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Securities / Derivatives
SFC Set to Launch Digital Licensing Platform on WINGS
By Editors | 15/12/2021
New electronic licensing forms for licence applications, annual returns, notifications and regulatory filings are to be submitted through WINGS from 3 January.
Securities / Derivatives
SFC Sets Out Rules for Quarantine-free Travel to Mainland
By Manesh Samtani | 14/12/2021
Staff or directors of licensed corporations whose main purpose of travel is for the management of the firm’s Mainland business are eligible.
Securities / Derivatives
China to Restrict Use of VIE Structures for Foreign IPOs
By Manesh Samtani | 10/12/2021
The blacklist is expected to target new companies in sensitive sectors that use VIE structures to run their China businesses.
Crypto / Digital Assets
Mapping Out How Decentralised Exchanges Can be Regulated
By Kristi Swartz | 07/12/2021
An appropriate regulatory regime that safeguards investors and fosters innovation will allow society to benefit from DEXs and DeFi generally, says DLA Piper’s Kristi Swartz.
Enforcement
Hong Kong SFC Imposes Lifetime Ban on Former Licensee
By Editors | 06/12/2021
The former licensee offered to invest for two students he taught, and then misappropriated their funds for his personal use.
Enforcement
SFC Bans Former Private Banker Over False Academic Qualifications
By Editors | 01/12/2021
The SFC considers the former relationship manager to not be fit and proper as her conduct was “plainly dishonest”.
ESG / Sustainability
Hong Kong SFC Targets Adoption of Global ESG Standards
By Manesh Samtani | 01/12/2021
Chairman Tim Lui says the SFC is currently evaluating ESG disclosures “much more closely” and looking for more ways to reduce opportunities for greenwashing.
Enforcement
Hong Kong SFC Investigates Ramp-and-Dump Scam
By Editors | 29/11/2021
Restriction notices have been sent to two brokerage firms prohibiting them from dealing in assets worth HK$312mn held across 17 trading accounts.
AML / KYC
SFC Issues Technical Guidance for New Reporting Regime
By Editors | 28/11/2021
A new paper introduces a pre-defined file format for OTCR submissions. Guidance on the new investor identification regime has also been released.
Enforcement
HK ICAC Charges Four for Concealing Backdoor Listing
By Editors | 28/11/2021
A retired lawmaker and his son concealed an agreement with a third party who agreed to pay them about HK$210mn for control of a listed stock.
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