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Enforcement
SFC Fines Deutsche Securities Asia Over Prime Brokerage Statements
By Editors | 25/06/2021
A system design caused a failure to distinguish between ex-entitlement dates and settlement dates of bonus share events in periodic statements.
Market Infrastructure
HKMA Notifies Banks of Enhanced Competency Framework
By Editors | 22/06/2021
Banks are asked to review and assess the impact of the SFC’s revised framework and take action to ensure compliance.
Crypto / Digital Assets
InvestHK Launches 2021 Fintech Fast Track Programme
By Sanday Chongo Kabange | 21/06/2021
Selected companies will be showcased prominently at Hong Kong Fintech Week 2021 which takes place from 1 to 5 November.
ESG / Sustainability
New Competency Framework to Take Effect from January: SFC
By Editors | 21/06/2021
Raising professional standards is crucial to maintain quality markets, particularly in view of the rapidly evolving financial landscape, says SFC chief Ashley Alder.
Securities / Derivatives
Hong Kong-Thailand Mutual Recognition of Funds Takes Effect
By Manesh Samtani | 17/06/2021
Hong Kong’s SFC and Thailand’s SEC say the MRF scheme has taken effect. Both have issued new guidance on obtaining authorisation under the scheme.
Securities / Derivatives
Hong Kong Enacts Framework for Uncertificated Securities Market
By Editors | 13/06/2021
The SFC will consult the market on the subsidiary legislation in due course to prescribe the detailed rules and implementation timetable.
Market Infrastructure
Regulatory Harmonisation Critical to OTC Derivatives Reporting
By Priya Kundamal | 11/06/2021
The fragmentation of trade reporting rules and the lack of a common data set across jurisdictions hinders transparency and global risk monitoring, writes DTCC’s Priya Kundamal.
Enforcement
SFC Suspends GEO Securities Executive for 7.2 Months
By Sanday Chongo Kabange | 11/06/2021
GEO’s breaches were attributable to Lun Sheung Nim’s failure to discharge his duties as a responsible officer and member of the senior management.
ESG / Sustainability
SFC Raises Supervisory Focus on Fund Manager Resilience
By Manesh Samtani | 08/06/2021
The SFC is on the lookout for funds with outsized and concentrated bets to prevent an Archegos-type event in Hong Kong.
Enforcement
Hong Kong: Appeals Tribunal Overturns Ban Against UBS Banker
By Editors | 07/06/2021
The SFAT concluded that the former UBS banker cannot be held personally responsible for the failings of the China Metal Recycling transaction team.
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