Hong Kong

Securities / Derivatives

SFC Extends Compliance Deadline for New Rules on Complex Products

By Editors | 20/03/2019

The SFC has extended the deadline for compliance with new rules requiring firms to ensure client suitability when selling complex products by two months.

Enforcement

SFC Fines BOCI Securities for ‘Systemic Deficiencies’ in Selling Practices

By Editors | 19/03/2019

BOCI Securities failed to comply with requirements relating to client profiling, product due diligence, and suitability assessment in its sale and distribution of investment products.

Enforcement

SFC Fines UBS and Others HK$787mn for IPO Sponsor Failures

By Manesh Samtani | 15/03/2019

“The sanctions send a strong and clear message to the market that we will not hesitate to hold errant sponsors accountable for their misconduct,” said SFC chief Ashley Alder.

Market Infrastructure

Exactpro Delivers Test Strategy for HKEX’s New Post Trade System

By Editors | 13/03/2019

QA services provider Exactpro has completed a review of the testing processes and delivered a set of test strategy recommendations for Phase 1 of HKEX’s NextGen Post Trade Programme.

Enforcement

UBS, StanChart to Settle Hong Kong IPO Misconduct Case

By Editors | 12/03/2019

The case goes back to the 2009 listing of a Chinese timber company, which was later suspended for accounting irregularities. Details of the settlement will be released at a later date.

Securities / Derivatives

HKEX to Launch China A-Share Futures Contract

By Editors | 12/03/2019

The development represents a key risk management tool for international investors who need to manage their A-share equity exposure, says HKEX chief Charles Li.

Market Infrastructure

HKMA Asks Hong Kong Banks to Prepare for Benchmark Reform

By Editors | 06/03/2019

The HKMA says the transition to alternative reference rates will have significant implications for authorised institutions’ businesses, risk management and operational processes.

Market Infrastructure

HKEX Three Year Plan Lays Out Global Ambitions

By Manesh Samtani | 01/03/2019

HKEX plans to introduce A-share futures, expand the stock and bond connect schemes, enable remote market access for Asia Pacific brokers, and modernise its operations.

Enforcement

Hong Kong Court Dismisses Short Seller’s Trading Ban Appeal

By Editors | 28/02/2019

The Court dismissed an appeal from short seller Andrew Left to overturn a 2016 ruling banning him from trading in Hong Kong for five years after he published a report containing false information.