Hong Kong

Market Infrastructure

China Issues Draft Rules for Depository Receipt Issuance

By Manesh Samtani | 07/05/2018

Rules include requirements related to investor protection, information disclosures; Shanghai-London Stock Connect to allow cross listings of depository receipts.

Securities / Derivatives

SFC Issues New Rules on Instant Message Trade Orders

By JP Reimann | 07/05/2018

Regulator requires two years of full records, client authentication and validation, a written contingency plan and compliance reviews for instant messaging use.

AML / KYC

Hong Kong Money Laundering – The River Runs Through It

By Peter Guy | 07/05/2018

While Hong Kong struggles to reduce and contain money laundering activities at existing financial institutions, the role of cryptocurrencies in undermining compliance and enforcement capabilities is overlooked.

AML / KYC

Hong Kong Publishes First AML/CTF Risk Assessment

By Manesh Samtani | 02/05/2018

Hong Kong exposed to medium-high level of money laundering risk; ability to combat money laundering also assessed as medium-high.

Big Picture

Moody’s Places HK Banks on Review for Upgrade

By Editors | 01/05/2018

Hong Kong legislation enables authorities to achieve orderly resolution in the event of a bank failure and provides clarity on the effect on depositors and other creditors.

Market Infrastructure

Japanese Banks Respond to HK OTC Derivatives Consultation

By Garima Chitkara | 30/04/2018

Japanese banking association asks for 6-12 months grace for implementing LEI requirements; urges for increased incentives to encourage smaller firms to obtain LEIs.

Securities / Derivatives

SFC to More Than Triple Investor Compensation Limit

By JP Reimann | 30/04/2018

Proposals include raising compensation limit to HKD500,000 per investor, covering Stock Connect northbound trading; raising trigger for reinstating transaction levy to fund compensation.

Australia, HK Suffer Lack of Trust in Financial Services – Report

By Manesh Samtani | 27/04/2018

CFA Institute survey finds as little as 31% of investors in Australia and 35% in Hong Kong trust the financial services industry.

Market Infrastructure

HKEX Appoints Laura Cha as Chairman

By Editors | 27/04/2018

Industry veteran Laura Cha is first female chairman for a two-year term, subject to approval by chief executive Carrie Lam.