Daily News Headlines

  • Daily News Headlines – 20 Jul 2020

    Policy Statement by the Securities and Futures Commission

    SFC, 19 Jul 2020

    The SFC would like to clarify that it is not aware of any aspect of the NSL which would affect or alter the existing ways in which firms and listed companies originate, access, disseminate and transmit financial market and related business information under the regulatory regime it administers. For example, the principles applicable to, and methodologies used by, analysts in terms of the sources of information and data they use and the manner in which their views and opinions are expressed in their reports should remain unaltered.

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    Statements issued by the Financial Action Task Force (For SVF Licensees/AIs)

    HKMA, 17 Jul 2020

    In response to the COVID-19 pandemic, the FATF decided on a general pause in the review process for the list of “high-risk jurisdictions subject to a call for action” and “jurisdictions under increased monitoring”. Stored value facility (SVF) licensees should therefore continue to refer to the HKMA circular on “Statements issued by the Financial Action Task Force” dated 11 March 2020, in particular, applying the enhanced due diligence measures and other counter-measures in relation to Iran and the Democratic People’s Republic of Korea.

    SVF Licensees: Click Here; Ais: Click Here

    Circular to Money Service Operators - Anti-Money Laundering / Counter-Terrorist Financing (1) United Nations Sanctions (ISIL and Al-Qaida) Regulation (2) United Nations (Anti-Terrorism Measures) Ordinance

    HKMSOA, 17 Jul 2020

    An updated list of “individuals, groups, undertakings and entities” was published on the website of the Commerce and Economic Development Bureau (“CEDB”) under section 25 of the United Nations Sanctions (ISIL and Al-Qaida) Regulation (“Regulation”) (Cap. 537CB) on 17 July 2020.

    An updated list specifying terrorists and terrorist associates designated by the UNSC was published under section 4 of the United Nations (Anti-Terrorism Measures) Ordinance (“the UNATMO”) (Cap. 575) in the Gazette on 17 July 2020.

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    Securities regulator takes over three companies

    China Daily, 19 Jul 2020

    The China Securities Regulatory Commission announced on Friday the takeover of New Times Securities, Guosheng Securities and Guosheng Futures until July 16, 2021, after the companies were found concealing information about controllers or shareholder structures and being mismanaged.

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    ESMA Provides Guidance On Waivers From Pre-Trade Transparency

    ESMA, 17 Jul 2020

    The guidance published today provides stakeholders with information on ESMA’s assessment of features frequently encountered in the context of issuing opinions on waivers from pre-trade transparency over the last three years. The opinion aims to contribute to the consistent application of waivers from pre-trade transparency across the Union. The document will be updated should ESMA encounter further frequent issues in the context of assessing waiver notifications.

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    SEC Files Fraud Charges Against Co-Founder of IIG

    SEC, 17 Jul 2020

    The Securities and Exchange Commission today charged David Hu, the co-founder and chief investment officer of International Investment Group LLC (IIG), a former registered investment adviser, with fraud for his role in a $60 million Ponzi-like scheme.

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