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Securities / Derivatives
HKEX Asks Participants to Prepare Systems for Investor Compensation Levy
By Editors | 13/01/2020
While the collection of the investor compensation levy is currently suspended, exchange participants should take necessary actions to prepare for its calculation and payment.
Enforcement
HKEX Updates Rules for Southbound Investor Identification Regime
By Editors | 08/01/2020
The rule update requires the China broker to keep records of all submitted orders, SEHK trades and related client instructions for a minimum of 20 years.
Securities / Derivatives
SFC Provides Licensing Guidance for PE Firms, Family Offices
By Editors | 08/01/2020
The SFC has issued two circulars clarifying how licensing obligations apply to the activities of PE firms and family offices in Hong Kong.
Enforcement
SFC Fines RHB Securities for Internal Control Failures
By Editors | 02/01/2020
RHB Securities failed to effectively implement its policy for avoiding conflicts of interest between its research reports and investment banking relationships, among other compliance issues.
Enforcement
CLSA, CITIC Securities Censured for Breaching Share Buyback Rules
By Editors | 02/01/2020
CLSA and CITIC Securities carried out pre-arranged trades on the SEHK to allow Beijing Enterprises Holdings to buyback its shares without regulatory or shareholder approval.
Enforcement
SFC Fines Fidelity Unit for Unlicensed Futures Dealing
By Editors | 31/12/2019
FIL Investment Management executed over 6,700 futures trades for overseas affiliates without a Type 2 licence, and delayed reporting the breach to the SFC.
Enforcement
SFC Fines Adamas Asset Management for Disclosure Failings
By Editors | 24/12/2019
The asset manager was fined HK$2.5mn for filing 339 incorrect or late notifiable interest disclosures to the SEHK and eight listed companies.
AML / KYC
SFC Proposes Enhancements to OFC Regime
By Editors | 23/12/2019
The changes include a mechanism for overseas corporate funds looking to re-domicile in Hong Kong. OFCs will also have to keep a register of beneficial shareholders.
AML / KYC
SFC, CSRC Set Date for Southbound Investor Identification Regime
By Editors | 20/12/2019
With technical preparations now complete at exchanges and clearinghouses, southbound trading investor identification regime is scheduled for implementation on 13 January.
Enforcement
China, US in Talks on Allowing Joint Inspections of Auditors
By Editors | 19/12/2019
The CSRC has reportedly been in talks with the US audit regulator on allowing joint inspections of firms that audit Chinese companies listed in the US.
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