SECURITIES AND FUTURES COMMISSION

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    Enforcement

    SFC Fines Brokerage for 2015 System Testing Incident

    By Editors | 14/03/2023

    I-Access Investors incorrectly used data from system testing as production data and inadvertently triggered 27 stop loss sell orders by 12 clients.

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    Market Infrastructure

    HK to Amend Clearing Rules to Account for IBOR Reforms

    By Editors | 13/03/2023

    Mandatory clearing will be required for certain OTC transactions referencing ARRs rather than for those referencing IBORs that are being discontinued.

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    Securities / Derivatives

    SFC Fines City International Futures for AML Compliance Failures

    By Editors | 10/03/2023

    City International Futures is the 6th firm to be fined over the use of software that allows Mainland investors to trade without opening a local securities account in Hong Kong.

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    Enforcement

    SFC Bans Former Senior Manager of Citigroup Asia Unit for Misconduct

    By Editors | 07/03/2023

    Philip Shaw’s misconduct was “intentional, dishonest and contrary to a licensed person’s overarching duty to act in clients’ best interests,” the SFC said.

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    Enforcement

    SFC Bans Ex-Convoy Licensee Over Stock Manipulation Scheme

    By Editors | 05/03/2023

    A Convoy Asset Management consultant was banned for life for his role in a stock manipulation scheme and for lying to the SFC.

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    AML / KYC

    SFC Calls on Investors to Provide Consent for HKIDR Regime

    By Editors | 03/03/2023

    After the launch of HKIDR on 20 March, investors who haven’t provided consent will not be able to buy securities on the stock exchange.

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    Hong Kong Appoints Ex-Regulators to HKEX Board

    By Editors | 02/03/2023

    Former HKMA chief Joseph Yam and ex-SFC chairman Carlson Tong have been appointed as board directors for HKEX.

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    Crypto / Digital Assets

    SFC Authorises HashKey to Conduct OTC Crypto Trades

    By Editors | 01/03/2023

    The approval allows HashKey to act as an intermediary to facilitate trades between parties including for unlisted tokens.

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    Enforcement

    SFC Bans Former Dah Sing Bank Representative for Life

    By Editors | 28/02/2023

    The former relationship manager convinced an elderly customer to redeem an investment and then used the proceeds to repay his own debts.

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    Market Infrastructure

    Stock Connect Trading Calendars Adjustments to Take Effect in April

    By Editors | 27/02/2023

    The trading calendar enhancements will add more than ten trading days to northbound and southbound Connect each year.

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