Hong Kong
People Moves | 3 May 16
PEOPLE MOVES: Aviva Investors, Brooks Macdonald, Old Mutual
Aviva Investors has bolstered its global equities team, with Brooks Macdonald luring its new investment director from Quilter Cheviot. Old Mutual Wealth has made two significant UK regional appointments, while Deutsche Bank’s Americas chief executive has announced his departure.
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.