Hong Kong

AML / KYC

China Imposes Reciprocal Sanctions Against US Officials

By Editors | 10/08/2020

“China has decided to impose sanctions on those individuals who behaved badly on Hong Kong-related issues,” said a spokesperson, without specifying what the sanctions would entail.

Fintech / Regtech

InvestHK Announced Fast Track Fintech Development Programme

By Editors | 10/08/2020

Companies from nine key fintech verticals are invited to submit applications by 31 August, for a chance to showcase their solutions to corporates and investors at Hong Kong Fintech Week.

Market Infrastructure

Hong Kong FSDC Proposes to Allow Tax Offsets Within Group Structures

By Sanday Chongo Kabange | 10/08/2020

The proposed reforms would allow financial services groups operating in Hong Kong to offset the profits of one group company against losses in another.

Securities / Derivatives

HKMA Warns of Risks in Leveraged Investment Products

By Editors | 09/08/2020

Banks should take into account Covid-19 in product due diligence and client suitability assessments, and exercise caution when dealing in leveraged products.

Enforcement

HK Bourse Seeks Broader Powers to Punish Misconduct

By Editors | 09/08/2020

Hong Kong’s stock exchange proposes to enhance its disciplinary regime to enhance its ability to hold accountable and sanction senior managers and directors responsible for misconduct.

AML / KYC

US Sanctions 11 Chinese, Hong Kong Officials

By Manesh Samtani | 08/08/2020

The HKMA says unilateral sanctions imposed by foreign governments have “no legal status” in Hong Kong and banks should endeavour to treat customers fairly.

AML / KYC

HKMA, IA Issue Guidance on Video Distribution of Insurance Products

By Editors | 07/08/2020

Insurers and intermediaries such as banks have to apply to enter the InsurTech Sandbox to test the use of video conferencing to distribute long term insurance policies.

Market Infrastructure

HKMA Defers Trade Facility Repayments by a Further 90 Days

By Editors | 05/08/2020

Banks have agreed to allow corporate customers who still face cash-flow pressures to further extend their trade facilities for a further 90 days, on top of the 90 days granted from May.

Market Infrastructure

Japan Amends Rules to Lure Hong Kong Fund Managers

By Sanday Chongo Kabange | 05/08/2020

A Cabinet level amendment will allow overseas investment funds and securities operators to temporarily operate from Japan.