Hong Kong

Market Infrastructure

FSTB to Introduce ‘Corporate Rescue’ Bill for LegCo Deliberation

By Sanday Chongo Kabange | 21/10/2020

The FSTB also plans to introduce bills to provide targeted tax relief for private equity funds, enable a paperless securities market in Hong Kong, and progress work on the new eMPF platform.

AML / KYC

Hong Kong Banks Asked to File STRs for Suspected NSL Breaches

By Manesh Samtani | 20/10/2020

According to updated HKMA guidance, suspected breaches of the national security law should be treated the same as AML/CFT violations and be reported to the JFIU as STRs.

Enforcement

SFC Imposes 24-month Market Ban for Takeovers Code Breach

By Sanday Chongo Kabange | 20/10/2020

The mandatory general offer obligation under the Takeovers Code was triggered 20 times by AV Concept Holdings chairman and his concert parties.

Securities / Derivatives

CSRC Green-lights Ant Group Hong Kong Stock Listing

By Editors | 19/10/2020

The approval follows reports that a probe into a potential conflict of interest in the planned $35bn stock listing threatened to delay the IPO.

Enforcement

Hong Kong: CMBC Capital, Directors Penalised for Late Disclosure

By Editors | 18/10/2020

CMBC Capital did not make information about significant improvement in the company’s financial performance public in a timely manner.

Market Infrastructure

HKMA Expects Adherence to ISDA IBOR Fallbacks Protocol

By Editors | 18/10/2020

The HKMA expects authorised institutions to adhere to the Protocol before it takes effect and to encourage counterparties to do the same.

AML / KYC

HKAA Sanctions Mark Formal Warning to Global Banks

By Manesh Samtani | 15/10/2020

International financial institutions conducting ‘significant transactions’ with the ten sanctioned individuals could face secondary sanctions.

Securities / Derivatives

HKFE Obtains CFTC Certification for Non-USD MSCI Contracts

By Editors | 15/10/2020

The Hong Kong Futures Exchange has received CFTC certification for its SGD Singapore futures contract and two JPY Japan contracts.

Securities / Derivatives

HKIFA Warns Against Changing UCITS Delegation Model – Report

By Editors | 15/10/2020

HKIFA chief Sally Wong reportedly said a move to restrict the delegation model could prompt capital to flow away from the European fund industry.