• Wed
  • Jul 30, 2014
  • Updated: 3:19am

Financial Regulation

A fair deal for the small investor

Dan David exposed fraud by Chinese companies, writes Kevin McQueen.

Monday, 25 June, 2012, 12:00am

A Sino-British pact on cross-border fund sales? Not so fast

As China opened up its economy to the world, Hong Kong has long enjoyed the exclusive right to develop certain new products and services.

Now there are straws in the wind that the mainland may not only sign a mutual recognition agreement with Hong Kong to allow the selling of fund products in each other’s markets but may soon also sign a similar accord with Britain.

20 Jan 2014 - 10:01am

Chinese broker lifts stake in asset firm

Citic Securities, the mainland's largest brokerage, plans to buy back a 10 per cent stake in mutual fund house China Asset Management, in a move to boost its sliding margins.

The company said it would spend up to two billion yuan (HK$2.53 billion) to buy the stake from Wuxi Guolian Development Group, raising its ownership of the asset management firm to 59 per cent.

23 May 2013 - 4:27am

Brokers fear burden of new investor rules

The Securities and Futures Commission last week released a consultation paper to collect views over the next three months on a range of proposals to increase regulatory requirements covering the sale of complex and risky investment products to "professional" investors, who are defined as experienced investors with portfolios valued at more than HK$8 million.

23 May 2013 - 4:39am

SFC reforms aim to boost safeguards for investors

Under the proposals released yesterday for a three-month consultation, banks and brokers would be required to carry out suitability tests to assess if certain complex products are too risky for these clients.

16 May 2013 - 4:03am

Reforms in tax havens aid sleuths

As opaque networks of secretive companies linking offshore havens with Hong Kong are forced to become more transparent, it will be easier to track down assets hidden in jurisdictions such as the British Virgin Islands (BVI), says William McGovern, a former official with US regulator, the Securities and Exchange Commission.

3 May 2013 - 4:22am

Hong Kong businesses may be affected as EU urges tax havens to open their books

At a meeting on May 13, EU finance ministers may reach an agreement on measures to eradicate tax evasion and tax havens, said Finnish Finance Minister Jutta Urpilainen at an international seminar on tax fraud and evasion in Helsinki on Monday, the Finland Times reported.

2 May 2013 - 3:47am 2 comments

Illegal interbank bond dealers face clampdown in China

Illegal trading of bonds on the interbank market is being targeted by law enforcement authorities and financial regulators on the mainland, a move likely to unearth a clutch of unethical money managers. The central bank held a meeting with the heads of the mainland's commercial lenders yesterday to discuss the control of illegal bond transactions.

25 Apr 2013 - 5:36am

George Soros tempers praise for Beijing with warning on risks

Billionaire investor George Soros, who has fallen foul of governments as far afield as Malaysia and Britain during a 60-year career, has praised China's system of financial regulation. But he warned that Beijing faces "exceptional difficulties" in its economic transition in the near term.

7 Apr 2013 - 9:30am 3 comments

Beijing to ease rules over securities firms

The China Securities Regulatory Commission (CSRC) is also contemplating a trial to allow Hong Kong, Macau and Taiwanese financial institutions to hold a stake of as much as 51 per cent in mainland securities firms in Shanghai, Shenzhen and other designated cities.

14 Mar 2013 - 7:47am