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Fintech / Regtech
Lack of Electronic Solutions Hindering Capital Market Access: ASIFMA
By Editors | 30/11/2020
The report calls on government and regulators to facilitate greater use of e-signatures, virtual meetings, and other electronic solutions in Hong Kong and Singapore capital markets.
Securities / Derivatives
SFC Finalises Changes to Grant Greater Flexibility to REIT Managers
By Editors | 29/11/2020
REITs will be allowed to invest in minority-owned properties and property development projects, and borrowing limits will be increased.
Enforcement
SFC Bans Ex Sun Hung Kai Account Exec Over Discretionary Trading
By Editors | 26/11/2020
The former licensed representative effected transactions in two clients’ accounts on a discretionary basis without obtaining prior written authorisations or senior management approval.
Market Infrastructure
Stock Connect Set to Include Pre-profit Biotechs, STAR Market Stocks
By Manesh Samtani | 26/11/2020
In a policy address, Hong Kong chief executive Carrie Lam discussed measures to expand Stock Connect and enhance the city’s integration into the Greater Bay Area.
Enforcement
SFC Bans Ex-StanChart Banker For Concealing Personal Trades
By Editors | 25/11/2020
The SFC’s decision followed a referral from the HKMA, which discovered that the former banker also wilfully misrepresented himself to the Appeals Tribunal.
Fintech / Regtech
SFC Signs Fintech Cooperation Agreement with Israeli Regulator
By Editors | 17/11/2020
The agreement establishes a framework for information sharing, potential joint innovation projects and referrals of innovative firms seeking to enter one another’s markets.
Securities / Derivatives
SFC Plans to Issue Code of Conduct for Investment Banks – Report
By Editors | 16/11/2020
The SFC is reportedly seeking to frame a detailed code of conduct for capital raisings that will cover how investment banks calculate their fees.
Market Infrastructure
HKEX Proposes Revamp of Hong Kong IPO Settlement Process
By Manesh Samtani | 16/11/2020
Subject to market support and readiness, HKEX intends to launch a new platform called FINI in 2022 that will cut the IPO settlement process from T+5 to T+1.
Enforcement
SFC Fines Credit Suisse Securities Over Market Making Errors
By Editors | 09/11/2020
Credit Suisse Securities submitted 17,000 erroneous market making quotes to the market in 8 minutes due to a logic error in its symbol mapping programme.
AML / KYC
SFC Eases Uncertainty Over National Security Law – Report
By Editors | 09/11/2020
Implementing US sanctions is unlikely to be considered a breach of the national security law. The SFC has dropped a plan to force cloud providers to share client data.
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