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Securities / Derivatives
Hong Kong Launches Grant Scheme to Lure OFCs, REITs
By Editors | 10/05/2021
OFCs and REITs that set up in Hong Kong can secure funding to cover 70% of eligible expenses paid to Hong Kong-based service providers.
AML / KYC
Chinese Regulators Issues Draft Rules for Wealth Connect Scheme
By Manesh Samtani | 09/05/2021
A 150bn yuan ceiling is proposed as the trading quota for the new scheme, with a 1mn yuan individual limit. A launch date has not yet been set.
Securities / Derivatives
HK Insurance Authority Unveils Details of ILS Grant Scheme
By Editors | 07/05/2021
Onshore and offshore sponsors of insurance-linked securities are eligible for the grant scheme, capped at HK$12mn per issuance.
Securities / Derivatives
SFC May Have Doubts About Allowing SPAC Listings – Report
By Sanday Chongo Kabange | 06/05/2021
HKEX is preparing to consult the market by end-June at the earliest. However, market participants believe the odds are low that SPACs will be allowed in Hong Kong.
Enforcement
HKEX Proceeds to Delist Shares of Convoy Global Holdings
By Sanday Chongo Kabange | 06/05/2021
HKEX says its Listing Review Committee has upheld the May 2020 decision to cancel the listing of Convoy Global Holdings.
Securities / Derivatives
HKEX to Lessen Profit Requirement Hike for Main Board IPOs
By Manesh Samtani | 05/05/2021
The three-year profit requirement will be raised from HK$50mn to HK$80mn, compared to the HK$125mn or HK$150mn options proposed in November.
Enforcement
HKMA Adjusts Scope of Mandatory Reference Checking Regime
By Manesh Samtani | 05/05/2021
The HKMA has adjusted the scope of the regime, shortened the record retention requirement, and lengthened the time allowed to respond to an MRC request.
ESG / Sustainability
HKMA Issues Guideline on Green & Sustainable Finance Grant Scheme
By Editors | 05/05/2021
The grant amount for each bond issue will be half of the eligible expenses, capped at HK$2.5mn for rated bonds and HK$1.25mn for unrated bonds.
AML / KYC
Australia Scraps Plan to Introduce Beneficial Ownership Register
By Ranamita Chakraborty | 30/04/2021
Senator Jane Hume reportedly refused to back the register, a move experts say will entrench Australia as a money laundering haven.
Enforcement
SFC Set to Deploy Data Analytics in Broker Inspections
By Manesh Samtani | 29/04/2021
High volume brokers were asked in 2019 to adopt new data standards to enable more timely data submissions to regulators when requested.
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