The Hong Kong branch of Coutts has been fined by the Hong Kong Monetary Authority (HKMA) for failing in its anti-money laundering (AML) and counter terrorist financing (CTF) checks.
Tag: Hong Kong
Survey: HK and SG playing catch-up in fintech
Hong Kong and Singapore financial industry firms see themselves as laggards in fintech innovation, according to a research report by Simmons & Simmons.
HK retail advisor app tests fund distribution waters
Yunfeng Financial Group’s newly-launched Youyu Robo-advisor enables mutual fund investment on a mobile app, and the firm says a lineup of global asset managers are on board.
Robo-advisories face headwinds in China
Robo-advisories will likely take a long time to be accepted in China, according to the CFA Institute.
Retail capital flowing into multi-asset funds
Retail sales of global multi-asset funds in Hong Kong surged in December 2016, suggesting the retail base is now seeking diversification.
Mirae lays bets on passives
Korea-based Mirae Asset has ambitious plans for global ETFs and Hong Kong will play a key role, said global head of ETF business Taeyong Lee.
In case you missed it – Fund News and Updates
Schroders and Vanguard launches funds for MPF’s default strategy; China’s AUM hits $9trn; Hong Kong’s SFC increases enforcement activity; Singapore’s MAS fines a fund manager for late submissions; more fintech partnerships and more…
Firms digest Singapore’s new fund structure plan
An early response suggests adoption by asset managers will depend on how the new corporate structure is taxed.
In case you missed it – Finance News Updates
Blackrock launching two MPF funds, Singapore’s UOB AM and T. Rowe Price rolling out a tech fund in Singapore; key APAC senior management changes at Australia’s AMP Capital; dwindling number of billionaires around the world; an institutional mandate for UK’s Prestige; Hong Kong and Singapore’s regulators penalising professionals for WeChat and spoofing; AIA names David Beckham as its global ambassador; NNIP’s positive outlook for Mongolia; etc…
HK’s SFC freezes accounts in US Ponzi scheme
Hong Kong’s Securities and Futures Commission (SFC) has obtained an interim court order to freeze bank accounts connected with a suspected $15m US Ponzi scheme that invested in Brazilian and African gold mines.
