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Enforcement
SFC Fines China Everbright Over Expired Standing Authority
By Editors | 29/09/2020
The standing authority used to pledge client securities to obtain credit lines from banks was not renewed due to a miscommunication between compliance teams.
Enforcement
SFC, IA Sign New MoU on Supervisory Cooperation
By Editors | 28/09/2020
The MoU covers case referrals, joint inspections and investigations, and sharing of information pertaining to products and relevant entities or key persons.
Market Infrastructure
FSDC Calls For HK-listed Derivatives Tracking A-Shares
By Manesh Samtani | 24/09/2020
Once the new A-share based derivatives products are launched in Hong Kong, they should be opened up to Mainland investors via Stock Connect.
Securities / Derivatives
SFC Identifies Cybersecurity Deficiencies at Internet Brokers
By Editors | 23/09/2020
The SFC found deficiencies relating to two-factor authentication, data encryption, session timeout, monitoring and surveillance, among other areas.
Securities / Derivatives
Riding the Tech Wave in a Volatile Derivatives Market
By John Omahen | 23/09/2020
A surge in trading volumes has highlighted the need for brokerage firms to re-engineer their businesses for the future, writes John Omahen at FIS.
Enforcement
SFC Suspends Former Licensed Rep for Over Discretionary Trading
By Editors | 22/09/2020
The former Ewarton Securities representative placed his own orders within 30 seconds ahead of those placed for the client’s account.
AML / KYC
SFC Revises AML/CFT Guidelines for Securities Sector
By Manesh Samtani | 20/09/2020
The proposed amendments seek to align the SFC’s guidelines with the FATF guidance for adopting a risk-based approach in the securities sector.
Enforcement
SFC Fines BEA for 13 Year Failure to Segregate Client Securities
By Editors | 17/09/2020
There was no evidence of client loss as a result of BEA’s regulatory breaches, and the bank has undergone remedial actions to enhance its internal systems and controls.
Enforcement
SFC Bans Sponsor Principal for 20 Months Over 2017 IPO Application
By Manesh Samtani | 16/09/2020
Former Yi Shun Da Capital CEO breached the code of conduct and sponsor guidelines in his work on the listing application of Imperial Sierra Group in 2017.
Enforcement
SFC Issues Statement on Alleged Manipulation of Next Digital Shares
By Manesh Samtani | 14/09/2020
The SFC does not explicitly say whether it is investigating Next Digital trading activity or whether a request for assistance was received from police ahead of last week’s arrests.
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