Hong Kong

Market Infrastructure

Hong Kong FRC’s New Oversight Powers Start in October

By Editors | 21/05/2019

The Financial Reporting Council will commence its role as the independent oversight body for auditors of listed companies from 1 October this year.

Securities / Derivatives

HKEX to Extend After-Hours Session From 17 June

By Editors | 21/05/2019

The enhancement will provide investors greater flexibility during US market hours and improve risk management, HKEX says.

ESG / Sustainability

Hong Kong: An Ecosystem Approach to Bank Culture Reform

By Jeffrey Kupfer | 21/05/2019

The HKMA is addressing culture and conduct risk by learning from other markets, engaging with other regulators, and exploring new technology, say Jeff Kupfer and Stephen Scott at Starling Trust.

Enforcement

Ex-JP Morgan Managing Director Charged with Bribery

By Editors | 20/05/2019

A former JP Morgan Securities managing director offered to employ the son of a potential client as a reward for “showing favour” in hiring the bank for IPO sponsor work.

Enforcement

Hong Kong ICAC Files Charges Against Former Convoy Director

By Manesh Samtani | 18/05/2019

Charges were laid against Cho Kwai Chee, a former director of Convoy Global Holdings, one of the companies said to be at the centre of the so-called ‘enigma network’.

Enforcement

SFC Warns Brokers, Traders on Client Facilitation Conduct

By Manesh Samtani | 17/05/2019

The SFC has found brokers that are failing to comply with the expected standards on client facilitation, and plans to take action against both individuals and firms.

Market Infrastructure

Hong Kong, Netherlands Agree Mutual Recognition of Funds

By Editors | 16/05/2019

Hong Kong and Dutch regulators have set out a framework for the exchange of information and mutual recognition of funds registered in both jurisdictions.

Fintech / Regtech

Hong Kong, Thailand Central Banks Sign Fintech Collaboration Agreement

By Editors | 15/05/2019

HKMA and BOT have agreed to collaborate on fintech innovation, including through a joint research project on the development of a central bank digital currency.

Market Infrastructure

HKEX Reports on Business Progress in Quarterly Results

By Manesh Samtani | 10/05/2019

Among the updates are plans to extend trading hours for derivatives products and introduce new interest rate derivatives. HKEX also reportedly plans to shorten IPO settlement to T+1.