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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.
AML / KYC
HK SFC, CSRC Agree Investor ID System for Northbound Stock Connect
By Editors | 04/12/2017
SFC says Northbound scheme will be followed by Southbound investor identification, eventually spread to all SEHK investors.
Securities / Derivatives
Stock Exchange Reality: Profit Versus Regulations
By Peter Guy | 27/11/2017
HKEX and SFC recently decided to admit dual class share listings, but reject a start-up board. Their decisions will change key regulatory principles.
Enforcement
HK Regulators Warn on Conflicts of Interest in Product Sales
By Editors | 27/11/2017
HKMA, SFC say some intermediaries aren’t revealing related counterparties, not executing at best price, hide cheaper products.
Enforcement
HSBC Private Bank Fined $50mn for Crisis-era Product Mis-selling
By Editors | 23/11/2017
Securities and Futures Appeals Tribunal says future fines will be similarly large and exceed ‘mere cost of doing business’.
AML / KYC
Hong Kong to Continue to Allow Mutual Fund Sales Commissions
By Editors | 20/11/2017
Securities and Futures Commission says Hong Kong is not ready to ban commissions and introduce a pay for advice model.
HK Court Confirms SFC Authority in Insider Trading Conducted Overseas
By Samuel Riding | 13/11/2017
Court also rules a person’s lack of awareness they are trading on inside information doesn’t mean they don’t have to pay back illicit gains.
Capital / Liquidity
HK SFC Launches Thematic Review of Prime Brokerage, Equity Derivatives
By Editors | 01/11/2017
Regulator says prime brokerage a growing revenue stream for institutions as Hong Kong’s asset management, hedge fund sectors expand.
Securities / Derivatives
Hong Kong Dual-class Listings Not Quite a Brave New World
By Peter Guy | 30/10/2017
Abandoning plans for third board and allowing main board dual-class shares do nothing to support start-ups or attempts to reinvent HK economy.
Securities / Derivatives
HK Brokers Face Cost Squeeze from Cybersecurity Guidelines
By JP Reimann | 30/10/2017
Brokers will be required to use 2FA for client log-ins; implement raft of new measures including management responsibility, stress tests.
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