Hong Kong

Securities / Derivatives

HKEX Launches First 2x Inverse ETF

By Editors | 29/05/2019

In its three year strategic plan unveiled earlier this year, HKEX said it would work to become a hub for the issuance and trading of ETFs in Asia.

Market Infrastructure

Hong Kong, China Agree to Cooperate on Audit Regulation

By Editors | 28/05/2019

Hong Kong’s Financial Reporting Council will be able to access audit papers located in the mainland “through an effective mechanism and clear procedures”.

Market Infrastructure

Regulatory Change Aggravated the CITIC-CLSA Culture Clash

By Peter Guy | 28/05/2019

Though the CLSA-CITIC fallout was characterised as a cultural clash, this narrative frays against the other challenges facing stock brokers and investment bankers, says Peter Guy.

Enforcement

SFC Fines China Merchants Securities for IPO Sponsor Failures

By Editors | 28/05/2019

China Merchants Securities was a joint sponsor with UBS – fined in March – for the 2009 IPO of China Metal Recycling, which was found to have fabricated financial information.

Securities / Derivatives

HK to Suspend Stocks on Disclaimer, Adverse Audit Opinions

By Editors | 27/05/2019

Trading in a Hong Kong listed company will be suspended if the auditor issues a disclaimer or adverse opinion for any financial year commencing on or after 1 September 2019.

Securities / Derivatives

SFC Investigation Disclosure Obligation Presents Challenge to Industry

By Manesh Samtani | 24/05/2019

The SFC has clarified aspects of the new disclosure obligation, but concerns remain over logistical and administrative burdens, say ASIFMA and Herbert Smith Freehills.

ESG / Sustainability

HKEX Consults on ESG Reporting Framework

By Editors | 24/05/2019

HKEX is reviewing its ESG reporting framework to ensure it remains fit for purpose and is up to date with investor and stakeholder expectations and international best practice.

Fintech / Regtech

HKMA Steps Towards Regulating Big Data Analytics, AI in FinTech

By Hannah Cassidy | 24/05/2019

Herbert Smith Freehills says the HKMA push for adoption of the Ethical Accountability Framework in FinTech development represents a broader movement toward regulating artificial intelligence.

AML / KYC

Hong Kong, China Framework Comparison – KYC Standards

By Prasanna Venkatesan | 23/05/2019

Given the similarities between Hong Kong and China’s KYC frameworks, cross-border onboarding and account opening has become less of a challenge, say Synpulse’s Prasanna Venkatesan, Gregory Achache and Marina Mai.