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Crypto / Digital Assets
The Rise of the Crypto Hedge Fund: Opportunities and Challenges
By Hannah Cassidy | 27/08/2018
Cryptocurrency is fast establishing itself as a mainstream asset class, evident from the emergence of several new crypto hedge funds. However, given the complex regulatory and operational issues involved, it is important for firms to review crypto-related projects carefully and engage with regulators early to avoid costly surprises and delays.
AML / KYC
HKEX Unveils Details of New Northbound Investor ID Regime
By Garima Chitkara | 27/08/2018
HKEX to launch secure file transfer protocol service for exchange participants later this month to ensure smooth transition to new investor ID regime for northbound trading, set for 17 September.
Enforcement
Hong Kong Forex Broker Fined for Mishandling Client Money
By Editors | 23/08/2018
HPI Forex Limited transferred client money from segregated client account to two overseas brokers, breaching the Code of Conduct and the SFC’s client money rules.
Securities / Derivatives
Hong Kong SFC Proposes New Rules For Securities Margin Financing
By Garima Chitkara | 20/08/2018
The regulator has launched a two-month consultation around stronger risk management standards to govern securities margin financing.
Securities / Derivatives
SFC Warns Against Disguised Margin Financing
By Editors | 06/08/2018
Suspected margin financing arrangements involve unlicensed affiliates of licensed corporations or third parties who appear to be engaging in securities margin financing without an SFC licence in order to circumvent regulatory requirements.
Market Infrastructure
SFC to Assess Licensed Firms for FRTB Adoption Readiness
By Manesh Samtani | 06/08/2018
Pending an update from the Basel Committee on FRTB, the SFC will assess the readiness of LCs to adopt the internal models approach for market risk based on the Basel II.5 framework.
Market Infrastructure
Hong Kong’s Revised OFC Regime Goes Into Effect
By Garima Chitkara | 30/07/2018
Hong Kong’s new open-ended fund regime that will allow OFCs to be set up as corporates takes effect on 30 July.
Fintech / Regtech
Technology and Regulation: Rapidly Reforming the Funds Industry
By Leo Chen | 25/07/2018
The Asian funds industry is undergoing a period of fundamental change and challenge. This is a result of shifting investor demographics, rapid technological development, the emergence of technology firms and tightening regulation.
Enforcement
SFC Fines HSBC Unit $1.2mn on Bond Solicitations
By Mark Pufpaff | 23/07/2018
HSBC Broking Securities failed to conduct proper due diligence on bonds recommended to clients and to implement effective systems ensure suitability with client needs.
Enforcement
SFC Bans Former StanChart Securities Executive for Three Years
By Mark Pufpaff | 20/07/2018
Joseph Hsu Kay Hing failed to exercise appropriate care in his responsibilities as sponsor principal and responsible officer during the supervision of a 2009 listing application.
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