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Securities / Derivatives
SFC Plans to Issue Code of Conduct for Investment Banks – Report
By Editors | 16/11/2020
The SFC is reportedly seeking to frame a detailed code of conduct for capital raisings that will cover how investment banks calculate their fees.
Market Infrastructure
HKEX Proposes Revamp of Hong Kong IPO Settlement Process
By Manesh Samtani | 16/11/2020
Subject to market support and readiness, HKEX intends to launch a new platform called FINI in 2022 that will cut the IPO settlement process from T+5 to T+1.
Enforcement
SFC Fines Credit Suisse Securities Over Market Making Errors
By Editors | 09/11/2020
Credit Suisse Securities submitted 17,000 erroneous market making quotes to the market in 8 minutes due to a logic error in its symbol mapping programme.
AML / KYC
SFC Eases Uncertainty Over National Security Law – Report
By Editors | 09/11/2020
Implementing US sanctions is unlikely to be considered a breach of the national security law. The SFC has dropped a plan to force cloud providers to share client data.
AML / KYC
Hong Kong to Align Crypto Regulatory Framework with FATF Standards
By Manesh Samtani | 03/11/2020
The government proposes to introduce a new licensing regime for VASPs that trade non-security tokens, and a registration regime for dealers in precious metals and stones.
Enforcement
SFC Suspends Licence of Mason Securities Representative
By Editors | 30/10/2020
The former licensed representative said she had forgotten to declare an external securities trading account initially, and “could not be bothered to do so subsequently”.
ESG / Sustainability
SFC Proposes New Requirements for Fund Managers on Climate Risk
By Manesh Samtani | 29/10/2020
The proposed requirements for fund managers cover four key elements: governance, investment management, risk management and disclosure.
Market Infrastructure
Bovill Research Calls into Question Efficacy of FCA’s SMCR
By Shruti Khairnar | 28/10/2020
The FCA’s experience with SMCR could inform senior management regimes in other jurisdictions such as Singapore, Australia and Hong Kong.
Securities / Derivatives
HKEX Proposes to Allow Holiday Trading of MSCI Derivatives
By Editors | 25/10/2020
Exchange participants are asked to indicate their expectations for operational readiness by completing an online form by 6 November.
Market Infrastructure
FSTB to Introduce ‘Corporate Rescue’ Bill for LegCo Deliberation
By Sanday Chongo Kabange | 21/10/2020
The FSTB also plans to introduce bills to provide targeted tax relief for private equity funds, enable a paperless securities market in Hong Kong, and progress work on the new eMPF platform.
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