Hong Kong

Enforcement

SFC Launches Proceedings Against China Ding Yi Feng Manipulators

By Editors | 23/01/2020

On its first day of trading after a 10-month suspension, China Ding Yi Feng has lost 90% of its value, representing HKD 25 billion in lost market value.

Market Infrastructure

HKMA Consults on Contractual Stay Provisions in Financial Contracts

By Editors | 23/01/2020

FIs will have to adopt provisions in financial contracts binding counterparties to temporary stays on termination rights that may be imposed by the HKMA during bank resolution.

Fintech / Regtech

HKMA, BOT Announce Outcomes of Joint CBDC Research

By Editors | 23/01/2020

In 3Q 2019, eight Thai banks and two Hong Kong banks (HSBC and ZA Bank) participated in a THB-HKD cross-border corridor network PoC using a CBDC.

Fintech / Regtech

HKMA to Set Up ‘Digitalisation Office’ to Implement Transformation

By Editors | 22/01/2020

The progressive development of digitalisation initiatives will bring profound changes to how the HKMA works and further enhance its efficiency, says deputy chief Howard Lee.

Capital / Liquidity

HK Banks Pledge Continued Leniency for SME Borrowers

By Editors | 21/01/2020

At the second meeting of the Banking Sector SME Lending Coordination Mechanism, established in October, banks agreed to a number of additional measures to aid SME borrowers.

Securities / Derivatives

SFC Offers Brokers, Fund Managers Guidance on Risk Governance

By Editors | 21/01/2020

Senior management, including the board, responsible officers and MICs will be held accountable for the overall risk management control of their firms.

Big Picture

Moody’s Downgrades Hong Kong, Citing Lack of Response to Unrest

By Editors | 21/01/2020

The absence of an effective response by Hong Kong’s government to address the concerns of the population indicate weaker institutional and governance strength.

Market Infrastructure

Benchmark Reform: HONIA Beckons but is Hong Kong Ready?

By CorporateTreasurer | 20/01/2020

TMA published feedback from market participants on HONIA as the successor to HIBOR in late December but unlike its US counterpart SOFR, Asian businesses are taking time to adapt.

Enforcement

Review Panel Offers Recommendations for Improving SFC Operations

By Editors | 17/01/2020

While welcoming the SFC’s front-loaded regulatory approach, the Process Review Panel says the regulator should be aware of its possible unintended effects and consider ways to minimise them.