Court of Final Appeal dismisses leave application of Andrew Left
SFC, 8 Jul 2020
In August 2016, the Market Misconduct Tribunal (MMT) found
that Left was culpable of market misconduct in the publication of a report on
Evergrande Real Estate Group Limited in June 2012. The MMT imposed several orders on Left,
including a “cold shoulder” order banning him from trading securities in Hong
Kong for five years.
Full Text: Click Here
Circular to Licensed Corporations - Updated Technical
Specifications for OTC Derivatives Trade Reporting
SFC, 8 Jul 2020
Hong Kong Trade Repository (HKTR) issued a notice (Notice)
about updated specifications for over-the-counter (OTC) derivatives trade
reporting. The key changes made in the revised AIDG include (i) updates of
coding schemes supported in the HKTR reporting templates, (ii) modification of
some input fields) checking and (iii) changes in some business validation
rule(s). Reporting entities are reminded to read the revised AIDG for the
details of the changes and their obligation to report all transactions
involving the updated coding schemes supported by the HKTR.
Full Text: Click Here;
Notice: Click Here
How China’s Greater Bay Area wealth management connect
could help millionaires move their money across borders
SCMP, 9 Jul 2020
Wealth Management Connect, which was first proposed two
years ago, still lacks a launch date, list of products and investment quota
size. Size of quota, launch date as well as decisions on movement of people and
capital still need to be fleshed out. Cross-border banking partnerships seen as
key to implementation.
Full Text: Click Here
ESMA Updates the CSDR Q&As - July 2020
ESMA, 8 Jul 2020
The latest Q&A relates to the implementation of the
settlement discipline regime and clarifies that, for the purpose of initiating
a buy-in process, the concept of “business days” under CSDR refers to the
definition given in the rules of the securities settlement systems where the
settlement fail occurred.
Full Text: Click Here
ESMA Updates its Q&As on MIFID II and MIFIR Transparency
- July 2020
ESMA, 8 Jul 2020
The new Q&A document provides technical clarifications
for the performance of the mandatory systematic internaliser (SI) test. The
Q&A specifies how the number of transactions and the nominal amount traded
of a derivative shall be allocated when a derivative contract changes over the
observation period from one sub-class to another.
Full Text: Click Here
ESMA Updates Q&A on MIFIR Data Reporting (July 2020)
ESMA, 8 Jul 2020
The Q&A provides clarifications in relation to the
reporting requirements for submission of transaction reports under Art. 26 of
MiFIR and RTS 22. In particular, the new Q&A provides two reporting
scenarios where an Investment Firm executes a transaction through an execution
algorithm provided by another Firm.
The amendments to the existing Q&A on MiFIR data
reporting becomes effective from 8 July 2020.
Full Text: Click Here
EIOPA Guidelines on outsourcing to cloud service
providers
FCA, 8 Jul 2020
The FCA has notified EIOPA that the Guidelines are not
applicable to regulated activities within the UK’s jurisdiction, as they will
enter into force on 1 January 2021, after the EU withdrawal transition period
is expected to end.
Full Text: Click Here
