Daily News Headlines

  • News Headlines – 25-26 Nov 2020

    [Hong Kong] Report on “The Green Bond Market in Hong Kong: Developing a Robust Ecosystem for Sustainable Growth”

    HKMA News, 24 Nov 2020

    The Hong Kong Institute for Monetary and Financial Research (HKIMR) and the research arm of the Hong Kong Academy of Finance released an Applied Research report titled “The Green Bond Market in Hong Kong: Developing a Robust Ecosystem for Sustainable Growth”. HKIMR Applied Research reports are released on topics that are highly relevant to the financial industry and regulators in Hong Kong, and they aim to provide insights on the long-term development strategy and direction of Hong Kong’s financial industry.

    Full text: click here; Report: click here

    [Hong Kong] HKEX to introduce synapse, a settlement acceleration platform for stock connect

    HKEX News, 24 Nov 2020

    Hong Kong Exchanges and Clearing Limited (HKEX) has introduced HKEX Synapse, a new settlement acceleration platform for its landmark Stock Connect programme. It will automate and streamline post-trade processes, underpinning the growth of global investors accessing the Mainland China market via Stock Connect. Asset managers, brokers, global custodians, local custodians, and clearing participants will all benefit from the improved connectivity and enhanced capacity to handle the growing volume of trades flowing through Stock Connect. HKEX Synapse is an optional platform, and is expected to begin testing in 2021 with a group of pilot users.

    Full text: click here

    [Singapore] MAS Launches World's First Grant Scheme to Support Green and Sustainability-Linked Loans

    MAS News, 24 Nov 2020

    MAS announced the launch of the Green and Sustainability-Linked Loan Grant Scheme (GSLS), which will be effective as of 1 January 2021. The first of its kind globally, the GSLS seeks to support corporates of all sizes to obtain green and sustainable financing by defraying the expenses of engaging independent service providers to validate the green and sustainability credentials of the loan. The grant also encourages banks to develop green and sustainability-linked loan frameworks to make such financing more accessible to small and medium-sized enterprises.

    Full text: click here

    [Hong Kong] SFC bans Chan Shun King for 24 months

    SFC Enforcement News, 25 Nov 2020

    The SFC has banned Ms Chan Shun King, a former account executive of Sun Hung Kai Investment Services Limited (SHKIS), from re-entering the industry for 24 months from 25 November 2020 to 24 November 2022 for breaches of the SFC’s Code of Conduct. The SFC found that between October 2008 and August 2015, Chan effected transactions in two clients’ accounts on a discretionary basis without obtaining the clients’ prior written authorizations as well as the approval of SHKIS’s senior management.  In doing so, Chan not only breached the regulatory requirements on the authorization and operation of discretionary accounts under the Code of Conduct, but also SHKIS’s policies and procedures for discretionary accounts.

    Full text: click here

    [Hong Kong] SFC bans Pang Hon Pan for 21 months

    SFC Enforcement News, 25 Nov 2020

    The SFC has banned Mr Pang Hon Pan, a former private banking relationship manager of Standard Chartered Bank (Hong Kong) Limited (SCBHK) and a former senior relationship manager of Bank of Singapore Limited (BOS), for 21 months from 25 November 2020 to 24 August 2022. The SFC’s disciplinary action follows a referral by the HKMA.  The HKMA found in its investigation stemming from a self-reporting by SCBHK that Pang breached SCBHK’s internal policies from 17 April 2010 to 31 March 2017 by falsely declaring to SCBHK on seven occasions that he had no existing securities account.

    Full text: click here

    [Hong Kong] SFC supports Chief Executive’s initiatives

    SFC News, 25 Nov 2020

    The SFC welcomes the initiatives in the Chief Executive’s Policy Address to further deepen the mutual access between the Mainland and Hong Kong financial markets. The SFC also supports further promoting the development of private equity funds, family office business, and the real estate investment trusts (REIT) market in Hong Kong and will soon release its consultation conclusions on proposed regulatory changes that would give REITs more flexibility in making investments.

    Full text: click here

    [Hong Kong] Hong Kong widens Connect stock links for global funds to tap Star Market, tying city’s financial future closer to China’s heft

    SCMP, 25 Nov 2020

    Hong Kong will broaden its cross-border investment channels with mainland China’s stock exchanges, offering the city as the stepping-off point for international funds to gain access to one of the world’s best-performing capital markets. China-domiciled investors can invest in pre-revenue biotechnology companies on Hong Kong’s stock exchange while global funds will be allowed to tap shares on Shanghai’s Star Market via the expanded Stock Connect schemes.

    Full text: click here

    [Hong Kong] Hong Kong mulls easing restrictions on REITs

    The Standard, 26 Nov 2020

    Financial Secretary Paul Chan Mo-po yesterday said the government aims to promote real estate investment funds by offering more investment choices. The government is considering relaxing the investment restrictions of REITs, broadening the investor base, facilitating market operation through legislative and regulatory enhancements, and stepping up market promotion and investor education.

    Full text: click here