The Hong Kong Securities and Futures Commission (SFC) has informed the public that it has banned Mr Ngo Wing Chun, a former relationship manager of Hongkong and Shanghai Banking Corporation Limited (HSBC), from re-entering the industry for 12 months from 20 September 2018 to 19 September 2019 for unauthorized transfer of customer data. The SFC…
Read more
The Securities and Futures Commission (SFC) announced that has banned Mr Li Bo, a former employee of The Hongkong and Shanghai Banking Corporation Limited (HSBC), from re-entering the industry for eight months from 9 June 2017 to 8 February 2018 for breaching the SFC’s Code of Conduct. The disciplinary action follows an SFC investigation which…
Read more
Quantexa, the disruptive big data and analytics company backed by HSBC and Albion Ventures, announced that has opened a new office in Brussels. Further offices in Sydney and New York are due to open within the next 12 months. Following on from last month's $3.3 million fund raising, Quantexa's expansion reflects a growing customer base…
Read more
The Securities and Futures Commission (SFC) has banned Ms Li Lee, a former employee of The Hongkong and Shanghai Banking Corporation Limited (HSBC), from re-entering the industry for life following her criminal convictions. The District Court earlier found that Li, who was responsible for selling and promoting investment and insurance products at HSBC at the…
Read more
Appears that somebody's been following R3's footsteps lately... a group of seven banks has agreed in principle to develop a shared platform that aims to make domestic and cross-border commerce easier for European small and medium-size (SME) businesses by harnessing the power of distributed ledger technology. Deutsche Bank, HSBC (HSBC also joined R3 as well…
Read more
The global clearing house LCH has announced today that it will be launching a new service for the non-cleared derivatives market. LCH SwapAgent will benefit from LCH’s expertise in serving and managing risk for the cleared rates & FX derivatives market, providing market participants with a number of solutions designed to materially improve standardisation, efficiency…
Read moreThe Securities and Futures Commission (SFC) has banned Ms Chen Chia Hui, a former employee of The Hongkong and Shanghai Banking Corporation Limited (HSBC), from re-entering the industry for life following her conviction for bribery. The District Court found that Chen, a relationship manager of HSBC at the material time, accepted a secret commission in…
Read moreCLS Group, a provider of risk management and operational services for the global foreign exchange (FX) market, has announced its intent to release a payment netting service, CLS Netting, for buy-side and sell-side institutions’ FX trades that are settled outside the CLS settlement service. David Puth, CEO of CLS, commented: Working with our settlement members…
Read moreThe Securities and Futures Commission (SFC) has reprimanded and fined The Hongkong and Shanghai Banking Corporation Limited (HSBC) $2.5 million for regulatory breaches and internal control failings related to position limit failures. The disciplinary action follows an SFC investigation into the holding by HSBC of open positions in Hang Seng China Enterprises Index futures and…
Read moreBank Forex executive Mark Johnson, HSBC's global head of foreign exchange cash trading in London has reportedly been arrested at New York's John F. Kennedy airport, charged with front-running customer orders. According to press reports, Mr. Johnson has become the first person to be charged in the Justice Department's three-year probe into forex rigging at global banks. He…
Read more