MyComplianceOffice Blog

Hong Kong’s Securities and Futures Commission (SFC) has published its consultation conclusions on proposed amendments to enforcement-related provisions of the Securities and Futures Ordinance (SFO) (Note 1).

At a recent compliance round-table event in Hong Kong, compliance experts, executives, and chief compliance officers shared their firms’ challenges in keeping pace with regulatory change within the financial sector. They also discussed the increasing demands placed upon compliance teams, emerging opportunities, and the role of technology in more effectively managing regulatory risk and upholding compliance obligations.

The countdown is on!  With July 2023 coming up fast, is your firm prepared for the UK Financial Conduct Authority's new Consumer Duty?

As the final deadline rapidly approaches, the FCA continues to release guidance to firms. In May the agency posted a  multi-firm review of where Consumer Duty implementation plans stand to date and Dear CEO Letters with guidance specific to industry sectors. In June, with just one month to go, the agency provided a list of ten questions that firms should be asking themselves to ensure they are on track and making the most of the remaining time.  

After challenges with strict COVID restrictions and political issues in the last several years, Hong Kong is fighting to bolster its status as a global financial hub - and prove its unique advantage as the gateway between mainland China and the rest of the globe. As a result, technological developments and the regulations required to stay ahead of a rapidly evolving financial landscape are now a priority in the region.

A consistent theme across sessions at the 2023 SIFMA Compliance and Law Annual Seminar was change. Change is constant in the financial services industry. And when you're dealing with constant change, there’s no time for complacency