Hong Kong fines Coutts bank for violating terrorist rules

Hong Kong — The Hong Kong Monetary Authority said on Tuesday it had ordered the local branch of private bank Coutts to pay a fine of HK$7m ($900,800) for breaching anti-money-laundering and counterterrorism rules. The authority said the move followed an ... ( read original story ...)

AIIB benefits financial sectors

Hong Kong’s professional and financial services sectors will benefit from the Asian Infrastructure Investment Bank’s operations. Acting Secretary for Financial Services & the Treasury James Lau made the statement to legislators today, saying Hong Kong ... ( read original story ...)

HKMA fines Coutts HK$7m for breaching money laundering rules

The bank also did not do sufficient due diligence before establishing a business relationship with customers. Hong Kong clients can pick banks with varying compliance rules In deciding the disciplinary action, the authority considered “it needed to send ... ( read original story ...)

Hong Kong slaps property tax to close loophole

He emphasized the government's efforts in raising housing supply, while financial secretary Paul Chan said he expects the potential supply of new flats in Hong Kong over the next three to four years to exceed the December estimate of 94,000 units ... ( read original story ...)