Hong Kong regulators vow strict compliance as Beijing tightens capital controls

Hong Kong’s financial regulators have pledged to uphold strict compliance standards and crack down on illicit activity, as Beijing intensifies efforts to tighten oversight of cross-border capital flows.
“We will always be steadfast guardians of the market, driving development and encouraging innovation while never compromising on our bottom line,” said Kelvin Wong Tin-yau, chairman of the Securities and Futures Commission (SFC) of Hong Kong.
“Through rigorous regulatory systems, forward-looking...