- In FAQ section on Loan Originating Qualifying Investor AIF questions ID 1079, 1081,
1117, 1118 deleted, question ID 1119 is amended, new question, ID 1128, included.
- 1128 states that a QIAIF can’t invest in derivatives, other than for hedging purposes.
- Fined Deutsche Bank and its wholly-owned subsidiary Deutsche Securities Asia.
- Re short position reports, unlicensed activities and segregation of client money.
- Breach of reporting requirements, led to a failure to report 792 short positions.
- Short position at close of trading on HKEX, must be reported in set timeframe.
- Published 49 research reports on futures contracts, without Type 5 registration.
- Firm that distribute research on futures is required to be registered or licensed
with the SFC to carry on Type 5 advising on futures contracts regulated activity.
- Did not segregate client monies in 117 incidents between January 2010 and 2014.
- Required to pay client money into a segregated account, within day of receipt.
- Under the resolution, SFC publicly reprimanded and fined bank total of $8.3mn.
- SFC took into account self-reporting and cooperation in resolving SFC concerns.
- Remedial measures to strengthen internal controls, to avoid similar recurrence.
- Undertaking to provide report prepared by internal audit team after 12 months.