Hong Kong

Enforcement

SFC Declines to Take Action Against HSBC for No-dividend Decision

By Editors | 15/05/2020

Some investors in HSBC alleged the bank failed to safeguard their interests. Others questioned whether the bank’s discussions with the Bank of England were disclosed in a timely manner.

Market Infrastructure

China Issues Guidelines on Greater Bay Opening Up

By Editors | 15/05/2020

The PBOC will pilot cross-border PE and VC investments and explore the establishment of a futures exchange in Guangzhou and an international commercial bank to serve Greater Bay Area.

ESG / Sustainability

Hong Kong Launches New Certification Scheme for ESG Funds

By Editors | 14/05/2020

The new green finance certification scheme for ESG funds is an extension of the HKQAA’s certification service for green funds, launched in September 2019.

Market Infrastructure

HKMA Launches ‘Greenness’ Assessment Framework

By Editors | 13/05/2020

Around 50 AIs will initially be expected to complete the assessment for end-2019 within 12 weeks. Other AIs are encouraged to reflect on their readiness to address climate and environmental risks.

Capital / Liquidity

HKMA Support Measures and the Impact to the Banking Industry

By Pierre Latrobe | 12/05/2020

Pierre Latrobe at Mazars discusses recent HKMA initiatives taken in response to Covid-19 and their implications for Hong Kong banks, highlighting credit risk as a growing threat.

Enforcement

Hong Kong: Investors Seek Compensation for Failed IPOs – Report

By Editors | 11/05/2020

The SFC has issued almost HK$1bn in penalties for IPO sponsor failures over 20 years. These proceeds have gone to the government, not investors.

Market Infrastructure

HKMA Proposes Mandatory Reference Checks to Stop Rolling Bad Apples

By Manesh Samtani | 08/05/2020

Under the scheme, prospective employees would be required to disclose employment records to recruiting AIs before a new employment relationship is established.

Securities / Derivatives

Charles Li to Step Down as HKEX Chief Executive Next Year

By Editors | 07/05/2020

Charles Li has been chief executive for over 10 years, and is credited with the launch of Stock Connect, Bond Connect, HKEX’s new listing regime and its dual class share system.

Securities / Derivatives

SFC Defers IM Rules, Maintains 1 September for VM Requirements

By Editors | 07/05/2020

While variation margin requirements will still take effect from 1 September 2020 as planned, initial margin requirements for non-centrally cleared OTC derivatives will be deferred by one year.