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Enforcement
SFC Fines RHB Securities for Internal Control Failures
By Editors | 02/01/2020
RHB Securities failed to effectively implement its policy for avoiding conflicts of interest between its research reports and investment banking relationships, among other compliance issues.
Enforcement
CLSA, CITIC Securities Censured for Breaching Share Buyback Rules
By Editors | 02/01/2020
CLSA and CITIC Securities carried out pre-arranged trades on the SEHK to allow Beijing Enterprises Holdings to buyback its shares without regulatory or shareholder approval.
Enforcement
SFC Fines Fidelity Unit for Unlicensed Futures Dealing
By Editors | 31/12/2019
FIL Investment Management executed over 6,700 futures trades for overseas affiliates without a Type 2 licence, and delayed reporting the breach to the SFC.
Enforcement
SFC Fines Adamas Asset Management for Disclosure Failings
By Editors | 24/12/2019
The asset manager was fined HK$2.5mn for filing 339 incorrect or late notifiable interest disclosures to the SEHK and eight listed companies.
AML / KYC
SFC Proposes Enhancements to OFC Regime
By Editors | 23/12/2019
The changes include a mechanism for overseas corporate funds looking to re-domicile in Hong Kong. OFCs will also have to keep a register of beneficial shareholders.
AML / KYC
SFC, CSRC Set Date for Southbound Investor Identification Regime
By Editors | 20/12/2019
With technical preparations now complete at exchanges and clearinghouses, southbound trading investor identification regime is scheduled for implementation on 13 January.
Enforcement
China, US in Talks on Allowing Joint Inspections of Auditors
By Editors | 19/12/2019
The CSRC has reportedly been in talks with the US audit regulator on allowing joint inspections of firms that audit Chinese companies listed in the US.
Securities / Derivatives
SFC Concludes Consultation on OTC Derivatives Margin Requirements
By Manesh Samtani | 19/12/2019
IM requirements will be phased in for firms with AANA exceeding HK$375bn starting from 1 September 2020, the same date VM requirements take effect.
Enforcement
SFC Bans Two Individuals for Window-Dressing Scheme
By Editors | 17/12/2019
For 3 years, the month-end liquid capital of W. Falcon Asset Management was falsely inflated with amounts on cheques that were later dishonoured.
Securities / Derivatives
SFC to Allow Hong Kong ETFs to Invest in Overseas Master ETFs
By Editors | 17/12/2019
The SFC will authorise index tracking feeder ETFs that want to invest in an overseas-listed, non-SFC authorised master ETF on a case-by-case basis.
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