Hong Kong

Securities / Derivatives

HKFE Offers Cash to Market Makers in Mini Metals Futures

By Editors | 01/04/2020

A HKD 30,000 cash stipend is offered per contract per month per trading session upon fulfillment of quoting obligations in aluminium, zinc, copper and nickel mini futures contracts.

Enforcement

SFC Bans Former China Rise CEO for Naked Short Selling

By Editors | 01/04/2020

The ex-CEO was banned for 28 months for placing – and concealing – uncovered short selling orders through his personal account and a client’s discretionary account in 2014.

Securities / Derivatives

SFC Extends Deadlines on Three Regulatory Initiatives

By Editors | 31/03/2020

The deferred initiatives relate to new requirements on external data storage, client asset protection, and brokers’ systems for maintaining order life cycle data.

Market Infrastructure

Xiaomi-backed Virtual Bank Launches Hong Kong Pilot

By Editors | 31/03/2020

The pilot will allow 2,000 friends and relatives of Airstar, Xiaomi and AMTD Group employees to trial new virtual banking services under the HKMA’s sandbox.

Capital / Liquidity

HKMA Defers Basel III, Reviews ECL Provisioning Expectations

By Editors | 30/03/2020

Aside from deferring Basel III adoption, the HKMA is considering the implications of Covid-19 on the application of expected credit loss provisioning.

Market Infrastructure

A New Structure for Private Equity Funds in Hong Kong

By Su Cheen Chuah | 28/03/2020

The Limited Partnership Fund Bill will be seen by PE industry stakeholders as a positive step towards bringing Hong Kong’s active PE market onshore, says international law firm Deacons.

Securities / Derivatives

Hong Kong to Update List of FSPs Under Clearing Obligation

By Editors | 27/03/2020

Eight additional entities are proposed to be included on the list of Financial Services Providers under the OTC derivatives clearing regime.

Securities / Derivatives

SFC Steps Up Scrutiny of Fund Industry Amid Recent Volatility

By Editors | 27/03/2020

The SFC reminds managers, trustees, custodians and intermediaries of funds to look out for clients interests amid “unprecedented volatility across asset classes”.

ZA Bank Announces Launch as Hong Kong’s First Virtual Bank

By Editors | 25/03/2020

ZA Bank – backed by mainland insurer ZhongAn Online P&C Insurance and Sinolink Group – won one of the first approvals to set up a virtual bank in March last year.