Hong Kong

Securities / Derivatives

Mainland Investment Banks Barred from Sponsoring HK SPACs

By Editors | 14/03/2022

Mainland investment banks cannot act as SPAC promoters in Hong Kong, but commercial bank-affiliated institutions can.

Market Infrastructure

HKEX to Launch Derivatives Holiday Trading on 9 May

By Editors | 11/03/2022

The first suite of products to be added to Derivatives Holiday Trading will be all MSCI futures and options contracts.

Hong Kong FRC Consults on New Regulatory Powers

By Sanday Chongo Kabange | 10/03/2022

The FRC will extend the scope of its oversight to all practicing auditors and accountants, instead of just those servicing listed companies.

Market Infrastructure

PBOC Outlines Progress to Advance GBA Connectivity

By Darien Choong | 10/03/2022

About 20,000 investors from the GBA cities participated in the Wealth Management Connect programme by the end of 2021.

Big Picture

Hong Kong Balance of Risks Tilted to the Downside: IMF

By Sanday Chongo Kabange | 10/03/2022

The IMF says Hong Kong authorities should strengthen analysis of Mainland-related credit risks, and ensure internal models used by local banks are sufficiently forward-looking.

AML / KYC

US Lawmakers Ask HSBC to Justify HK Account Freezes

By Ranamita Chakraborty | 08/03/2022

A letter from a bipartisan group of US lawmakers asks HSBC to justify its actions to freeze the accounts of activists, independent media, and civic groups in Hong Kong.

HKMA Seeks to Reassure Bankers Over Covid Restrictions

By Editors | 07/03/2022

Concerns are mounting over closed schools and bars, banned flights, and a plan to launch a mass testing programme that may be coupled with a citywide lockdown.

Securities / Derivatives

SFC Directs Licensed Corporations to Plan for Contingencies

By Editors | 07/03/2022

The SFC expresses concern that some licensed firms may not have plans in place to deal with financial distress or the sudden unavailability of key staff.

Enforcement

SFC, HKEX Fine HSBC Securities for Regulatory Breaches

By Editors | 04/03/2022

The firm made errors when assigning BCANs to clients. It also oversold China securities due to deficiencies in its order management and algorithmic trading systems.