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Securities / Derivatives
SFC to Raise Competency Bar for Licensees, With Some Flexibilities
By Editors | 13/12/2020
Among the changes, the SFC proposes tougher requirements for advisers on Takeovers Code transactions, to address concerns about the poor quality of work in this area.
Market Infrastructure
Data Storage Rules: A Christmas Present From the SFC
By Derek McGibney | 11/12/2020
While the SFC’s new FAQs on the use of cloud storage make compliance more manageable, licensed corporations still need to weigh their options, says Derek McGibney at Cognitive GRC.
Market Infrastructure
SFC Provides Alternative for Compliance With Data Storage Rules
By Manesh Samtani | 10/12/2020
The SFC will accept an undertaking from core function MICs as an alternative means of satisfying the requirement for a countersigned notice or undertaking from an EDSP.
Securities / Derivatives
SFC Amendments to REIT Code Have Taken Effect
By Editors | 08/12/2020
The SFC has also adopted a more streamlined approach to compliance with requirements regarding vetting and approval of REIT-issued announcements and circulars.
AML / KYC
SFC Proposes to Introduce HK Investor ID Regime in 2022
By Editors | 06/12/2020
The proposed investor ID regime is expected to be implemented in Q1 of 2022 at the earliest. A separate reporting regime is proposed for OTC securities transactions.
AML / KYC
SFC Directs Senior Managers to Correct AML/CFT Deficiencies
By Editors | 02/12/2020
The SFC found deficiencies in areas including oversight, internal controls, risk assessments, third party deposits, SoW/SoF checks, and sanctions screening, among others.
Enforcement
Former Convoy Executives Found Not Guilty in ‘Enigma Network’ Case
By Editors | 02/12/2020
The judge ruled that the evidence provided by prosecutors was not sufficient to prove there was any attempt to deceive the stock exchange or Convoy directors or investors.
AML / KYC
Lessons from Cryptoassets in the Fight Against Financial Crime
By David Carlisle | 01/12/2020
Elliptic’s David Carlisle and Onchain Custodian’s El Lee discuss opportunities for the banking and cryptoasset industries to learn from one another in the fight against financial crime.
Fintech / Regtech
Lack of Electronic Solutions Hindering Capital Market Access: ASIFMA
By Editors | 30/11/2020
The report calls on government and regulators to facilitate greater use of e-signatures, virtual meetings, and other electronic solutions in Hong Kong and Singapore capital markets.
Securities / Derivatives
SFC Finalises Changes to Grant Greater Flexibility to REIT Managers
By Editors | 29/11/2020
REITs will be allowed to invest in minority-owned properties and property development projects, and borrowing limits will be increased.
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