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Hong Kong
HKMA Identifies Compliance Issues at Banks’ Trust Businesses
By Sanday Chongo Kabange | 08/07/2024
No instances of non-compliance were found in self-assessments, though there were 12 instances of “partial compliance”.
Capital / Liquidity
SFC Issues Reminder on Financial Resources Adequacy Monitoring
By Sanday Chongo Kabange | 05/07/2024
The SFC issued the reminder after it found undesirable practices and internal control deficiencies leading to breaches of the liquid capital requirement.
Enforcement
Hong Kong Hedge Fund Manager To Disgorge False Trading Profit
By Sanday Chongo Kabange | 05/07/2024
The MMT has ordered a hedge fund manager to disgorge HK$ 5.6 million illicit profit and disqualified him for four years.
Market Infrastructure
HK Presses Ahead with New Company Re-domiciliation Regime
By Sanday Chongo Kabange | 04/07/2024
The FSTB is drafting legislation that will make it easier for foreign companies to re-domicile to Hong Kong.
Market Infrastructure
Hong Kong’s New RBC Regime for Insurers Commences
By Sanday Chongo Kabange | 03/07/2024
The introduction of the RBC regime will strengthen the financial soundness of insurers and enhance protection for policy holders.
Market Infrastructure
HSBC Completes Pilot Trial of Cross-Boundary Credit Referencing
By Sanday Chongo Kabange | 03/07/2024
HSBC is one of the first banks to successfully participate in the newly-launched cross-boundary credit referencing initiative led by the HKMA and the PBOC.
Market Infrastructure
Hong Kong AFRC Sets Expectations for PIE Auditors
By Sanday Chongo Kabange | 03/07/2024
The AFRC has reminded PIE auditors to be prepared for undertaking PIE engagements as gatekeepers for the capital market.
ESG / Sustainability
Hong Kong Launches Green FinTech Support Scheme
By Manesh Samtani | 02/07/2024
The scheme aims to provide early-stage funding for green fintechs and ultimately improve sustainability reporting in Hong Kong.
Securities / Derivatives
HKEX Proposes to Reduce Tick Sizes in Securities Market
By Editors | 02/07/2024
HKEX says the proposal will lower overall transaction costs, improve price discovery and boost liquidity.
SFC Streamlines Approvals for ILAS Marketing Materials
By Sanday Chongo Kabange | 01/07/2024
Approval will no longer be required for “immaterial changes” to ILAS marketing materials that are already authorised by the SFC.
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