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What were once peaceful demonstrations against a Hong Kong Bill that would, incidentally to its main purpose, have facilitated extradition to China for a wide range of offences, have become expensive, disruptive and divisive. Every day seems like a new turning point where protesters increase the lengths they are willing to go to, often seemingly with the specific intent of provoking a reaction from the police which the protesters then claim was unduly harsh. And the UN and the USA aren't helping.

A solicitor (attorney) who was advising a company on a proposed purchase of a large stake in another company has been accused of using non-public information to make share transactions and profit therefrom.

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The Hong Kong Monetary Authority (HKMA) today announces a new service schedule of the two “Coin Carts” under the Coin Collection Programme, for the period of 20 May 2019 up to 28 July 2019. The schedule and other details of the Programme are shown on the HKMA webpage (coincollection.hkma.gov.hk). (press release) .

Comment: Virtual banking is recognised, cryto-currencies are not.

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What is street food? If Singapore has its way, it's something that characterises the City state and marks it out as as something different. Malaysia is outraged - but other countries should be up in arms, too.

The Securities and Futures Commission (SFC) has issued restriction notices to nine brokers, prohibiting them from dealing with or processing certain assets held in their clients’ accounts which are related to suspected market manipulation in the shares of China Ding Yi Feng Holdings Limited (China Ding Yi Feng) between 2018 and early 2019

The SFC is at pains to point out that the nine brokers are not under any suspicion or any form of investigation.

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Hong Kong's Securities and Futures Commission has suspended the former responsible officer of China Merchants Securities (HK) Co., Limited for compliance failures.

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Hong Kong's Securities and Futures Commission (SFC) has reprimanded Guosen Securities (HK) Brokerage Company, Limited (Guosen) and fined it HKE15.2 million for failures in complying with Counter-money laundering and anti-terrorist financing (CFT) regulatory requirements when handling third party fund deposits

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In 2011, Moody’s Investors Service Hong Kong Limited which along with many associated companies is generally known only as "Moody's," and which has forgone the sobriquet "ratings agency" in favour of the much more honest "ratings organisation", issued a document entitled "Red Flags for Emerging-Market Companies: A Focus on China." Ignoring, for the sake of simplicity, that the document referred to warning signs and not red flags in the true sense, it contained material that the Hong Kong Securities and Futures Commission (SFC) decided was not apt. That started a battle which continues.

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The story of Warderly International Holdings Ltd is strange. Formed in 2002, it floated almost immediately. In 2007, shares were suspended when Hong Kong's Securities and Futures Commission raised questions about the management of the listed company and, as was learned much later, allegations of insider trading.

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In a notice issued by the Hong Kong Monetary Authority at or about 17:30 today, Hong Kong time, Carmen Chu, Executive Director (Enforcement and Anti Money Laundering) says "The adequacy of sanctions screening systems and controls is a supervisory priority for the HKMA, especially in the light of recent geopolitical developments." The notice is serious reminder to stored value facilities licensees that even though, mostly, the amounts involved are small, the regulatory requirements are not significantly diminished in some important areas.

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In this article, Ajay Shamdasani , Thomson Reuters Regulatory Intelligence, takes soundings on what might be expected from the FATF's Mutual Examination of Hong Kong, the results of which are expected soon.

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Once more, Hong Kong's Hang Seng website is the victim of a fraudulent copy. It does seem to happen quite often.

Hong Kong Monetary Authority has issued a warning notice and published a list of domain names that IT Security teams might wish to block at server / firewall level for both mail and web access.

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OFAC says "The U.S. Department of the Treasurys Office of Foreign Assets Control (OFAC) today announced a USD344,800 settlement with Richemont North America, Inc., d.b.a. Cartier (Richemont), headquartered in New York, New York, to settle Richemont's potential civil liability for four apparent breaches of the Foreign Narcotics Kingpin Sanctions Regulations, 31 C.F.R. Part 598 (FNKSR). "

Note "apparent" and "potential." The case has lessons for commercial entities, not only financial services businesses, all over the world. It also draws attention to the risks where the USA is out of step with the rest of the world.

Many people, especially those making statements on behalf of companies, are afraid to say "sorry" in case it becomes an admission of liability that brings with it adverse consequences. It's time for change.

Quietly, almost under the counter, the UK's Financial Conduct Authority is preparing itself for life outside the EU with a raft of agreements directly negotiated with regulators around the world.

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