You will find here all our publications dedicated to the Financial Services industry.
Regulatory compliance and risk management services for securities brokerage companies regulated by the SFC
This publication provides an overview of the key regulatory requirements of the Hong Kong Securities and Futures of Commission for companies in the securities industry (i.e. brokers / dealers / margin financiers). Mazars offers a wide range of financial advisory services to assist you in achieving compliance with rules and regulations relevant to you.
Regulatory compliance and risk management services for asset managers in Hong Kong
As one of the most vibrant financial services centres in the world, Hong Kong has experienced significant growth in its asset management industry in recent years. The demand for quality and cost-effective supporting services in risk management and regulatory compliance is expected to grow steadily into 2021 and beyond.
Preparation for regulators’ (HKMA / SFC / IA) on-site inspections and reviews
Mazars in Hong Kong issued the latest Financial services publication regarding the Preparation for regulators’ (HKMA / SFC / IA) on-site inspections and reviews.
Selling practices of authorized institutions in respect of investment and insurance products
On 30 September 2020, the Hong Kong Monetary Authority (“HKMA”) published a report on the findings of a mystery shopping programme (“MSP”) under which the selling practices in respect of investment and insurance products of 20 selected banks were covered. Based on the results of the MSP, apart from a few isolated samples, the banks were generally in compliance with the Know-Your-Customer (“KYC”) procedures, suitability assessment and implementation of additional safeguards for less sophisticated customers (including pre-investment cooling-off period) in respect of the sale of investment products.
Suitability obligations/investment product selling practices
Investor protection has always been a priority for regulators all over the world and the cornerstone for investor protection is how suitability obligations of financial institutions selling investment products are being discharged.
Revised HKMA requirements on recovery planning
All Authorized Institutions operating in Hong Kong are required to develop and maintain a recovery. Recovery plan refers to a range of possible actions an AI may feasibly take in a range of stressful situations without considering any form of public support except the eligibility to Hong Kong Monetary Authority liquidity facilities.
Internal audit services for financial institutions
Financial institutions are operating in increasingly complex, uncertain and evolving environment. They also have multiple stakeholders that follow diverse and sometimes diverging objectives. Regulators also need to be assured that sound business practice is in place, and that business operations are in compliance with regulatory requirements. Therefore, financial institutions must maintain under a sound system of control and robust processes. The Internal Audit function provides objective and independent assurance on the adequacy and effectiveness of this structure.
Licence application with the Securities and Futures Commission
This publication provides an overview of the Securities and Futures Commission’s (“SFC”) licensing regime, key features of licensing requirements and major assessment criteria of the SFC for any corporation or person who wishes to apply for an conduct regulated activities under the Securities and Futures Ordinance in Hong Kong.
Download the file below for more information.
Download the file below for more information.
Application for a banking licence with the Hong Kong Monetary Authority
This publication provides an overview of the Hong Kong Monetary Authority’s (“HKMA”) authorization regime and the minimum criteria for authorization of the HKMA for any person who wishes to apply for a banking license in Hong Kong. The brochure will cover the area related to authorization of virtual banks as HKMA expects virtual banks will promote the development of financial technology and innovation, as well as financial inclusion for retail customers, including small and medium-sized enterprises.
Concurrent SFC-HKMA thematic review of spread charges and other practices
On 18 May 2020, the Securities and Futures Commission (“SFC”) and the Hong Kong Monetary Authority (“HKMA”) announced that a concurrent thematic review on selected intermediaries in the second half of 2020 will be carried out to assess their spread charges and other practices as well as compliance with requirements governing the disclosure of trading capacity and monetary benefits under the Code of Conduct for Persons Licensed by or Registered with the SFC (“the Code of Conduct”).