Tag Archives: HKMA

Hong Kong regulators warn of common instances of non-compliance in asset management

The Hong Kong Securities and Futures Commission (SFC) has recently conducted around 250 inspections of licensed corporations engaged in asset management business, and has identified a number of common instances of regulatory non-compliance among them, which it has set out … Continue reading

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Filed under Announcements, Asset management, Hong Kong

HKMA CONTINUES ITS FOCUS ON CORPORATE GOVERNANCE HONG KONG WITH CIRCULAR TO HARMONISE SECTION 72B WITH “MANAGER IN CHARGE” REGIME

On 16 October 2017, the Hong Kong Monetary Authority (HKMA) introduced by way of a circular new measures to heighten management accountability at Registered Institutions (RIs) for conducting or supervising the conduct of businesses that constitute regulated activities (RAs). These … Continue reading

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Filed under Hong Kong, Regulatory Reform

SFC and HKMA continue to prioritise AML/CFT compliance with six new disciplinary actions in Hong Kong

Since early March 2017, the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) in Hong Kong have collectively taken disciplinary actions against five regulated entities and an individual relating to breaches of anti-money laundering (AML) and … Continue reading

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Filed under Asia, Hong Kong, Sanctions and Money Laundering

UK and Hong Kong regulators enter into co-operation agreement to foster collaboration and promote innovation

On 7 December 2016, the UK's Financial Conduct Authority (FCA) and the Hong Kong Monetary Authority (HKMA) entered into a co-operation agreement as part of an initiative to promote innovation in their respective markets and to reduce barriers to entry … Continue reading

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Filed under Hong Kong

Consultation launched on proposed regulations on protected arrangements following enactment of the Financial Institutions (Resolution) Ordinance

The Financial Institutions (Resolution) Ordinance (Ordinance), which sets out the framework for a cross-sector regime for the orderly resolution of financial institutions in Hong Kong, was passed by the Legislative Council (LegCo) on 22 June 2016. The Ordinance largely follows … Continue reading

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Filed under Asia, Hong Kong

Hong Kong OTC derivatives update: Are you ready for 1 September 2016?

On 1 September 2016, the first phase of mandatory clearing of over-the-counter (OTC) derivative transactions (Phase 1 Clearing) will be implemented. The first transactions to be potentially subject to mandatory clearing will be those entered into on or after 1 … Continue reading

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Filed under Hong Kong

Hong Kong revises and further consults on draft rules for mandatory reporting of OTC derivatives and related record-keeping

The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) have published consultation conclusions on the draft rules for mandatory reporting of over-the-counter (OTC) derivatives and related record keeping.  The draft rules have been amended, taking into … Continue reading

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Filed under Asia, Hong Kong