Hong Kong

Market Infrastructure

HKEX’s OTC Clear Introduces Client Clearing Services

By Editors | 15/06/2020

Market participants who are not themselves clearing members of OTC Clear can gain access to the benefits of central clearing through existing clearing members.

AML / KYC

Two Singaporeans Charged for Cheating Eight Banks

By Editors | 15/06/2020

Two former employees of a crude oil products supplier allegedly created fictitious sales contracts and invoices to obtain $340mn in financing from eight banks.

Securities / Derivatives

HKMA to Select Managers for New Growth Portfolio by H2 – Report

By Editors | 15/06/2020

The sovereign growth portfolio will invest in Hong Kong-specific projects, aimed at lifting the city’s competitiveness in financial services, commerce, aviation, logistics and innovation.

AML / KYC

HKMA Spotlights RegTech Use to Implement AML/CFT Measures

By Manesh Samtani | 15/06/2020

The HKMA outlines four regtech use cases that support the effective implementation of AML/CFT measures at Hong Kong banks.

Securities / Derivatives

HKEX to Automate Large Open Position Reporting Process

By Editors | 11/06/2020

Starting in September, participants will be able to fully automate their current LOP reporting process, using the Secure File Transfer Protocol (SFTP) facility.

Fintech / Regtech

Xiaomi-AMTD Joint Venture Launches Hong Kong Virtual Bank

By Editors | 11/06/2020

Airstar Bank commits to becoming “Everyone’s Bank”, contrasting itself with conventional banking models which focus on high net-worth individuals.

Securities / Derivatives

SFC to Narrow Scope of OTC Derivatives Licensing Regime

By Manesh Samtani | 10/06/2020

The OTC derivatives licensing regime will not capture corporate treasury activities of non-financial groups, portfolio compression services, and certain portfolio management activities.

Securities / Derivatives

Regulatory Change a Challenge for Hong Kong Fund Managers

By Editors | 10/06/2020

Overregulation is an issue for some fund managers in Hong Kong, but the industry is also calling for greater regulatory clarity around GBA initiatives and ESG standards, according to a KPMG-HKIFA survey report.

Securities / Derivatives

SFC Proposes to Grant Greater Investment Flexibility to REITs

By Editors | 09/06/2020

REITs will be given more flexibility to invest in minority-owned properties and property development projects, and borrowing limits will be increased.