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Capital / Liquidity
HK SFC to Remove Corporate Treasury of non-Financial Firms from OTC Regulation
By Samuel Riding | 21/12/2017
Extensive consultation also proposes to expand risk mitigation requirements to ‘all licensed corporations’, rejects idea of regulatory threshold.
Enforcement
HK SFC Releases 1st MiC Regime Guidance Bulletin
By Editors | 20/12/2017
Report warns on conflicts of interest in sales practices and asset management; notes asset management sector now has more than half of all intermediaries.
Capital / Liquidity
HK SFC Proposes Raising Capital Required by Fund Managers
By Editors | 19/12/2017
Consultation covers raising of minimum capital requirement to HKD10 million, introduction of derivatives use by public funds with enhanced safeguards.
Enforcement
Standard Chartered Brokerage Arm Hit With $330,000 Fine
By Editors | 19/12/2017
SFC investigation reveals internal control failures resulted in at least 61 regulatory breaches involving short selling, required liquid capital deficit of HKD2 billion.
Enforcement
2017 a Punishing Year for Naughty Traders in China
By Editors | 18/12/2017
China securities regulator has issued 206 administrative penalties in 2017, more than $1bn in fines; increasing cooperation with HK SFC.
AML / KYC
US Lifts Threat of Criminal Charges against HSBC
By Garima Chitkara | 14/12/2017
Bank released from deferred prosecution agreement after meeting its terms; outgoing CEO says AML to remain ‘a top priority’ in 2018.
Enforcement
Hong Kong Court Confirms Legality of SFC-CSRC Information Sharing
By Editors | 12/12/2017
Judge rejects legal challenge to transfer of documents seized by SFC during execution of a search warrant to the Chinese securities regulator.
Market Infrastructure
Hong Kong Rejects Japan-style Embrace of Cryptocurrencies
By Editors | 11/12/2017
Government official says Hong Kong will continue to regard cryptocurrencies as commodities, won’t legitimise through regulation.
AML / KYC
HK SFC Sees Criminal Charges Surge
By Editors | 07/12/2017
Securities regulator laid 42 charges in 6 months to end-September this year, up 180% from same period in 2016, but commenced far fewer investigations.
Capital / Liquidity
ESMA to Bring 3rd-country CRAs, Trade Repositories Under EU Supervision
By Samuel Riding | 04/12/2017
ESMA executive director Verena Ross says more than 200 non-EU trading venues have asked for exemptions from MiFID II post-trade transparency, position limits.
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