ADVERTISEMENT
Enforcement
Hong Kong Asset Manager Fined for Wash Trading
By Editors | 28/12/2018
The asset management firm was both the buyer and seller in a transaction between two of its brokers, which the SFC deemed was a wash trade.
Securities / Derivatives
Licensed Corporations Should Carefully Review Internal Controls – SFC
By Editors | 20/12/2018
The SFC has reviewed brokers’ internal control systems and found they are not adequately protecting client assets, supervising their staff or incentivising good compliance culture.
AML / KYC
Stock Connect to Introduce Investor ID Regime for Southbound Trading
By Editors | 17/12/2018
Launched on 26 September for northbound trading, the investor identification regime will be introduced for southbound trading by the end of Q1 2019.
Market Infrastructure
Plans to Launch HK-China ETF Connect Put on Hold – Report
By Editors | 14/12/2018
Trading and settlement issues will require “a very long period of discussion” to resolve, according to SFC chairman Tim Lui, adding that the focus will shift to enabling ETF cross listings.
Securities / Derivatives
Hong Kong to Extend Profits Tax Exemption to Local PE, Hedge Funds
By Editors | 14/12/2018
Under the existing framework, non-retail funds domiciled in Hong Kong are not exempt from profits tax, unlike their offshore-domiciled counterparts.
Market Infrastructure
SFC Concludes Consultation on Enhancements to OTC Derivatives Regime
By Editors | 13/12/2018
OTC derivatives participants will be subject to new risk mitigation requirements, as well as conduct requirements for dealings with group affiliates and related parties.
Capital / Liquidity
IMF Commends Hong Kong for Strong Buffers, Robust Policy Frameworks
By Manesh Samtani | 12/12/2018
Years of prudent macroeconomic policies and robust financial regulation and supervision will help Hong Kong weather possible domestic and external shocks, the IMF says.
Enforcement
Korean Regulators Become Latest Signatories to IOSCO EMMoU
By Editors | 07/12/2018
South Korea’s FSC and FSS have jointly become the 10th member of IOSCO’s EMMoU, which enables cross-border sharing of audit papers and telecommunications and internet records.
Enforcement
Soros-Linked Fund Manager Fined in Hong Kong for Naked Short Selling
By Editors | 07/12/2018
SFM HK Management Ltd, owned by New York’s Soros Fund Management, was fined HK$1.5mn for short selling Great Wall Motors bonus shares before they were available for trading.
Capital / Liquidity
SFC Revised Code for Funds to Take Effect from January 2019
By Manesh Samtani | 07/12/2018
Amended ‘Code on Unit Trusts and Mutual Funds’ to take effect in January with 12-month transition period. Proposals on classification of derivatives funds have been revised.
JOIN OUR NEWSLETTER
A daily selection of top stories from the Regulation Asia editorial team