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Enforcement
HSBC Private Bank Fined $50mn for Crisis-era Product Mis-selling
By Editors | 23/11/2017
Securities and Futures Appeals Tribunal says future fines will be similarly large and exceed ‘mere cost of doing business’.
AML / KYC
Hong Kong to Continue to Allow Mutual Fund Sales Commissions
By Editors | 20/11/2017
Securities and Futures Commission says Hong Kong is not ready to ban commissions and introduce a pay for advice model.
HK Court Confirms SFC Authority in Insider Trading Conducted Overseas
By Samuel Riding | 13/11/2017
Court also rules a person’s lack of awareness they are trading on inside information doesn’t mean they don’t have to pay back illicit gains.
Capital / Liquidity
HK SFC Launches Thematic Review of Prime Brokerage, Equity Derivatives
By Editors | 01/11/2017
Regulator says prime brokerage a growing revenue stream for institutions as Hong Kong’s asset management, hedge fund sectors expand.
Securities / Derivatives
Hong Kong Dual-class Listings Not Quite a Brave New World
By Peter Guy | 30/10/2017
Abandoning plans for third board and allowing main board dual-class shares do nothing to support start-ups or attempts to reinvent HK economy.
Securities / Derivatives
HK Brokers Face Cost Squeeze from Cybersecurity Guidelines
By JP Reimann | 30/10/2017
Brokers will be required to use 2FA for client log-ins; implement raft of new measures including management responsibility, stress tests.
Capital / Liquidity
Here’s Sand in Your Eye
By Karen Chiu | 26/10/2017
**Why fintech (financial technology) sandboxes aren’t necessarily the child’s play they’ve been made out to be by banks and disrupters alike.
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Market Infrastructure
Hong Kong Extends After-hours Index Futures Trading
By Editors | 23/10/2017
From 6 November, trading in mini and full versions of HSI and HSCEI index futures will be extended to 1am Hong Kong time.
Market Infrastructure
10,000 Individuals Register Under Hong Kong MIC Regime
By Editors | 19/10/2017
About 40% of individuals to have registered under MIC so far are unlicensed as they are in charge of operations or control functions, SFC says.
AML / KYC
Hong Kong-China to Share Stock Connect Broker, Trader Names
By Editors | 11/10/2017
SFC chief says move will enhance market transparency and surveillance, and improve efficiency in cracking down on malpractice.
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