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Enforcement
ICAC Charges Ex-HKEX Official for Bribery, Misconduct
By Editors | 25/03/2020
A former joint-head of HKEX’s IPO Vetting Team has been charged over HK$9.15mn in bribes and misconduct in public office between June 2017 and April 2019.
Enforcement
SFC Imposes Lifetime Ban on Former China Pacific Securities Broker
By Editors | 24/03/2020
The former broker was convicted and jailed in December 2018 for stealing over HK$110mn in shares from China Pacific’s clients over a seven-year period.
Market Infrastructure
Hong Kong Introduces Legislation to Enhance Regulatory Framework for Insurers
By Editors | 23/03/2020
The bills provide a regulatory regime for insurance-linked securities, expand the scope of insurable risks of captive insurers, and empower the IA to regulate insurers at the group level.
Capital / Liquidity
HK, Singapore, Indonesia Assessed as NSFR, LEX Compliant
By Editors | 22/03/2020
Hong Kong, Singapore and Indonesia were assessed as compliant with global standards for the net stable funding ratio and large exposures framework.
Securities / Derivatives
HKEX to Introduce Master SPSA Service for Fund Managers
By Editors | 18/03/2020
The new service allows pre-trade checking of China A shares for northbound trading at the fund manager level rather than at the individual fund level.
Securities / Derivatives
Hong Kong to Allow 60 Days Grace for Publishing Annual Reports
By Editors | 16/03/2020
Listed issuers may defer annual report publication for 60 days if they have published their preliminary results, management accounts or specified material financial information before 31 March.
Capital / Liquidity
HKMA Responds to Fed Rate Cut, Reduces CCyB
By Editors | 16/03/2020
The base rate is being adjusted downwards to 0.86%, while the countercyclical capital buffer is being reduced from 2.0% to 1.0% to bolster lending.
Enforcement
SFC Considers Easing Data Storage Rules – Report
By Editors | 11/03/2020
Industry bodies are reportedly working with the SFC to clarify the rules and make compliance easier, though it is unclear what specific steps it will take to ease the requirements.
Fintech / Regtech
Outsourcing Requirements for Hong Kong Banks: An Overview
By Philip Keller | 10/03/2020
Industry veteran Philip Keller outlines outsourcing requirements for banks in Hong Kong, with a focus on data, a major area of concern in relation to outsourced activities.
Market Infrastructure
Standard Chartered-backed Virtual Bank to Launch Later This Year
By Editors | 09/03/2020
Standard Chartered, PCCW, HKT and Trip.com will launch ‘Mox Bank’ later this year, introducing an all-in-one numberless bank card.
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