Third Issue of Regtech Watch
HKMA News, 12 Jun 2020
The Hong Kong Monetary Authority published today the third
issue of Regtech Watch, which outlines a series of use cases in the space of
Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT). This third
issue of Regtech Watch focuses on the potential application of technology in
supporting the effective implementation of Anti-Money Laundering and
Counter-Financing of Terrorism (AML/CFT) measures.
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SEC Charges Broker Who Defrauded Seniors Out of Almost $1
Million
SEC News, 12 Jun 2020
According to the complaint, Frederick Stow acted as the
veteran’s registered representative for more than three decades and inserted
himself over time into the veteran's personal and financial affairs. The
complaint alleges that in October 2015, Stow began making unauthorized sales of
securities from the veteran's individual retirement account. Stow allegedly
transferred the proceeds of those sales to his own bank account on 74 occasions
using falsified wire transfer forms.
Full Text: Click Here
National security law: Hedge fund guild says don’t write
off Hong Kong as a finance hub as new firms continue to set up
SCMP, 12 Jun 2020
At least six hedge fund managers have set up shop in Hong
Kong this year, according to the Alternative Investment Management Association
Although some Hong Kong firms are seeking licenses to expand
in Singapore, they aren’t abandoning their home base, said Jack Inglis, chief
executive officer of the group
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