Hong Kong

Enforcement

Five HK Bankers Charged for Misusing Customer Data to Sell Loans

By Editors | 27/01/2021

Former DBS staffers accepted illegal commissions to obtain confidential customer data for use by sales staff in promoting personal loan business.

HKMC, MUFG Agree to Cooperate on Infrastructure Financing

By Editors | 26/01/2021

The MoU sets out terms for potential infrastructure loan sales by MUFG to the HKMC, as part of efforts to consolidate Hong Kong’s position as an infrastructure financing hub.

Securities / Derivatives

Higher Profit Requirement for IPOs Will Hurt Hong Kong

By Manesh Samtani | 25/01/2021

Consultation responses suggest that HKEX’s proposal to raise the profit requirement for Main Board listing IPOs will drastically reduce its competitiveness.

Market Infrastructure

Stock Connect to Include STAR Market Stocks from 1 February

By Editors | 24/01/2021

The corresponding H-shares will also be included in Southbound trading of Stock Connect, in addition to H-shares with corresponding A-shares listed in Shenzhen.

AML / KYC

Hong Kong ICAC Charges Another in DBS L/C Fraud Case

By Editors | 23/01/2021

The construction company director conspired with other individuals to defraud DBS into issuing $75.3mn in L/Cs that had no genuine underlying transactions.

AML / KYC

HKMA Publishes Cases Studies on AML/CFT Regtech Adoption

By Manesh Samtani | 21/01/2021

New report details case studies and insights from banks that have implemented technologies to enhance the efficiency and effectiveness of their AML/CFT efforts.

Securities / Derivatives

HKEX to Launch New Mini USD/CNH Futures Contract

By Editors | 21/01/2021

The new contract will cater to participants who prefer cash settlement and smaller contract sizes, such as medium-sized corporates and individuals.

Securities / Derivatives

Hong Kong, Thailand Agree Mutual Recognition of Funds

By Editors | 20/01/2021

Each Hong Kong or Thai fund approved under the MRF scheme will have to appoint a firm in the other market to serve as its representative.

AML / KYC

HK Police Arrest Bank Staff for Money Laundering – Report

By Editors | 20/01/2021

The 7 individuals arrested are said to have helped a member of an international money laundering syndicate open at least 14 bank accounts.