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Securities / Derivatives
Hong Kong: Securities Industry Subsidies to be Available from 25 May
By Editors | 20/05/2020
A cash subsidy of HK$50,000 will be available for securities firms ranked 15th onwards by market turnover, and HKD 2,000 for each individual licensed by the SFC.
Market Infrastructure
Clearstream, Euroclear Appoint First Chinese Bank as Common Depository
By Editors | 20/05/2020
As a common depository, CCB (Asia) will facilitate access to the international capital markets for Chinese issuers, and provide APAC investors easier access to the Eurobond market.
Enforcement
SFC Fines Convoy Asset Management Over Bond Sales
By Editors | 20/05/2020
The firm failed to comply with product due diligence requirements, client suitability obligations and specific guidance on the sale of fixed income products.
Securities / Derivatives
HSI Operator to Allow Dual Class Shares as Index Constituents
By Editors | 19/05/2020
WVR and secondary-listed companies from the Mainland will be eligible for including in the HSI and HSCEI. H-share companies with unlisted share capital will also be eligible.
Securities / Derivatives
HKMA, SFC to Jointly Review OTC Product Pricing at Intermediaries
By Manesh Samtani | 19/05/2020
The thematic review will assess the spreads intermediaries charge for non-exchange traded investment products such as bonds and structured products.
AML / KYC
SFC Reprimands, Fines Southwest Securities for AML/CFT Failures
By Editors | 18/05/2020
The brokerage failed to implement adequate and effective policies and procedures to mitigate AML/CFT risks associated with third party deposits.
Securities / Derivatives
HKEX Moves to Enhance Liquidity of Exchange Traded Products
By Editors | 18/05/2020
A new spread table will reduce tick sizes and spreads for ETPs, while new market making obligations create a more competitive liquidity providing environment.
SFC to Get Another Three Year Term from CEO Ashley Alder
By Editors | 18/05/2020
Alder was expected to step down in September, but has decided to stay on to ensure regulatory clarity through the current period of “exceptional stress”.
AML / KYC
HK Police Arrest Three in HK$54m Money Laundering Case – Report
By Editors | 17/05/2020
Money stolen through telephone and online scams was laundered through at least three layers of bank accounts in Hong Kong within hours before being funnelled out of the city.
Securities / Derivatives
Hong Kong Lowers Transaction Costs for ETF Market Makers
By Editors | 16/05/2020
An amendment waives stamp duties on primary market stock transfers involving ETF market makers’ activities to create and redeem ETF units.
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