Hong Kong

Market Infrastructure

HKEX Issues Update on FINI Operational Arrangements

By Manesh Samtani | 01/12/2021

HKEX provides key operational arrangement updates for FINI in a new information pack, including the onboarding requirements for market participants.

AML / KYC

HK ICAC Arrests Nine in Corruption Probe Involving Macau Firm

By Editors | 30/11/2021

CPAs and audit staff are suspected of accepting bribes to compile a false accountants’ report that was submitted to HKEX for a main board listing.

Enforcement

Hong Kong SFC Investigates Ramp-and-Dump Scam

By Editors | 29/11/2021

Restriction notices have been sent to two brokerage firms prohibiting them from dealing in assets worth HK$312mn held across 17 trading accounts.

AML / KYC

SFC Issues Technical Guidance for New Reporting Regime

By Editors | 28/11/2021

A new paper introduces a pre-defined file format for OTCR submissions. Guidance on the new investor identification regime has also been released.

ESG / Sustainability

HKMA Offers Guidance on Regtech for Reporting, Stress Testing

By Manesh Samtani | 28/11/2021

The latest regtech adoption guide highlights challenges banks face as a result of their use of legacy systems and siloed data structures.

Enforcement

HK ICAC Charges Four for Concealing Backdoor Listing

By Editors | 28/11/2021

A retired lawmaker and his son concealed an agreement with a third party who agreed to pay them about HK$210mn for control of a listed stock.

Enforcement

Hong Kong FRC to Increase Public Disclosures on Investigations

By Editors | 28/11/2021

The Financial Reporting Council will increasingly disclose its investigations when cases involve high public interest.

GBA Wealth Connect Pilot Records ¥200m in Transactions

By Sanday Chongo Kabange | 24/11/2021

Net investment via Wealth Connect has exceeded CNY 200 million so far, with participation from around 11,500 retail investors.

HKMA Publishes Interim Report on Front Office Incentives Review

By Manesh Samtani | 24/11/2021

Frontline staff with more positive perceptions of customer and conduct outcomes had incentives that emphasised both financial and non-financial factors.