Deceptive practices were deployed at the expense of clients’ best interest and to the detriment of market integrity, said SFC chief Ashley Alder.
January 29, 2022Financial groups should promote a strong risk culture, put in place appropriate supervision and surveillance, and ensure fairness and transparency in trade execution.
January 28, 2022This is the second fine imposed against a firm over the use of a customer supplied system called Xinguanjia, which allows the creation of subaccounts that can be operated by a third party.
January 21, 2022Banks including Goldman Sachs, Bank of America, Morgan Stanley and UBS are struggling to bring key executives into Hong Kong due to flight bans.
January 18, 2022Only Hong Kong incorporated entities licensed by the HKMA would be allowed to actively market stablecoins to the local public.
January 13, 2022Grand International Futures did not conduct due diligence on customer supplied systems, resulting in thier use to create subaccounts and solicit investment from Mainland investors.
January 2, 2022Eligible ETFs will be included in Stock Connect. Business and technical preparations are expected to take about six months to complete.
December 28, 2021The new framework takes effect on 1 January. A SPAC’s securities must be distributed to at least 20 institutional professional investors, down from 30 proposed during consultation.
December 20, 2021HKMA to develop new ECF module on Green and Sustainable Finance. Steering Group to explore local taxonomy and voluntary carbon market.
December 18, 2021The existing list of calculation periods will be exhausted in about one year’s time. The HKMA and SFC propose to add eight similar calculation periods to the clearing rules.
December 17, 2021