Hong Kong

Enforcement

CLSA, CITIC Securities Censured for Breaching Share Buyback Rules

By Editors | 02/01/2020

CLSA and CITIC Securities carried out pre-arranged trades on the SEHK to allow Beijing Enterprises Holdings to buyback its shares without regulatory or shareholder approval.

Enforcement

SFC Fines Fidelity Unit for Unlicensed Futures Dealing

By Editors | 31/12/2019

FIL Investment Management executed over 6,700 futures trades for overseas affiliates without a Type 2 licence, and delayed reporting the breach to the SFC.

Capital / Liquidity

HKMA D-SIBs List Unchanged, HLA Requirement Adjusted for Two Banks

By Editors | 28/12/2019

Compared with the December 2018 list, the HLA requirement has increased for Standard Chartered and decreased for Hang Seng Bank.

Fintech / Regtech

HKMA Publishes Highlights from First AML/CFT RegTech Forum

By Manesh Samtani | 27/12/2019

Access to quality data and a more proactive knowledge sharing approach are critical to moving to intelligence-led methods in financial crime risk management.

Securities / Derivatives

HKEX to Shorten IPO Settlement to Single Day

By Editors | 25/12/2019

HKEX hopes to shorten Hong Kong’s five-day IPO settlement process to just one day by end-2020.

Fintech / Regtech

HKMA Publishes Report on AI Adoption by Hong Kong Banks

By Manesh Samtani | 24/12/2019

The lack of employees with AI expertise was cited by 70% of respondents as the top barrier to AI adoption, according to a survey.

Enforcement

SFC Fines Adamas Asset Management for Disclosure Failings

By Editors | 24/12/2019

The asset manager was fined HK$2.5mn for filing 339 incorrect or late notifiable interest disclosures to the SEHK and eight listed companies.

AML / KYC

SFC Proposes Enhancements to OFC Regime

By Editors | 23/12/2019

The changes include a mechanism for overseas corporate funds looking to re-domicile in Hong Kong. OFCs will also have to keep a register of beneficial shareholders.

AML / KYC

SFC, CSRC Set Date for Southbound Investor Identification Regime

By Editors | 20/12/2019

With technical preparations now complete at exchanges and clearinghouses, southbound trading investor identification regime is scheduled for implementation on 13 January.