This week the regulator approved three Hong Kong-domiciled products, which are aimed at eventual sale to mainland investors via the Mutual Recognition of Funds scheme.
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This week the regulator approved three Hong Kong-domiciled products, which are aimed at eventual sale to mainland investors via the Mutual Recognition of Funds scheme.
The flagship Chinese tech firm is looking to enter Hong Kong’s mutual funds market.
Hong Kong’s Securities and Futures Commission (SFC) reveals discussions with the mainland regulator to relax the limit on overseas delegation.
In 2017, total assets under management by the private banking and private wealth management business in Hong Kong hit $1trn (HK$7.8trn), while asset management was up 23%, according to the Securities and Futures Commission (SFC).
Wealth manager Noah Holdings was fined by Hong Kong’s regulator for failure to comply with several requirements, including KYC and due diligence matters.
To prepare for China’s MSCI indices inclusion, regulators in Hong Kong and China have announced a four-fold increase in daily trading quotas for the cross-border Stock Connect programmes.
Oil contracts and Ucits funds have begun offering renminbi-based products after China scrapped some foreign exchange controls to catch up with international currency standards.
In separate moves, Hong Kong’s Securities and Futures Commission this month has gone after UBS, Deutsche Bank and CLSA for regulatory breaches.
Julia Leung has been re-appointed as executive director for intermediaries and has been given a deputy CEO role for three years, according to a statement from the regulator.
Bond, equity and mixed asset funds registered for sale in Hong Kong were up in double-digit percentages in 2017, capping a buoyant year for the SAR’s mutual fund industry, according to the December 2017 quarterly report from the Securities and Futures Commission.
Part of the Mark Allen Group.