SFC
Hong Kong’s total assets under management soar 30% in 2017
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 special administrative region’s mutual fund industry, according to the December quarterly report from the Securities and Futures Commission.
Credit Suisse fined in Hong Kong
Hong Kong’s regulator has fined and reprimanded Swiss wealth manager Credit Suisse for internal control failures and selling unsuitable products.
Convoy raids put Hong Kong firms on notice
Hong Kong’s financial services firms can expect greater regulatory scrutiny as an unprecedented joint probe by the Independent Commission Against Corruption (ICAC) and the Securities and Futures Commission (SFC) paves the way for future investigations.
HSBC fined record HK$400m for Lehman Brothers-related failures
A Hong Kong tribunal has upheld disciplinary action taken against the local branch of HSBC Group’s Swiss private banking business for “material systemic failures” in relation to the sale of structured products, including from Lehman Brothers, in the run up to the global financial crisis.
Hong Kong regulator restricts use of ‘independent’
Hong Kong will introduce a code of conduct that will restrict asset management intermediaries from being able to use the term “independent” if they receive benefits from other parties.