HONG KONG/NEW YORK, Sept. 15 (Thomson Reuters Accelus) – The Hong Kong securities regulator’s legal troubles in bringing disciplinary action against New York-based hedge fund Tiger Asia Management has shown the limitations of its regulatory reach and signalled that funds may be safer operating from offshore, according to a source close to the proceedings. The source, a senior local financial lawyer close to the case, said that his advice for foreign funds that did not need to be licensed and regulated in Hong Kong was to forgo doing so in order to reduce the risk of disciplinary action by the territory’s Securities and Futures Commission.
Financial Regulatory Forum
(Business Law Currents) – The Hong Kong Securities and Futures Commission (SFC) is putting the clamp on white collar criminals. Seeking to deprive convicted offenders of their freedom as well as their illicit gains, the watchdog is cracking down hard on insider dealing in the special administrative region. Recent disciplinary actions initiated by the watchdog are sending a strong message that all inside deals, even small missteps, will be prosecuted to the full extent of the law.
By Daisy Ku and Rachel Armstrong
HONG KONG, Nov 29 (Reuters) – The lack of a unified Asian voice in the Group of 20 leading economies means the United States and Europe are driving the overhaul of global financial regulation with several of the new rules posing significant challenges for emerging markets, regulators said in a regional summit on Monday.