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Securities / Derivatives
HKMA, SFC Direct Intermediaries to Improve Client Trade Practices
By Editors | 30/10/2021
Intermediaries have been required to undertake remedial action to address non-compliance with transaction-related disclosure requirements.
Securities / Derivatives
SFC Finalises Changes to Code on Pooled Retirement Funds
By Editors | 29/10/2021
The amendments include enhanced requirements for PRF operators including product providers, trustees, management companies and insurance companies.
Enforcement
SFC Bans Former StanChart Licensee for Life
By Editors | 28/10/2021
The former licensee failed to disclose to the SFC in licensing applications that he was the subject of a criminal investigation.
ESG / Sustainability
A Look at the SFC’s Climate Risk Requirements for Fund Managers
By Michael P Wong | 27/10/2021
The new requirements will have a significant impact on in-scope fund managers, and not just those that follow ‘sustainable’ or ‘ESG’ strategies, says Dechert partner Michael Wong.
AML / KYC
HKMA, SFC Issue FAQ on ‘Offence Related Property’ Under NSL
By Editors | 25/10/2021
FIs “must” disclose to the JFIU property held by persons charged for offences under the National Security Law regardless of the portion of shareholdings.
Enforcement
Appeals Tribunal Affirms SFC Punishment of Yi Shun Da Capital
By Sanday Chongo Kabange | 21/10/2021
The Appeals Tribunal upheld the SFC’s decision to punish Yi Shun Da Capital over sponsor failures but reduced the penalty amount.
Enforcement
SFC Penalises IPO Sponsor Over Substandard Due Diligence Work
By Editors | 18/10/2021
Ample Capital Limited failed to conduct adequate due diligence on suspicious cash settlements and to keep proper records of its due diligence work.
Securities / Derivatives
HKEX Launches First China A-Share Futures Contract
By Editors | 18/10/2021
The contract is based on the MSCI China A 50 Connect Index, which tracks the performance of 50 key Shanghai and Shenzhen stocks available via Stock Connect.
Enforcement
HK Court Jails Former Convoy, Gransing Executives
By Editors | 17/10/2021
Former Convoy executives conspired to dishonestly arrange for bond placement commissions to be diverted to a company they substantially owned.
ESG / Sustainability
HK Regulators Offer Support for New Climate Action Plan
By Manesh Samtani | 13/10/2021
The Green and Sustainable Finance Cross-Agency Steering Group pledges support for the government’s Climate Action Plan 2050.
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