Hong Kong

    Fintech / Regtech

    Hong Kong Gets First API Exchange Platform in Open Banking Push

    By Manesh Samtani | 17/01/2019

    JETCO launches the city’s first Open API exchange; New Accenture survey indicates willingness of Hong Kong consumers to share personal financial information with third parties.

    Crypto / Digital Assets

    Hong Kong, Luxembourg Sign Mutual Recognition of Funds Agreement

    By Editors | 16/01/2019

    Eligible general equity, bond or mixed funds authorised by the SFC can seek authorisation to be marketed to retail investors in Luxembourg.

    Capital / Liquidity

    HKMA Banking Securitisation Code Takes Effect

    By Editors | 14/01/2019

    The Code provides guidance on the qualifying conditions to use the internal assessment approach for calculating the capital requirement for certain securitisation exposures.

    Capital / Liquidity

    SFC Fines FWD Life for Noncompliance with Key Personnel Requirements

    By Editors | 09/01/2019

    FWD Life also failed to maintain satisfactory internal controls and written compliance procedures as required under the SFC Code on MPF Products and the Fund Manager Code of Conduct.

    Market Infrastructure

    Hong Kong Lawmakers Push for Consumer Data Protections – Report

    By Editors | 08/01/2019

    Lawmakers are pushing for greater oversight of credit reference agencies following the discovery of security loopholes in TransUnion’s online service for credit reports.

    Securities / Derivatives

    Hong Kong SFC Launches New Online Submission Portal

    By Editors | 07/01/2019

    All functions and submission services available on the existing SFC Online Portal will be migrated to the new platform in phases.

    Market Infrastructure

    SFC Fund Manager Code of Conduct – Five Important Next Steps

    By Derek McGibney | 04/01/2019

    Derek McGibney at ACA Compliance Group lays out the activities investment firms should be undertaking to ensure ongoing compliance with the FMCC.

    Securities / Derivatives

    HKEX Loosens Requirements to Participate in ETP Market Making

    By Editors | 03/01/2019

    HKEX has loosened the eligibility criteria and created a more flexible structure to allow global liquidity providers to provide market making for Hong Kong exchange-traded products.

    AML / KYC

    JPMorgan Hong Kong Fined for Inadequate AML/CTF Controls

    By Editors | 30/12/2018

    An HKMA investigation found that JPMorgan Hong Kong failed to establish and maintain effective controls for handling wire transfers, conducting CDD and monitoring business relationships.

    Enforcement

    Hong Kong Asset Manager Fined for Wash Trading

    By Editors | 28/12/2018

    The asset management firm was both the buyer and seller in a transaction between two of its brokers, which the SFC deemed was a wash trade.

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