing and information about prioritisation for orders simultaneously posted to exchanges; all ALP users should be qualified investors.
Fintech / Regtech
SFC Issues Robo-advice Guidelines
By Samuel Riding | 29/03/2018
Robo-advice platforms should explain how their underlying algorithms operate, ensure regular testing to ensure they remain fit for purpose.
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
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.
Enforcement
UPDATED – SFC Hits UBS with Fine, IPO Underwriting Suspension
By Manesh Samtani | 12/03/2018
The bank was fined $15.2mn and intends to appeal its 18-month suspension from IPO underwriting; possible disciplinary action on eight other firms.
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