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ESG / Sustainability
Asset Managers Looking to Boost ESG, Climate Efforts: SFC
By Manesh Samtani | 17/12/2019
There is significant interest among asset management firms to step up their ESG efforts and management of environmental and climate risks, an SFC survey has found.
Enforcement
SEBI Bans Fidelity Trader and Family Members for Front-Running
By Editors | 10/12/2019
The trader used non-public information to front-run impending trades of Fidelity Group entities with his mother and sister’s trading accounts from Hong Kong.
Securities / Derivatives
SFC, HKMA to Launch New Survey to Assess Product Selling Risks
By Editors | 10/12/2019
The survey will help the SFC and HKMA identify risks associated with the selling activities of intermediaries and coordinate their responses to address areas of common concern.
AML / KYC
SSE, SZSE Propose Rules Changes to Implement Investor ID Regime
By Editors | 25/11/2019
Under the regime, brokers must assign a unique digital code that identifies each investor, who will be “deemed to agree” that their information may be transferred to the Hong Kong SFC and SEHK.
Enforcement
SFC Warns Against Concealing Identities of Transacting Counterparties
By Manesh Samtani | 22/11/2019
Listed entities should disclose counterparties’ controllers and beneficial owners in corporate transactions. Asset managers should maintain effective controls to detect dubious arrangements or transactions.
Enforcement
SFC Bans Former Deutsche Securities RO for Life
By Editors | 18/11/2019
For ban follows a February 2018 conviction, where the former responsible officer was sentenced to 45 months’ imprisonment and ordered to pay HK$6.4mn to Deutsche Bank AG in restitution.
Enforcement
UBS Fined in Singapore for Pricing Deception by Advisers
By Editors | 18/11/2019
The MAS penalty follows similar action taken against UBS by the Hong Kong SFC to penalise the bank and demand compensation for clients that were overcharged over a ten-year period.
Securities / Derivatives
MAS Grants Dalian Commodity Exchange RMO Licence
By Editors | 12/11/2019
China’s Dalian Commodity Exchange has been recognised by the MAS as a market operator, allowing it to promote iron ore futures to Singapore investors.
Enforcement
UBS to Pay HK$600m in Fines and Compensation for Overcharging Clients
By Editors | 12/11/2019
The SFC reprimanded and fined UBS for overcharging clients over a ten-year period, affecting 5,000 Hong Kong-managed client accounts in over 28,000 transactions.
Enforcement
Former HKTV Staff Member Jailed for Insider Dealing
By Editors | 09/11/2019
HKTV’s former senior regulatory affairs manager made over HK$160,000 in profit from trading on insider information in December 2013.
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