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Securities / Derivatives
SFC Identifies Best Practices for Alternative Liquidity Pools
By Editors | 10/04/2018
ALP operator guidelines should include third-party order routing and information about prioritisation for orders simultaneously posted to exchanges; all ALP users should be qualified investors.
Fintech / Regtech
SFC Issues Robo-advice Guidelines
By Samuel Riding | 29/03/2018
Robo-advice platforms should explain how their underlying algorithms operate, ensure regular testing to ensure they remain fit for purpose.
Enforcement
IPO Sponsors Still Deficient, says SFC
By Editors | 27/03/2018
Thematic review details deficiencies in standards of conduct, due diligence practices and internal systems and controls.
Enforcement
SFC Fines UBS Securities for Missing Client Consent Records
By Editors | 23/03/2018
The firm was only able to provide the regulator about half of the client consents for facilitation trades.
Enforcement
Deutsche Fined, Censured for HK Regulatory Breaches
By Samuel Riding | 15/03/2018
Securities regulator says fine would have been much higher were it not for self-reporting of breaches, cooperation in inquiry and ‘remedial measures’.
Enforcement
CLSA Fined $1.15mn for Internal Control Failures – SFC
By Manesh Samtani | 15/03/2018
The firm failed to put in place controls to prevent co-mingling of agency execution and client facilitation services.
Enforcement
UPDATED – SFC Hits UBS with Fine, IPO Underwriting Suspension
By Manesh Samtani | 12/03/2018
The bank was fined $15.2mn and intends to appeal its 18-month suspension from IPO underwriting; possible disciplinary action on eight other firms.
AML / KYC
Why Hong Kong’s New Trust Rules Won’t Boost AML/CTF Efforts
By Bradley Maclean | 01/03/2018
Rather than comply with new rules on beneficial owner registration and due diligence, many trusts are likely to simply leave Hong Kong for less onerous jurisdictions.
Enforcement
Hong Kong SFC to Focus on Corporate Fraud in 2018
By Editors | 27/02/2018
SFC’s recent newsletter on enforcement priorities details concern on false financial statements, IPO fraud and other sponsor failures.
Enforcement
HK SFC Sees Surge in Criminal Prosecutions
By Samuel Riding | 25/02/2018
Criminal charges laid by securities regulator nearly tripled in last nine months of 2018, although investigations started and concluded declined.
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