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Securities / Derivatives
UPDATED – Hong Kong SFC Revamps Licensing Processes
By Editors | 04/02/2019
The move is aimed at halting “rolling bad apples” in their tracks by requiring firms to provide the SFC with details about employee departures, says Herbert Smith Freehills.
Market Infrastructure
JPM Asset Management Approved to Sell HK Funds in China
By Editors | 30/01/2019
Two of JPMorgan’s Hong Kong funds have been approved for distribution in China under the Mutual Recognition of Funds scheme.
Market Infrastructure
Hong Kong Seeks Market Views on Paperless Securities Market
By Editors | 29/01/2019
Hong Kong is seeking industry feedback on plans to introduce new systems for a paperless securities market to enhance global competitiveness and increase market efficiency.
Big Picture
IMF Commends Hong Kong for Robust Financial Regulation and Supervision
By Editors | 28/01/2019
The IMF has assessed that robust financial regulation and supervision should help Hong Kong weather domestic and external shocks despite growing risks to the city’s outlook.
Crypto / Digital Assets
Hong Kong, Luxembourg Sign Mutual Recognition of Funds Agreement
By Editors | 16/01/2019
Eligible general equity, bond or mixed funds authorised by the SFC can seek authorisation to be marketed to retail investors in Luxembourg.
Capital / Liquidity
SFC Fines FWD Life for Noncompliance with Key Personnel Requirements
By Editors | 09/01/2019
FWD Life also failed to maintain satisfactory internal controls and written compliance procedures as required under the SFC Code on MPF Products and the Fund Manager Code of Conduct.
Securities / Derivatives
Hong Kong SFC Launches New Online Submission Portal
By Editors | 07/01/2019
All functions and submission services available on the existing SFC Online Portal will be migrated to the new platform in phases.
Enforcement
Hong Kong Asset Manager Fined for Wash Trading
By Editors | 28/12/2018
The asset management firm was both the buyer and seller in a transaction between two of its brokers, which the SFC deemed was a wash trade.
Securities / Derivatives
Licensed Corporations Should Carefully Review Internal Controls – SFC
By Editors | 20/12/2018
The SFC has reviewed brokers’ internal control systems and found they are not adequately protecting client assets, supervising their staff or incentivising good compliance culture.
AML / KYC
Stock Connect to Introduce Investor ID Regime for Southbound Trading
By Editors | 17/12/2018
Launched on 26 September for northbound trading, the investor identification regime will be introduced for southbound trading by the end of Q1 2019.
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