Hong Kong’s regulator has identified additional concerns about firms engaged in managing private funds and discretionary accounts.
Category: Regulation
HKMA suspends ex-StanChart RM for forgery
The Hong Kong Monetary Authority has suspended Yip Wai Pang, a former relationship manager at Standard Chartered Bank for 18 months for forgery, according to a statement from the regulator.
China Ponzi scheme execs to spend life in prison
The architects behind a Ponzi scheme that cheated 900,000 investors out of RMB 50bn ($7.6bn) were given life sentences.
China tightens hold on $780bn MMF industry
Chinese regulators continue to rein in money market funds with new rules, but Tencent has launched its own MM product to compete with Yuebao, the world’s largest.
Hong Kong’s SFC reins in digital tokens
Following China and Singapore, Hong Kong’s Securities and Futures Commission has clarified its position on the offer of digital tokens in Hong Kong.
Thailand loosens cap on offshore investment
The Bank of Thailand (BoT) has raised the ceiling to $100bn for domestic investors who want offshore exposure.
China tightens grip on fund industry
China’s State Council has released provisional regulations that impact foreign fund managers who operate in the country’s RMB 9.95trn ($1.51trn) private fund industry, according to a circular from the government.
Blackrock receives $2.27bn in RQFII quotas
Blackrock, First State and Mirae Asset were among the firms that received RQFII quotas in August, according to records from China’s State Administration for Foreign Exchange (SAFE).
China plans another channel for offshore investment
The planned QDII2 programme will allow Chinese investors direct investment in offshore securities, but it is unlikely to spark interest, according to Stewart Aldcroft, Asia-Pacific senior adviser for markets and securities services at Citibank.
Singapore warns investors on virtual currency investments
As virtual currencies grow in value, Singapore’s Commercial Affairs Department (CAD) and the Monetary Authority of Singapore (MAS) are warning investors about the risks of virtual currency-related investment schemes.
