In the first half of 2020, far-reaching macro-economic and market repercussions in the wake of COVID-19 have had an inevitable dampening effect on global securities lending. A combination of unprecedented market turbulence and short-selling bans resulted in muted borrower appetite and, ultimately, led to slowing revenues.
The US bank’s HK securities business has been hit with sanctions for internal control failures. This reflects the growing regulatory burden, particularly for big firms, says a compliance specialist.
Australia has been a cheerleader for the upcoming passporting scheme, but industry players have claimed the country's taxation arrangements represent the biggest hurdle to its successful implementation.
Hong Kong’s Court of Final Appeal rejects an application for leave to appeal against a sentence for giving unlicensed securities advice via the social networking site.
An upgrade and new data centre for hosting services may spark interest in algorithmic trading strategies on Hong Kong stocks, as latency is reduced to below two milliseconds.
The first phase of the scheme to allow investors to hold and transfer securities in their own name is expected to be implemented in 2013.