Hong Kong
Hong Kong regulator fines BNP Paribas HK$4m for overcharging
The Securities and Futures Commission (SFC) has fined BNP Paribas Wealth Management HK$4m (£393,000, $515,664, €461,793) for overcharging its clients.
Value Partners reports a very tough first half
The Hong Kong-based fund manager Value Partners Group has revealed a large drop in assets under management, revenue, net profit and earnings per share for the first half of 2016, while announcing new hires and a new UK office.
HK life sector faces ‘unsustainable’ growth, says report
Hong Kong’s life insurance market cannot sustain the high level of growth it has seen in recent years due to weak domestic demand and new regulations imposed by the Chinese government, a report by credit rating firm A.M. Best has found.
China approves Shenzhen-Hong Kong Stock Connect
China’s regulators have formally approved the Shenzhen-Hong Kong Stock Connect, which was expected to launch last year.
Sun Life Financial to buy FWD Hong Kong’s pension business
The Hong Kong arm of Canada’s Sun Life Financial is to acquire the pension business of FWD Group and enter into an exclusive 15-year distribution agreement that will allow Sun Life HK to distribute its pension products through FWD’s agency force in Hong Kong.