Court convicts and fines former officer of Wonderful
Wealth Group Limited for unlicensed activities
SFC, 9 Jul 2020
The Eastern Magistrates’ Court today convicted Mr Simon Chan
Ying Ming, former officer of Wonderful Wealth Group Limited (WWGL), of holding
out as carrying on a business of dealing in futures contracts and asset
management without a licence in a criminal prosecution brought by the
Securities and Futures Commission (SFC).
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HKEX unveils new clearing service
The Standard, 10 Jul 2020
The new optional service will facilitate more efficient
pretrade checking of northbound sell orders and average pricing execution at
the fund manager level, according to HKEX. "As a service enhancement to
support Stock Connect, Master SPSA aims to address market demand for more
efficient pretrading checking and provide added benefit and convenience for
institutional investors and market participants," said HKEX's head of
markets Wilfred Yiu.
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FSDC considers tax refinements
The Standard, 9 Jul 2020
The Financial Services Development Council has advocated
more competitive tax treatment for family offices, such as expanding the
current tax exemption regimes to single-family offices, in a research report. The
financial services industry considers there to be discernible benefits from
cementing Hong Kong's role as a family office hub, said FSDC.
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ESMA Consults on Guidelines on Calculation of Positions Under
SFTR
ESMA, 9 Jul 2020
The aim of the Guidelines is to ensure consistency of
position calculation across TRs, with regard to the time of calculations, the
scope of the data used in calculations, the data preparation, the recordkeeping
of data and the calculation methodologies.
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ESMA Updates the ESEF Reporting Manual
ESMA, 9 Jul 2020
The ESEF Reporting Manual is aimed at all market
participants involved in the implementation of the requirements set out in the
ESEF Delegated Regulation, and in particular in the first-time preparation of
IFRS consolidated financial statements in Inline XBRL.
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