Hong Kong

Market Infrastructure

Central Banks Act to Mitigate Covid-19 Economic Threat

By Editors | 04/03/2020

The HKMA has responded to the US rate cut with a cut of its own. The RBA and BNM have also cut their key policy rates, while the BOJ focuses on asset purchases.

AML / KYC

Financial Secrecy Index Ranks Hong Kong, Singapore in Top Five

By Manesh Samtani | 02/03/2020

The Tax Justice Network has released its 2020 rankings of jurisdictions according to their secrecy and the scale of their offshore financial activities.

Securities / Derivatives

HK FSDC Survey Highlights Regulatory Challenges in Wealth Management

By Editors | 26/02/2020

Survey and focus group participants highlighted KYC challenges, a lack of clarity on client suitability requirements, and overly onerous investor protection measures impeding professional investors.

AML / KYC

Hong Kong Announces Budget Initiatives to Boost Financial Sector

By Manesh Samtani | 26/02/2020

The initiatives include a waiver on stamp duties paid by ETF market makers, tax concessions for private equity funds, and planned enhancements to Hong Kong’s AML/CTF regime.

Enforcement

HKEX Finds Compliance Deficiencies at Exchange, Clearing Participants

By Editors | 25/02/2020

HKEX has asked 95 participants to address deficiencies relating to position limits and large open position reporting, risk management and China Connect trading activities.

AML / KYC

Hong Kong Insurance Authority Allows Non-face-to-face Product Sales

By Editors | 25/02/2020

The temporary measures are aimed at reducing the risk of Covid-19 infection from face-to-face meetings between insurers, intermediaries and clients.

Securities / Derivatives

SFC Highlights Key Regulatory Initiatives in Quarterly Report

By Editors | 25/02/2020

Among the initiatives were the launch of the new OFC regime for private fund managers, a regulatory framework for virtual assets, and enhancements to the investor compensation regime.

Fintech / Regtech

HKMA Invites Tenders to Implement Data Automation, Analytics

By Editors | 24/02/2020

The HKMA is inviting tenders to provide the regulator implementation services for data automation and big data analytics.

Enforcement

HK Court Upholds SFC Power to Access Digital Devices in Investigations

By Editors | 19/02/2020

The SFC is empowered to access to email accounts and personal digital devices which may contain information relevant to its investigations, the court said.