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AML / KYC
SFC Revises AML/CFT Guidelines for Securities Sector
By Manesh Samtani | 20/09/2020
The proposed amendments seek to align the SFC’s guidelines with the FATF guidance for adopting a risk-based approach in the securities sector.
Enforcement
SFC Fines BEA for 13 Year Failure to Segregate Client Securities
By Editors | 17/09/2020
There was no evidence of client loss as a result of BEA’s regulatory breaches, and the bank has undergone remedial actions to enhance its internal systems and controls.
Enforcement
SFC Bans Sponsor Principal for 20 Months Over 2017 IPO Application
By Manesh Samtani | 16/09/2020
Former Yi Shun Da Capital CEO breached the code of conduct and sponsor guidelines in his work on the listing application of Imperial Sierra Group in 2017.
Enforcement
SFC Issues Statement on Alleged Manipulation of Next Digital Shares
By Manesh Samtani | 14/09/2020
The SFC does not explicitly say whether it is investigating Next Digital trading activity or whether a request for assistance was received from police ahead of last week’s arrests.
Market Infrastructure
Changes to Hong Kong OFC Regime Take Effect Immediately
By Editors | 13/09/2020
Private OFCs are no longer subject to investment restrictions and securities brokers are now eligible to be OFC custodians, among other changes.
Enforcement
HK Police Arrest 15 on Stock Manipulation Suspicions
By Sanday Chongo Kabange | 10/09/2020
Police believe the 15 individuals manipulated the stock price of Next Digital after its owner Jimmy Lai was arrested last month.
Enforcement
SFC Seeks Damages for Tianhe Investors Over Defective Prospectus
By Editors | 07/09/2020
The SFC’s investigation revealed that about 53% of Tianhe’s total track record revenue disclosed in its 2014 IPO prospectus was overstated.
Capital / Liquidity
HKEX Enhances Capital-based Position Limits for Options, Futures
By Manesh Samtani | 07/09/2020
SEOCH and HKCC clearing participants can apply to increase their capital-based position limits, provided they meet a set of criteria.
Securities / Derivatives
SFC to Enhance OFC Regime to Level Playing Field
By Manesh Samtani | 02/09/2020
The SFC will remove investment restrictions, expand custodian eligibility requirements, and introduce a statutory re-domiciliation mechanism.
Market Infrastructure
Hong Kong: OTC Clear Launches Sponsored Clearing Model
By Manesh Samtani | 31/08/2020
Foreign banks in Hong Kong that are unable to become full clearing members can use the ‘Sponsored Settlement Member’ model to access central clearing via OTC Clear.
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