Coutts & Co fined HK$7m by Hong Kong Monetary Authority
The Hong Kong branch of Coutts & Co has been fined by the Hong Kong Monetary Authority (HKMA) for failing in its anti-money laundering (AML) and counter terrorist financing (CTF) checks.
Hong Kong
-
-
Alibaba-backed robo-adviser Youyu launches in Hong Kong
Hong Kong-listed Yunfeng Financial Group’s has launched a direct-to-consumer robo-adviser Youyu.
-
Hong Kong signs data-sharing deal with South Africa and Portugal
Hong Kong has agreed to an automatic exchange of information with South Africa and Portugal amid mounting pressure from the OECD and the European Union.
-
Wealth management apprenticeship scheme launched in Hong Kong
An initiative designed to provide professional training and employment opportunities for young people interested in careers in private wealth management has been launched in Hong Kong.
-
From shock to success: building The Fry Group’s reputation
James Sutton and David Pugh left the UK in search of fresh challenges in Asia. They discovered a marked difference in the quality of financial advice being offered there and set about ensuring The Fry Group raised the standard.
-
MSCI changes tack on including China A-share in indexes
Index provider MSCI has outlined new proposals designed to overcome issues preventing it from adding the shares of mainland Chinese companies to several key equity indexes, which should effectively allow a limited number of stocks to be included.
-
UAE could face a ‘Hong Kong-style’ life sales slump
Asia has traditionally been the principal market outside the UK for international life business but growth in sales from the two key regional hubs of Hong Kong and Singapore has come to a halt, says Provisca founder Bryan Low.
-
Standard Life cuts Asia insurance profile with Hong Kong sale
Standard Life has agreed to sell its wholly-owned Hong Kong life operation to its Chinese joint venture company Heng An Standard Life Insurance Company (HASL), underlining its move towards an investment-led business focus.
-
Life insurance business in Hong Kong up nearly 50% last year
Life insurance and annuity business in Hong Kong increased by 49% in 2016 to HK$179.1bn (£18.4bn, $23bn, €21.3bn), latest figures released by the Office of the Commissioner of Insurance (OCI) show.
-
Hong Kong regulator freezes accounts in US Ponzi scheme
Hong Kong’s Securities and Futures Commission (SFC) has obtained an interim court order to freeze bank accounts connected with a suspected $15m (£12.1m, €13.9m) US Ponzi scheme that invested in Brazilian and African gold mines.
-
Hong Kong Life Insurance sold in $914m deal
Hong Kong Life Insurance has been sold to local investment firm First Origin International for HK$7.1bn (£738m, $914m, €850m) in the latest insurance M&A deal in the special administrative region.
-
St James’s Places launches int’l investment plan in Hong Kong
St James’s Place has launch the international investment plan (IIP), an investment-linked assurance scheme (ILAS), in Hong Kong.