Hong Kong

Market Infrastructure

HKMA Proposes Mandatory Reference Checks to Stop Rolling Bad Apples

By Manesh Samtani | 08/05/2020

Under the scheme, prospective employees would be required to disclose employment records to recruiting AIs before a new employment relationship is established.

Securities / Derivatives

Charles Li to Step Down as HKEX Chief Executive Next Year

By Editors | 07/05/2020

Charles Li has been chief executive for over 10 years, and is credited with the launch of Stock Connect, Bond Connect, HKEX’s new listing regime and its dual class share system.

Securities / Derivatives

SFC Defers IM Rules, Maintains 1 September for VM Requirements

By Editors | 07/05/2020

While variation margin requirements will still take effect from 1 September 2020 as planned, initial margin requirements for non-centrally cleared OTC derivatives will be deferred by one year.

Enforcement

SFC Fines Mega International Commercial Bank Over Sales Practices

By Editors | 07/05/2020

Mega did not properly assess clients’ investment objectives, risk tolerance levels and knowledge of derivatives, or ensure the suitability of its fund recommendations for clients.

Hong Kong Set to Commence Fixed-rate Mortgage Pilot

By Editors | 06/05/2020

Under the six-month pilot scheme, participating banks will offer fixed-rate mortgage loans, capped at HK$10mn per loan transaction, and subject to a total aggregate cap of HK$1bn.

Market Infrastructure

HK Regulators Establish Green and Sustainable Finance Steering Group

By Editors | 05/05/2020

Initiated by the HKMA and SFC, the Steering Group will coordinate across other agencies and sectors to position Hong Kong as a global leader in green and sustainable finance.

Securities / Derivatives

HK Govt Under Fire for ‘False’ Justification of Broker Subsidies

By Manesh Samtani | 03/05/2020

Average daily market turnover jumped 54.5% in Q1 2020 compared to Q4 2019, which has led to a corresponding increase in brokerage revenues and profits.

Hong Kong Records Higher Negative Equity Mortgage Loans

By Editors | 30/04/2020

The negative equity loans are related to housing loans provided to bank staff or under mortgage insurance programmes, which tend to have higher loan-to-value ratios.

SFC Offers Guidance on Cyber Risk of Remote Office Arrangements

By Editors | 29/04/2020

In a circular, the SFC sets out examples of controls and procedures to help licensed corporations protect their internal networks and data.