The following is issued on behalf of the Hong Kong Monetary Authority: The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Bank of Singapore Limited on suspic… read more
The following is issued on behalf of the Hong Kong Monetary Authority: The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by The Bank of East Asia, Limited on fraudulent … read more
A woman was fined $4,000 at the Eastern Magistrates’ Courts today (June 25) for contravening the Hotel and Guesthouse Accommodation Ordinance.
The courts heard that in October last year, officers of the Office of the Licensing Authority (OLA), the Home Affairs Department, inspected a suspected unlicensed guesthouse on Gage Street in Central. During the inspection, the OLA officers posed as lodgers and successfully rented a room in the guesthouse on a daily basis.
According to the OLA’s records, the guesthouse did not possess a licence under the Ordinance on the day of inspection. The woman responsible for managing the premises was charged with contravening section 5(1) of the Ordinance.
A department spokesman stressed that operating or managing an unlicensed guesthouse is a criminal offence and will lead to a criminal record. Upon conviction, the offender is liable to a maximum fine of $200,000 and two years’ imprisonment.
The spokesman appealed to anyone with information about suspected unlicensed guesthouses to report it to the OLA through the hotline (Tel: 2881 7498), by email (hadlaenq@had.gov.hk), by fax (2504 5805) using the report form downloaded from the OLA website (www.hadla.gov.hk), or through the mobile application “Hong Kong Licensed Hotels and Guesthouses”. read more
Following convictions in three similar cases in early June this year, there have been two more convictions for illegal import of hazardous waste. The shipments, from the United Arab Emirates and Thailand, were intercepted at Hong Kong International Airport (HKIA) and the Kwai Chung Container Terminals (KCCT). The two importers involved, namely Uniall Trading International Limited and Everywhere Transportation Limited, were convicted at Eastern Magistrates’ Courts and Fanling Magistrates’ Courts yesterday (June 24) and today (June 25) for contravening the Waste Disposal Ordinance (WDO) and fined a total of $28,000.
The Environmental Protection Department (EPD) has all along been striving to intercept hazardous waste entering Hong Kong illegally through different channels. In addition, the department has been proactively strengthening the co-operation and exchange of intelligence with the Customs and Excise Department (C&ED). With the assistance of the C&ED, the EPD intercepted a batch of air cargoes and two sea containers at HKIA and the KCCT respectively in December last year. The air cargoes and the sea containers were claimed to include computer parts, used photocopier parts and more. After inspection, they were found to be loaded with hazardous waste, including waste printed circuit boards and waste toner cartridges, with a total market value of about $150,000. The EPD immediately returned the intercepted hazardous waste to the places of origin and notified the local enforcement authorities concerned about the return shipments. The department also instigated prosecutions against the two importers under the WDO.
An EPD spokesman stressed that waste printed circuit boards are hazardous electronic waste containing various heavy metals and other toxic chemical substances. They are classified as chemical waste and are regulated under the laws on chemical waste disposal. Improper handling of hazardous waste, including waste toner cartridges, will also cause harm to the environment and public health. The EPD will continue to rigorously combat the illegal import and export of hazardous waste, bring offenders to justice and prevent Hong Kong from becoming a distribution hub for illegally imported and exported waste.
The spokesman reminded importers of the waste recycling trade not to illegally import (including import into or transshipment through Hong Kong) or export hazardous waste. According to the WDO, it is an offence for anyone to import or export hazardous waste without obtaining a valid permit beforehand. First-time offenders are liable to a maximum fine of $200,000 and six months’ imprisonment. For subsequent offences, offenders are liable to a maximum fine of $500,000 and two years’ imprisonment.
For more information about the control of chemical waste, please visit the EPD’s website: www.epd.gov.hk/epd/english/environmentinhk/waste/guide_ref/guide_cwc.html.
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority is pleased to announce the publication of the Global Financial Innovation Network’s (GFiN) “One Year On” report.
The GFiN is a network of international regulators and related organisations committed to supporting financial innovation and to creating a framework for co-operation between regulators to share experiences and approaches to innovation.
The GFiN has rapidly grown over the past year from its 12 founding members, to be a global dialogue with 35 Member Regulators and 7 Observers from 21 jurisdictions. And it continues to grow.
The “GFiN – one year on” report sets out what the GFiN has been doing over the past year, the challenges it has faced, achievements, and its ambitions for the future. It is also to show that it is listening to stakeholders, and welcomes feedback in order to ensure that the GFiN continues to add value.
GFiN members look forward to the next year of engagement and to improving ways of working together for the benefit of innovative firms and other stakeholders.
Key facts: