Hang Seng Bank’s majority stake in a mainland fund house signals a relaxation of rules governing foreign ownership rules in the financial industry, said Z-Ben Advisors.
Category: Regulation
SFC fines Schroders and State Street
Schroder Investment Management (Hong Kong) and State Street Global Advisors have been fined by Hong Kong’s Securities and Futures Commission for two separate regulatory breaches.
MSCI tells China ‘No for now’
For the third time since 2013, the US index provider rejected the inclusion of China A-shares in its flagship emerging market indices, highlighting key unresolved issues.
Singapore’s financial regulator steps up enforcement
The Monetary Authority of Singapore (MAS) has announced plans to set up a new department to centralise and strengthen its enforcement capabilities.
China grants huge RQFII quota to US firms
For the first time, China has granted US asset managers an RQFII quota, which totals RMB 250bn ($38bn).
Singapore regs help drive fintech
The Lion city is busy building a infrastructure, but Hong Kong can serve as a base for China fintech companies, according to law firm Baker & McKenzie.
China issues new RQFII quotas
Blackrock, Nomura AM and Avanda IM are RQFII quota recipients after the scheme was expanded by RMB 21.2bn ($3.22bn) in April, according to the latest data from State Administration of Foreign Exchange.
SFC fines firm for failing to identify client
Hong Kong’s Securities and Futures Commission has reprimanded and fined Guotai Junan Securities (Hong Kong) for failing to reveal a client’s identity.
CSRC punishes high-frequency traders
Two people were fined RMB 1m each for high frequency trading during the A-share market collapse last summer, the CSRC said.
MAS shuts down BSI Bank in Singapore
The Monetary Authority of Singapore also slapped BSI with a $9.5m fine and sent six senior managers and staff to the public prosecutor to evaluate whether they have committed criminal offences.
