Why Don’t Hong Kong Companies Adopt Anticorruption Programmes — and What to Do About It?

The Hong Kong ICAC (Independent Commission Against Corruption) has been perhaps too successful in fighting corruption over the years. Yet, a wave of corruption cases and the recent dismissal of a senior business executive from the ICAC’s own ethics panel shows gaps in the system.

In this paper, we discuss what Hong Kong lawmakers can do to tighten up company anti-corruption efforts in the city-state. Making companies liable for corruption represents a first step. Making the ICAC’s Ethics Resource Centre more than a showcase — based on similar models from the US and other jurisdictions – will also help. 

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2354619

 

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How to Build Out a Shadow Banking Practice in Emerging Markets

An anathema to many regulators, shadow banking represents a multi-trillion opportunity for banks and the well-heeled alike. For finance companies looking to compete in places like South Africa, Russia, China, Chile, and Indonesia, shadow banking could provide an important beach head in trade finance, mortgage securitisation and other areas. In this brief, we mine the data – to find the most lucrative opportunities for shadow banks (and shadow bank wannabes) to earn in emerging markets. We also show how emerging markets can take advantage of ever-increasing regulation in the OECD to steal away clients.

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2429583ImageImageImageImage

Making Hong Kong an Even Better International Financial Centre

Hong Kong is one of the world’s largest and most developed financial centres. Yet, its exposure to the Chinese (Mainland’s) macroeconomy exposes our financial centre to unique risks. What can Hong Kong’s regulators do to help promote the growth of assets under management — while reducing risks from potential financial sector “spill-over”? In this paper, we provide 20+ recommendations aimed at making Hong Kong an even better international financial centre.

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2427609ImageImageImageImage