SFC
Convoy raids put Hong Kong firms on notice
Hong Kong’s financial services firms can expect greater regulatory scrutiny as an unprecedented joint probe by the Independent Commission Against Corruption (ICAC) and the Securities and Futures Commission (SFC) paves the way for future investigations.
HSBC fined record HK$400m for Lehman Brothers-related failures
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 regulator restricts use of ‘independent’
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.
Hong Kong advisers says no to fee-based model
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 market watchdogs partner on fintech
Hong Kong and Dubai-based securities watchdogs have penned a cooperation agreement on fintech innovation.