The proposal to enhance fee disclosures should not have a big impact on banks and fund houses, but may impact the small intermediaries, according to industry players.
Tag: Hong Kong
HK and Singapore in push for fee transparency
Following Singapore, Hong Kong’s Securities and Futures Commission has proposed that fund distributors cannot call themselves independent if they are receiving commission from distributing funds, and they need to state the fee amount at the point of sale.
SFC fines ex-fund house employee
For failing to declare commission and an improper know-your-customer process, the Securities and Futures Commission has banned Benedict Ku Ka-tat for one year and fined him HK$150,000 ($19,340).
The fall of synthetic ETFs in HK
The 2% yearly collateral charges and strict regulations in the SAR are causing issuers to close down synthetic ETFs and discouraging them from launching new synthetic products.
CSRC acts on illegal Stock Connect trades
The China Securities Regulatory Commission has made its first crackdown on an illegal transaction via the Shanghai-Hong Kong Stock Connect.
Capital Group, EIP and iShares roll out funds in HK
During the week, Capital Group brought nine funds to retail investors in the SAR and EIP listed its gold miners ETF, while iShares prepares to launch an ETF tracking the Hang Seng Index next week.
Hong Kong holds China fintech advantage
Hong Kong has better access to capital than Singapore and it will reap benefits from China’s fintech rollout, said Mathias Helleu, chairman and co-founder of Hong Kong-based 8 Securities.
Singapore and Hong Kong race for fintech edge
Regulators are moving at uncharacteristic speed, signing cross-border fintech agreements, creating `sandboxes’ and talking up the advantages of their home markets as fintech innovation hubs.
Value Partners CEO resigns
Timothy Tse Wai-ming is to “pursue other business interests and opportunities” after working in the Hong Kong-based fund house for 10 years.
HK bans former UOB rep for 10 years
The Securities and Futures Commission has banned Lawrence Lai from re-entering the markets for 10 years after misconduct in trading led to a HK$50m ($6.45m) loss in 2011.
