Hong Kong

AML / KYC

SFC Sets Out Expectations on Managing BEC Risk

By Manesh Samtani | 24/03/2022

Most successful business email compromise frauds occurred because LCs did not check or verify the identities of email senders or they ignored red flags.

ESG / Sustainability

HKEX, CEEX to Cooperate on GBA Carbon Market Initiatives

By Editors | 24/03/2022

HKEX and Guangzhou-based China Emissions Exchange will jointly explore the development of a voluntary carbon emission reduction programme in the GBA.

ESG / Sustainability

HKEX Lists Hong Kong’s First Carbon Futures ETF

By Editors | 23/03/2022

The ETF, managed by CICC’s Hong Kong asset management unit, tracks the performance of a long-only basket of European Union Allowance futures contracts.

Enforcement

HK Police Arrest 38 Individuals for Covid Loan Fraud

By Editors | 23/03/2022

The individuals set up 53 shell companies and submitted false documents to banks to obtain loans under the government support scheme for Covid hit businesses.

Securities / Derivatives

HKEX to Introduce New Features to Market Access Platform

By Editors | 22/03/2022

HKEX will increase the precision of time-stamping and introduce an indicator identifying aggressive vs passive orders.

Sanctions

State Street to Be Dismissed as Manager of HK Tracker Fund

By Editors | 21/03/2022

Hong Kong’s government commenced a review last year to assess State Street’s role as the manager of TraHK, the city’s largest and most-popular ETF.

Securities / Derivatives

Chinese Policymakers Pledge Measures to Reassure Markets

By Darien Choong | 19/03/2022

Vice-Premier Liu He said that the FSDC will propose “strong and effective responsive initiatives” to manage any risks which may endanger the financial system.

Enforcement

HKEX Censures Six Directors Over “Unchecked Spending Spree”

By Sanday Chongo Kabange | 19/03/2022

The investment holding company spent over HK$60mn of company money to acquire luxury assets including a HK$24.5mn yacht, a HK$20mn diamond, seven cars, and 57 paintings.

Securities / Derivatives

Hong Kong’s First SPAC Listing Debuts on HKEX Main Board

By Sanday Chongo Kabange | 18/03/2022

Aquila Acquisition Corporation was the first SPAC in Hong Kong to win approval from HKEX for a listing since the city’s SPAC listing regime was introduced.