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Capital / Liquidity
HKMA Rules on Bank Exposure Limits to Take Effect From 1 July
By Editors | 25/06/2019
Under the rules, authorised institutions are subject to a statutory limit of 25% of capital on financial exposure to any one person or group of related persons.
Securities / Derivatives
Stock Connect Investors Gain Access to Onshore Yuan Rates
By Editors | 24/06/2019
Under the new arrangement, northbound Stock Connect investors will be able to hedge yuan exposures using the onshore exchange rate for the first time.
AML / KYC
Hong Kong AML/CFT Regime Under FATF Spotlight
By Ralph Cunningham | 24/06/2019
The report on the APG-FATF joint assessment is expected to be published in September, and show that Hong Kong still has some work to do.
Market Infrastructure
ASIFMA Standardises Underwriter Documentation for Hong Kong IPOs
By Manesh Samtani | 24/06/2019
The initiative will promote efficiency and reduce costs and legal risks by offering standardised forms for agreements among underwriters and between underwriting syndicates.
Enforcement
Hong Kong SFC Releases 2018-19 Annual Report
By Editors | 24/06/2019
The SFC is working to introduce an investor identification regime for southbound Stock Connect trading in mid-2019, and considering adopting a market-wide circuit breaker mechanism.
Enforcement
Shanghai Court Jails Former UBS Banker for Insider Trading
By Editors | 24/06/2019
The banker disclosed deal information to two associates in 2017, allowing them to profit from inside information related to Cosco Shipping’s acquisition of Orient Overseas.
Enforcement
SFC Fines Credit Suisse $2.8m over Research Reports
By Editors | 20/06/2019
Credit Suisse has been fined $2.8m for failing to disclose investment banking relationships and market making activities in research reports on Hong Kong-listed securities.
Fintech / Regtech
HSBC Scraps Fees Ahead of Virtual Bank Launches
By Manesh Samtani | 20/06/2019
HSBC will remove below-balance, counter transaction and annual fees for most personal savings accounts as it braces for incoming competition from newly approved virtual banks.
Securities / Derivatives
Complex Group Arrangements Compound Margin Financing Risks: SFC
By Manesh Samtani | 19/06/2019
Deputy chief Julia Leung says the SFC is concerned that brokers are using complex trading arrangements to circumvent regulatory oversight, among other supervisory priorities.
Securities / Derivatives
HKEX Announces Launch of First Active ETF
By Editors | 19/06/2019
The introduction of active ETFs in Hong Kong is another step towards HKEX’s goal of becoming a hub for the issuance and trading of ETFs.
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