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Enforcement
Hong Kong Finance Manager Convicted of Insider Dealing
By Editors | 21/02/2019
A GEM stock finance manager was in possession of inside information related to unaudited losses and an impending share suspension when he and his father sold their shares in the company.
AML / KYC
SFC Fines Guosen Securities $1.94mn for AML Breaches
By Editors | 19/02/2019
The Hong Kong unit of Guosen Securities failed to make enquiries into or report thousands of suspicious third party deposits.
Fintech / Regtech
Global Innovation Sandbox Opens for Cross Border Testing
By Editors | 04/02/2019
The GFIN’s 29 members include the HKMA, SFC, MAS and ASIC. Applications are now open for firms looking to test innovative cross border financial services.
Securities / Derivatives
UPDATED – Hong Kong SFC Revamps Licensing Processes
By Editors | 04/02/2019
The move is aimed at halting “rolling bad apples” in their tracks by requiring firms to provide the SFC with details about employee departures, says Herbert Smith Freehills.
Market Infrastructure
JPM Asset Management Approved to Sell HK Funds in China
By Editors | 30/01/2019
Two of JPMorgan’s Hong Kong funds have been approved for distribution in China under the Mutual Recognition of Funds scheme.
Market Infrastructure
Hong Kong Seeks Market Views on Paperless Securities Market
By Editors | 29/01/2019
Hong Kong is seeking industry feedback on plans to introduce new systems for a paperless securities market to enhance global competitiveness and increase market efficiency.
Big Picture
IMF Commends Hong Kong for Robust Financial Regulation and Supervision
By Editors | 28/01/2019
The IMF has assessed that robust financial regulation and supervision should help Hong Kong weather domestic and external shocks despite growing risks to the city’s outlook.
Crypto / Digital Assets
Hong Kong, Luxembourg Sign Mutual Recognition of Funds Agreement
By Editors | 16/01/2019
Eligible general equity, bond or mixed funds authorised by the SFC can seek authorisation to be marketed to retail investors in Luxembourg.
Capital / Liquidity
SFC Fines FWD Life for Noncompliance with Key Personnel Requirements
By Editors | 09/01/2019
FWD Life also failed to maintain satisfactory internal controls and written compliance procedures as required under the SFC Code on MPF Products and the Fund Manager Code of Conduct.
Securities / Derivatives
Hong Kong SFC Launches New Online Submission Portal
By Editors | 07/01/2019
All functions and submission services available on the existing SFC Online Portal will be migrated to the new platform in phases.
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