Hong Kong

AML / KYC

Hong Kong Announces Budget Initiatives to Boost Financial Sector

By Manesh Samtani | 26/02/2020

The initiatives include a waiver on stamp duties paid by ETF market makers, tax concessions for private equity funds, and planned enhancements to Hong Kong’s AML/CTF regime.

Enforcement

HKEX Finds Compliance Deficiencies at Exchange, Clearing Participants

By Editors | 25/02/2020

HKEX has asked 95 participants to address deficiencies relating to position limits and large open position reporting, risk management and China Connect trading activities.

AML / KYC

Hong Kong Insurance Authority Allows Non-face-to-face Product Sales

By Editors | 25/02/2020

The temporary measures are aimed at reducing the risk of Covid-19 infection from face-to-face meetings between insurers, intermediaries and clients.

Securities / Derivatives

SFC Highlights Key Regulatory Initiatives in Quarterly Report

By Editors | 25/02/2020

Among the initiatives were the launch of the new OFC regime for private fund managers, a regulatory framework for virtual assets, and enhancements to the investor compensation regime.

Fintech / Regtech

HKMA Invites Tenders to Implement Data Automation, Analytics

By Editors | 24/02/2020

The HKMA is inviting tenders to provide the regulator implementation services for data automation and big data analytics.

Enforcement

HK Court Upholds SFC Power to Access Digital Devices in Investigations

By Editors | 19/02/2020

The SFC is empowered to access to email accounts and personal digital devices which may contain information relevant to its investigations, the court said.

Market Infrastructure

Hong Kong Bankers Compare Covid-19 to ‘Nightmare’ Stress Test

By Editors | 17/02/2020

The actions being taken to combat the novel coronavirus are reportedly “very close” to those taken in a simulated exercise last October, which involved a pandemic, cyberattack and telecoms breakdown.

Fintech / Regtech

HKMA Invites Tenders to Facilitate Regtech Adoption in Banking

By Editors | 17/02/2020

The HKMA is inviting tenders for the provision of professional services to help it facilitate the adoption of regtech by the banking industry.

Enforcement

HK SFC Fines Wealth Manager for Noncompliance with Taiwan Laws

By Editors | 17/02/2020

Capital Global Management Limited was distributing offshore investment funds and offering investment advice in Taiwan despite not being authorised by Taiwan’s regulator.