Hong Kong

AML / KYC

SFC Updates AML/CFT Guideline as FATF Assessment Looms

By JP Reimann | 06/07/2018

Proposals include streamlining of customer onboarding processes and a requirement to implement group-wide AML/CFT systems at overseas branches and subsidiaries.

Market Infrastructure

Bond Connect to Get Regulatory Boost from PBOC

By Garima Chitkara | 05/07/2018

PBOC will introduce same day delivery versus payment, block trading and a simpler tax regime for foreign investors; ten additional market makers also added to Bond Connect scheme, including JP Morgan, BAML and Mizuho Bank.

Market Infrastructure

Hong Kong Updates Counterparty Credit Risk Management Framework

By Garima Chitkara | 05/07/2018

The HKMA has revised its counterparty credit risk management regulation to incorporate international regulations; expanding its supervisory coverage to include CVA and central clearing

Securities / Derivatives

SFC Imposes Enhanced Reporting Obligations on Authorised Funds

By Manesh Samtani | 04/07/2018

Enhanced reporting obligations to include data on liquidity profiles, subscription and redemption amounts, asset allocation, and securities financing/borrowing transactions.

Securities / Derivatives

Mainland Investors Gain Access to HK Stock Research

By Manesh Samtani | 04/07/2018

New rules enable better access to research reports and advice on HK-listed stocks, and opportunities for HK securities firms to distribute their research through mainland firms.

Securities / Derivatives

HK Exchange Tightens Rules on Backdoor Listings, Shell Activities

By Manesh Samtani | 04/07/2018

Hong Kong stock exchange proposes tightening reverse takeover rules and continuing listing criteria to address concerns about backdoor listings through shell companies by firms that may not otherwise qualify.

Market Infrastructure

Hong Kong SFC Releases 2017-18 Annual Report

By Manesh Samtani | 02/07/2018

Highlights for the year include progress on MIC regime, guidance on online trading platforms, and regulatory collaboration with other agencies.

Securities / Derivatives

Hong Kong Finalises OTC Derivatives Framework

By Garima Chitkara | 28/06/2018

HKMA and SFC published conclusions from their March 2018 consultation on LEI requirements, reporting norms and platform trading.

AML / KYC

Non-EU Markets Regulators Seek Formal GDPR Exemptions – Report

By Manesh Samtani | 28/06/2018

New EU data privacy law could put cross-border investigations in jeopardy, leading non-EU regulators including Japan’s FSA and Hong Kong’s SFC to press for formal clarification on application of cross-border information sharing exemptions.