• Fri
  • Dec 19, 2014
  • Updated: 6:21pm

Financial Regulation

A fair deal for the small investor

A coal mine owned by Puda Coal, Shanxi province. In February, the US Securities and Exchange Commission referred to a GeoInvesting report when it alleged that Puda Coal chairman Zhao Ming effectively looted the company and left shareholders with nothing. Yet investment banks and bigger research houses make big fees. Photo: Reuters

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

Alexa Lam says Hong Kong and mainland regulators are ready to sign an agreement to allow cross-border fund sales. Photo: Edmond So

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 plans to buy back a 10 per cent stake in mutual fund house China Asset Management.

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 is collecting views on proposals to increase regulatory requirements covering the sale of complex and risky investment products to 'professional' investors.

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

 Ashley Alder. Photo: Sam Tsang

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

William McGovern: good signs

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

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

Wang Qishan

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

George Soros attends a forum in Hong Kong. Photo: Thomas Yau

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

Conviction endangers respect for the law

Under Beijing's capital flow restrictions, breaking up their money flows into thousands of little trickles and combining them again on the other side is how mainlanders move their money in and out.

Take note of what this ridiculous law actually says. It is a crime to handle money in a way that looks to others as if you are laundering it, whether or not you are actually doing so and whoever these others may be.

14 Mar 2013 - 6:41am 10 comments

Mainland China allows residents from Hong Kong and Taiwan to trade A shares

Hong Kong, Taiwan and Macau residents living in mainland will be allowed to open domestic trading accounts from April 1. Photo: AP

The rule, which takes effect on April 1, will allow them to open accounts for yuan-denominated stocks, or A shares, according to a statement on the website of China Securities Depository and Clearing Corp.

10 Mar 2013 - 8:55am

Don't blame the fat cats. Trail of cream leads back to you

HSBC chief Stuart Gulliver. Photo: Bloomberg

Let's put some perspective on this howl of outrage. HSBC chief executive Stuart Gulliver, for instance, got total compensation last year of US$14.1 million or 0.068 per cent of the bank's pre-tax earnings of US$20.6 billion.

10 Mar 2013 - 2:52am 12 comments

Facile criticism of financial body

Executive Councillor Laura Cha meet the media after the first meeting of Hong Kong's new Financial Services Development Council. Photo: David Wong

I refer to Jake van der Kamp's column ("Five points to ponder … over dinner in a fine restaurant", January 27) and various media reports about the Financial Services Development Council of which I am a member.

3 Feb 2013 - 6:50am

Profits dampener for mainland IPOs

Nearly a third of the companies that launched offerings last year would report earnings drops. Photo: Xinhua

Data from information provider Hexin Flush Information Network shows firms that listed last year had unexpectedly lacklustre earnings for the year.

31 Jan 2013 - 5:20am

Pages