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Market Infrastructure
Hong Kong Rejects Japan-style Embrace of Cryptocurrencies
By Editors | 11/12/2017
Government official says Hong Kong will continue to regard cryptocurrencies as commodities, won’t legitimise through regulation.
AML / KYC
EU Blacklists S.Korea, Macau Tax Regimes; HK on ‘Greylist’
By Garima Chitkara | 07/12/2017
HK on ‘greylist’; Macau, S.Korea, on blacklist with the latter said to operate a ‘harmful preferential tax regime’ for the wealthy, companies.
AML / KYC
HK SFC Sees Criminal Charges Surge
By Editors | 07/12/2017
Securities regulator laid 42 charges in 6 months to end-September this year, up 180% from same period in 2016, but commenced far fewer investigations.
AML / KYC
HK SFC, CSRC Agree Investor ID System for Northbound Stock Connect
By Editors | 04/12/2017
SFC says Northbound scheme will be followed by Southbound investor identification, eventually spread to all SEHK investors.
Securities / Derivatives
Stock Exchange Reality: Profit Versus Regulations
By Peter Guy | 27/11/2017
HKEX and SFC recently decided to admit dual class share listings, but reject a start-up board. Their decisions will change key regulatory principles.
Enforcement
HK Regulators Warn on Conflicts of Interest in Product Sales
By Editors | 27/11/2017
HKMA, SFC say some intermediaries aren’t revealing related counterparties, not executing at best price, hide cheaper products.
HKMA Chief Urges Hong Kong Companies to Improve Corporate Governance
By Garima Chitkara | 23/11/2017
Hong Kong financial companies need further improvements to guard against risky behaviour.
Enforcement
HSBC Private Bank Fined $50mn for Crisis-era Product Mis-selling
By Editors | 23/11/2017
Securities and Futures Appeals Tribunal says future fines will be similarly large and exceed ‘mere cost of doing business’.
AML / KYC
The Challenges for Offshore Banks Onboarding China’s HNWIs
By Appway | 20/11/2017
Digital onboarding can help banks provide a superior customer experience, guarantee AML compliance and improve internal efficiency.
AML / KYC
Hong Kong to Continue to Allow Mutual Fund Sales Commissions
By Editors | 20/11/2017
Securities and Futures Commission says Hong Kong is not ready to ban commissions and introduce a pay for advice model.
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