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Enforcement
SFC Signs Enhanced MoU on Cross Border Enforcement Cooperation
By JP Reimann | 13/05/2018
Enhanced IOSCO framework enables securities regulators to obtain and share audit working papers, telephone, internet records; compel attendance at interviews; provide guidance on freezing of assets.
AML / KYC
Hong Kong-based Regulatory Alliance Eyes Better Fintech Supervision
By Garima Chitkara | 10/05/2018
Asian regulators, former central bankers and government officials establish information exchange alliance to better regulate fintech, digital payments and cryptocurrency developments in the region.
Securities / Derivatives
SFC Issues New Rules on Instant Message Trade Orders
By JP Reimann | 07/05/2018
Regulator requires two years of full records, client authentication and validation, a written contingency plan and compliance reviews for instant messaging use.
Market Infrastructure
Japanese Banks Respond to HK OTC Derivatives Consultation
By Garima Chitkara | 30/04/2018
Japanese banking association asks for 6-12 months grace for implementing LEI requirements; urges for increased incentives to encourage smaller firms to obtain LEIs.
Securities / Derivatives
SFC to More Than Triple Investor Compensation Limit
By JP Reimann | 30/04/2018
Proposals include raising compensation limit to HKD500,000 per investor, covering Stock Connect northbound trading; raising trigger for reinstating transaction levy to fund compensation.
AML / KYC
Postcards from the Crypto Frontier
By Peter Guy | 30/04/2018
Like a wild west cowboy town, Asian crypto-trading has overwhelmed regulatory efforts to control and discourage its growth. But regulatory confusion and misunderstanding have created opportunities and pitfalls.
Market Infrastructure
HKEX Appoints Laura Cha as Chairman
By Editors | 27/04/2018
Industry veteran Laura Cha is first female chairman for a two-year term, subject to approval by chief executive Carrie Lam.
Fintech / Regtech
HK Brokers Rush to Comply with SFC Cybersecurity Rules
By JP Reimann | 18/04/2018
Several online brokers had been hoping for a delay, tech advisory firm suggests some are ‘willing to trade a little security for convenience’.
Enforcement
SFC Reprimands, Fines Nomura’s Instinet $2.2mn
By Editors | 16/04/2018
The firm failed to put in place reasonable controls to ensure non-proprietary orders received execution priority, prevent erroneous and disorderly orders being sent to the market.
Fintech / Regtech
SFC Eying Rules on Instant Message Trade Orders
By Samuel Riding | 16/04/2018
Executive director also says regulator to develop common standard on the content and format of data required to be kept by investment firms.
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