Hong Kong
Hong Kong urges greater AML and KYC effort after Panama leak
Banks and financial institutions in Hong Kong must “strictly comply” with existing money laundering laws requiring them to disclose the identities of their customers and what they intend to do with their money.
China warns mainlanders against buying HK insurance products
The China Insurance Regulatory Commission (CIRC) has warned that Hong Kong insurance products are not protected under mainland law, as the mainland insurance industry tries to claw back business from Hong Kong.
SFC bans HSBC’s Chow for life
Hong Kong’s Securities and Futures Commission has banned former HSBC staff member Andrew Chow Ho-cheung from re-entering the industry for life after he was convicted for fraud and theft.
DeVere Group Hong Kong Ltd fined HK$2.5m by regulator
DeVere Group Hong Kong Ltd, which is no longer owned by the deVere Group, has been fined by the Hong Kong insurance regulator after a lengthy investigation into various breaches of its regulations.
The peculiarities of China bonds
Returns from mainland funds might look attractive to overseas investors, but be aware of the differences in product design and investment style, said Morningstar China director of manager research, Rachel Wang.