Daily News Headlines

  • Daily News Headlines – 21 Aug 2020

    SFC commences criminal prosecution against Zeng Lingxi for obstruction of search operation

    SFC, 20 Aug 2020

    The Securities and Futures Commission (SFC) has commenced criminal proceedings at the Eastern Magistrates’ Court against Ms Zeng Lingxi for obstructing employees of the SFC in the execution of a search warrant and in exercising the powers under the Securities and Futures Ordinance (SFO) during a search operation in May 2020.

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    SFC issues quarterly report

    SFC, 20 Aug 2020

    To ensure that Hong Kong’s international financial markets function efficiently during the COVID-19 outbreak, the SFC stepped up its supervisory work and stress tests and allowed a measure of flexibility for some regulatory requirements. It also issued a joint statement with The Stock Exchange of Hong Kong Limited (SEHK) to provide guidance to listed companies on holding general meetings for shareholders when social distancing requirements are in effect.

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    HKEX Launches New Products and Microstructure Enhancements to its MSCI Index Derivatives Suite

    HKEX, 20 Aug 2020

    HKEX’s wholly-owned subsidiary, Hong Kong Futures Exchange Limited (HKFE), has expanded its licensing agreement with MSCI Limited to include the broad-based MSCI Taiwan 25/50 Index, and plans to launch US-dollar (USD) denominated MSCI Taiwan 25/50 Index Futures and MSCI Taiwan 25/50 Net Total Return Index Futures (collectively, “MSCI Taiwan 25/50 Index Futures”) on 28 September 2020, subject to regulatory approvals.

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    Singapore’s stock exchange to partner FTSE Russell for derivatives offerings after MSCI moves futures to Hong Kong

    SCMP, 20 Aug 2020

    The new partnership builds on existing FTSE Russell offerings on the Singapore bourse, which include index futures on the FTSE China A50 and the city’s benchmark FTSE Straits Times Index. The SGX began offering FTSE Taiwan index futures in July and plans to launch real estate investment trust futures tied to the FTSE EPRA Nareit Asia ex-Japan REITs Index at a later date.

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    MAS acts to stop misleading sale of critical illness plans

    MAS, 20 Aug 2020

    SOME unsavoury financial advisers have tried to upsell critical illness (CI) plans on exaggerated claims that more illnesses are due to be harder to claim - a move that has prompted the regulator to step in to put a stop to it.

    In response to queries from The Business Times, the Monetary Authority of Singapore (MAS) on Thursday said it received feedback on misleading insurance sales practices relating to fresh changes on CI coverage as outlined by the Life Insurance Association (LIA) Singapore.

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    Five former remisiers charged with false trading

    The Business Times, 21 Aug 2020

    A RING of five men rigged the prices of as many as 55 securities in Singapore over more than a year.

    For the alleged elaborate scheme, the former remisiers from various brokerages were charged in the State Courts on Thursday morning with false trading.

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