Hong Kong

Capital / Liquidity

HKMA Cuts CCyB in Response to Worsening Economic Conditions

By Editors | 15/10/2019

The first CCyB cut since 2015, the move is expected to free up between HKD 200-300 billion in the financial system and make it easier for banks to lend to SMEs.

AML / KYC

Stock Connect to Launch Southbound Investor ID Regime “Soon”

By Editors | 12/10/2019

The launch of the investor identification regime for southbound trading will mark the first time mainland investors will have their personal information shared with Hong Kong’s regulator.

AML / KYC

Fighting Financial Crime: HSBC Unveils New AML Tool

By CorporateTreasurer | 10/10/2019

The tool, which was deployed in the UK and Hong Kong on August 30, will be rolled out in a further 39 markets through 2020.

Securities / Derivatives

UPDATED – SFC to Raise Investor Compensation Limit

By Editors | 09/10/2019

Respondents to an April 2018 consultation strongly supported an increase in the compensation limit, among other proposals, which the SFC expects to implement in early 2020.

Securities / Derivatives

HKEX Closing Auction Expands to All Equities, Funds

By Editors | 09/10/2019

The move will help improve trading liquidity at close, simplify trading operations for market participants, and standardise closing times for equities.

Fintech / Regtech

MPFA to Complete eMPF Platform Bidding Process by Year-End

By Editors | 09/10/2019

Hong Kong’s MPF System relies on cheque settlement, manual handling and paper transactions. The MPFA aims to launch a new ‘eMPF Platform’ in 2022.

Market Infrastructure

HKEX Abandons Pursuit of London Stock Exchange Merger

By Editors | 08/10/2019

HKEX says the merger is still strategically compelling but it has not been able to engage with LSEG’s management in realising its vision.

Crypto / Digital Assets

SFC Details Rules for Virtual Asset Fund Managers

By Manesh Samtani | 07/10/2019

The SFC has published new requirements for virtual asset fund managers, relating to capital, best execution, liquidity and custody, among other areas.

Enforcement

SFC Fines SEAVI Advent Ocean Private Equity HK$1mn

By Editors | 07/10/2019

The SFC has reprimanded and fined SEAVI Advent Ocean Private Equity for allowing unlicensed individuals to perform regulated functions, in breach of the Code of Conduct.