Hong Kong

AML / KYC

SFC Clarifies Broker Requirements

By Samuel Riding | 03/10/2016

Clarification follows unusual step of public warning on internal AML controls.

Market Infrastructure

HKEX Issues SZ-HK Stock Connect Rules

By Samuel Riding | 29/09/2016

Information book, SEHK rules and FAQs amended.

AML / KYC

SFC Urges Brokers to Enhance AML Controls

By Samuel Riding | 22/09/2016

Licensees are vulnerable on being used to launder money and finance terrorism, regulator says.

Securities / Derivatives

SFC Proposes Higher Position Limits

By Samuel Riding | 21/09/2016

Cap on excess position limit could be increased 6-fold; 3-tier statutory position limit proposed.

AML / KYC

HKMA to Add Cybersecurity, AML to Competency Framework

By Samuel Riding | 21/09/2016

Measures are part of efforts to boost Hong Kong’s competitiveness as a fintech hub.

SFC Reprimands, Fines HSBC $320,000

By Samuel Riding | 15/09/2016

Regulator penalises bank for regulatory breaches, internal control failures.

Market Infrastructure

Hong Kong Extends Listing Regulation Consultation

By Samuel Riding | 12/09/2016

Proposal to give SFC more say has prompted claims it will reduce HK’s appeal as an IPO destination.

AML / KYC

HKMA Warns of Excessive Due Diligence

By Samuel Riding | 09/09/2016

Authority says some KYC/AML measures ‘disproportionate’; looking at KYC utilities to ease regulatory burden.

SFC Bans Former HSBC Sales Staff

By Samuel Riding | 08/09/2016

Duo claimed commissions on fictitious unit trust sales.