The SFC found that the bank had engaged in serious misconduct, including excessive fees and soliciting clients for frequent transactions.
Hong Kong regulator fines Hang Seng Bank $8.5 million for investment product sales misconduct
Hong Kong's securities regulator said on Monday it had fined Hang Seng Bank HK$66.4 million ($8.52 million) for overcharging its clients while selling investment products. The Securities and Futures ...
Hong Kong’s Exchange Fund reports fifth-best annual return despite fourth-quarter loss
The Exchange Fund, Hong Kong's financial war chest for defending the currency peg, reported a loss for the fourth quarter because of falling bond prices and a valuation loss on non-US dollar assets.
Hong Kong’s Property Distress Is Catching Up With City’s Banks
Distressed property sales in Hong Kong are beginning to bite banks that used to be well protected against loan losses. Most Read from BloombergWhat Happened to Hanging Out on the Street?Vienna ...
Hong Kong regulator fines Hang Seng Bank $8.5 mln for investment product sales misconduct
Hong Kong's securities regulator said on Monday it had fined Hang Seng Bank HK$66.4 million ($8.52 million) for overcharging its clients while selling investment products.
Tech stocks lead Hong Kong decline, ending 6-day winning streak
Hong Kong stocks fell, snapping a six-day winning streak on broad losses among technology companies as the US unveiled a major artificial intelligence (AI) initiative. The Hang Seng Index fell 1.6 ...
Hong Kong prepares for influx of listings from mainland China
Investment banks in Hong Kong are expecting a rush of listed Chinese companies, led by battery maker CATL, to set up a secondary listing in the offshore territory. These “A to H” listings — from China ...
Hong Kong’s cash-strapped Urban Renewal Authority to adjust pace of projects
Speed of redevelopments will be reviewed to improve authority’s financial position, while property companies will be given more information on projects ahead of tenders.
European fintech firms eyeing Hong Kong as Asia base, Paul Chan says
Finance minister has wrapped up Davos trip, says leading fintech players showing interest in expanding to Hong Kong.
This Hong Kong Newspaper Seller Is Preparing for a Yuan Crash
Currency traders looking for their next big idea could do worse than talk to Wong, who runs a news stand in Hong Kong’s Central District.Most Read from BloombergWhat Happened to Hanging Out on the ...
Face Off: Is Hong Kong losing its status as an international financial hub?
What’s more, many people are debating whether Hong Kong will lose its status as an international financial hub. I think it will unless the government drops its travel restrictions soon.
U.S. IPO Weekly Recap: Venture Global Prices A Pared-Down IPO As More Sizable Deals Join The Pipeline
Seven IPOs and one SPAC priced this past week, as more sizable issuers filed to go public in the US. Read more here.
RBI Allowes Hong Kong Based HSBC To Open 20 Branches Across India
HSBC India has received approval from the Reserve Bank of India (RBI) to open 20 new branches, marking the largest expansion granted to any foreign bank in over a decade. These branches will be set up ...
Hong Kong fintech association unveils AI advisory council
It will serve as the industry voice to share best practices, amongst others. The Fintech Association of Hong Kong (FTAHK) has launched the FTAHK AI Strategic Advisory Council, a dedicated committee ...