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Regulatory Update

22nd June 2016

Hong Kong: Securities and Futures Commission Net Profit Rises 62% for 2015-16

Hong Kong’s financial markets regulator, the Securities and Futures Commission (SFC), today released its 2015-16 annual report, as per an official announcement. The SFC reported a 62% increase in net profit as total operating income rose by 18% compared to the prior year, apparently driven by the total value of… Read More

21st June 2016

Hong Kong regulator fines Schroders and State Street

Hong Kong’s Securities and Futures Commission (SFC) has reprimanded and fined both Schroder Investment Management and State Street Global Advisors Asia (SSGA), in two separate incidents. The watchdog fined Schroders HKD1.8 million (US232,000) for failing to disclose all notifiable interests in Hong Kong listed shares held in client portfolios and… Read More

21st June 2016

Hong Kong: 120 per cent mortgages? Lending schemes in spotlight as banking regulator flags concern over aggressive tactics to lure home buyers

Hong Kong’s banking regulator has expressed concern over the ultra-accommodative financing schemes offered by some Hong Kong developers to entice home buyers, saying that it is studying whether controls are needed to help offset credit risk. The Hong Kong Monetary Authority (HKMA) said it is monitoring the recent… Read More

9th June 2016

Blockchain technology can help banks beat money-laundering, Hong Kong regulator says

Some central banks are taking an interest in blockchain as a way to cut the risk of fraud and weed out suspicious transactions Read More

8th June 2016

Hong Kong’s ‘King of Penny Stocks’ to take over Birmingham City from Carson Yeung

Paul Suen Cho-hung’s ‘Trillion Trophy Asia’ to take over club Read More

26th May 2016

Wife of Natural Dairy ex-director has HK$200 million money laundering conviction overturned by Hong Kong’s Court of Appeal

Judge orders a retrial on separate charges of dealing with property known or believed to represent the proceeds of an indictable offence Read More

24th May 2016

Hong Kong regulator to begin review of data privacy laws

Hong Kong will begin a review of its data privacy rules over the next 18 months, with a view to potentially updating them in line with technological developments and changes in European regulation, the territory's privacy regulator said. Read More

19th May 2016

HK banks warned over trade-based money laundering

Banks in Hong Kong have been warned that regulators are ready to get serious on trade-based money laundering (TBML) breaches in the region. Read More

18th May 2016

Launch of the Cybersecurity Fortification Initiative by the HKMA at Cyber Security Summit 2016

To further enhance the cyber resilience of the banking sector in Hong Kong, the Hong Kong Monetary Authority (HKMA) announced today the launch of a “Cybersecurity Fortification Initiative” (CFI) at the “Cyber Security Summit 2016” (the ‘Summit’), in which the HKMA also serves as the Programme Advisor for this prestigious event. Read More

15th April 2016

Four charged in Hong Kong over HK$1.8 billion money laundering case

Four Hongkongers were arrested as police cracked a money laundering racket involving a staggering HK$1.8 billion. Read More

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