The Hong Kong government will be conducting a comprehensive review of the existing tax concessions applicable to the fund industry, according to Paul Chan, Hong Kong’s financial secretary.
Category: Regulation
Survey: Compliance most painful for Hong Kong PBs
Regulatory compliance and talent management are among the major challenges for private banks and wealth management firms in Hong Kong, according to a survey report from the Private Wealth Management Association (PWMA) and PwC.
SFC: More concern over discretionary mandates
Hong Kong’s regulator has identified additional concerns about firms engaged in managing private funds and discretionary accounts.
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).
