Fund managers debate concerns that Hong Kong’s stock market is beholden to the immaturities of trading in mainland China.
Brokers prop up China stocks; Safe authorises new players for interbond market; and more.
Smaller private banks and hedge funds in Asia are prime targets for money laundering.
The Sydney-based insurer has appointed Mark Lingafelter to develop the region into a growth engine for QBE group. He will oversee underwriting, distribution and overall management.
The city's funds association has tabled proposals which would see savers offered tax incentives and cash rebates in return for higher levels of pension contributions. But the plans face a sceptical public.
Singapore and Hong Kong have the ability to make successful inroads into the financial technology market, backers of the cities say. It follows recent criticism of the cities' regulatory regimes and fintech prospects.
FSB calls for better coordination in China; HK financial firms given greater freedom; SFC recovers $23m; Japan reviews stewardship code; and SFC reappoints executives.
With Norway's sovereign wealth fund excluding Asian firms from its investment universe for ethical reasons, focus has switched to the region. But managers don't have high hopes for a surge in ethical Asian investing.
Regional rivals' lighter regulatory burden could make Hong Kong and Singapore also-rans in financial technology, say industry players. The two cities need to harness native innovation to catch up.
Funds domiciled in Hong Kong have surged in numbers over the past year, according to the city's securities regulator. The rise has been attributed to the lure of the Hong Kong-China mutual recognition scheme.
Net fund sales in the city fell by 50% in the first half of this year, new industry data shows. The sharp fall has been blamed on global economic uncertainty, but an association is hopeful sales will revive later this year.
CSRC chief’s job at risk; HKMA fines Indian bank; FSB delays risk assessment protocols; Asic sees strong fintech progress; and SEC to enforce pay ratio disclosure.