Asia
HSBC Private Bank appeals record Hong Kong fine
In a misconduct case more than a decade old, HSBC Private Bank is appealing against a record HK$605m regulatory fine (£53.7m, $77.9m, €67.8m) and the possible revocation of its license to advise on securities.
Montpelier shuts KL office, transfers clients to 360
Malaysian-based financial advisory firm Montpelier has closed its troubled Kuala Lumpur office, transferred all client business to Labuan-regulated Three Sixty Financial (360) and parted ways with two former directors, Stuart Williamson and Diane Docherty.
Chinese asset management industry cleaning house
More than 2,000 private fundraising and management firms will be forced out of the Chinese market, according to the China Securities Regulatory Commission (CSRC) and the Asset Management Industry Association of China (Amac).
China relaxes international bond issuance rules
China’s central bank has relaxed the rules for mainland corporations looking to issue bonds offshore, according to the People’s Bank of China.
Samsung AM targeting retail interest with ETFs
Samsung Asset Management intends to launch at least one leveraged and one inverse exchange-traded fund in Hong Kong.