July was a significant and eventful month for Hong Kong citizens in the wake of the ongoing anti-extradition protests, but related private wealth asset outflows have proved “marginal” while industry insiders are still divided on the implications of China’s response. Although the current cycle of protests began recently in June, market outlook and performance were not affected overnight. According to the Asset and […]

The post July Regulatory Round-up: SFC notes 2% drop in 2018 PWM AUM; HKMA guidance on loss-absorption products stirs uncertainty; China encourages foreign participation in onshore financial industry appeared first on Asian Private Banker.

Following a series of anti-extradition bill protests and violence in Yuen Long, the State Council’s Hong Kong and Macau Affairs Office held a press briefing on Tuesday, reiterating its support for the Hong Kong government and commending the police force while making no indication on whether or not an independent investigation committee will be established. The response from the private […]

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The proposed extradition bill has made headlines worldwide this week, and Hong Kong’s private wealth management industry is worried investors might begin to shift their assets elsewhere amid the turmoil, sources told Asian Private Banker. According to the proposed amendments to Hong Kong’s Fugitive Offenders Ordinance, the city’s chief executive, Carrie Lam, would be imbued with the authority to transfer […]

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