A Hong Kong tribunal has upheld disciplinary action taken against the local branch of HSBC Group’s Swiss private banking business for “material systemic failures” in relation to the sale of structured products, including from Lehman Brothers, in the run up to the global financial crisis.
Hong Kong will introduce a code of conduct that will restrict asset management intermediaries from being able to use the term “independent” if they receive benefits from other parties.
A majority of the industry responding to the SFC’s proposal on “enhancing industry regulation” were against introducing the fee-based model in Hong Kong.
Hong Kong and Dubai-based securities watchdogs have penned a cooperation agreement on fintech innovation.
The UK Financial Conduct Authority (FCA) has signed an agreement with the regulatory authority in Hong Kong to strengthen cooperation and facilitate the exchange of information.
Hong Kong’s private wealth management assets reached HK$5.2trn (£513.2bn, $665bn, €578.9bn) in 2016, growing by 9% and increasing their share of the overall fund management business in the territory, according to a report by the Securities and Futures Commission.
Hong Kong’s Securities and Futures Commission (SFC) and France’s Autorité des Marchés Financiers (AMF) have signed a memorandum of understanding linking their mutual fund markets.
The Financial Conduct Authority has entered into a co-operation agreement with Hong Kong’s Securities and Futures Commission (SFC) to support innovation in fintech.
Hong Kong’s Securities and Futures Commission (SFC) has proposed a set of suitability requirements for online platforms and robo-advisers which sell ‘complex’ investment products.
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’s Securities and Futures Commission now requires fund managers to disclose the ongoing charges figure (OCF) on their funds’ key facts statements (KFS), according to a circular from the regulator.
Hong Kong’s Securities and Futures Commission (SFC) has reprimanded, banned or taken action against 13 companies and individuals since the start of 2017, most recently banning a former HSBC adviser from re-entering the financial services sector for life.
