Hong Kong national security laws shouldn't harm banks' operations, regulator says
Source: Reuters
BUSINESS NEWS JULY 19, 2020 / 7:30 AM / UPDATED 2 HOURS AGO
HONG KONG (Reuters) - Hong Kong’s capital markets regulator sought on Sunday to reassure global banks in the city that China’s new national security laws for the financial hub would not harm their operations.
The “free flow” of information is one of the “fundamental attributes” that have made Hong Kong an international financial centre, and this is not expected to change under the new laws, said Securities and Futures Commission chief executive Ashley Alder.
The regulator “would like to clarify that it is not aware of any aspect of the (new laws) which would affect or alter the existing ways in which firms and listed companies originate, access, disseminate and transmit financial market and related business information under the regulatory regime it administers,” Alder said in a statement.
The city’s major investment banks have been gauging the impact of the laws on their operations, including the independence of analysts’ research.
Reporting by Scott Murdoch in Hong Kong; Editing by William Mallard
Read more: https://www.reuters.com/article/us-hongkong-security-regulator/hong-kong-national-security-laws-shouldnt-harm-banks-operations-regulator-says-idUSKCN24K0F2?il=0
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The Hong Kong regular has held discussions with “globally active financial institutions,” centring on their concerns about “the potential ambit and effect” of the laws on their businesses in the city, Alder said.
Alder said Hong Kong’s rules on short-selling, hedging strategies, exchange traded and over the counter derivative markets would not be altered by the security laws.
So Alder, greed is good and communists and a authoritarian dictator running everything is good also good, you know cronies getting a cut of the pie, especially when cronies in the Hong Kong government and corporations where lets say in cahoots with the communists and really fomenting to undermine the agreement, which caused the protesting ...............I got a bridge I want to sell, nice try Alder..............fascism is still fascism...................
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