The Centre for Health Protection (CHP) of the Department of Health today (October 18) reported the latest number of dengue fever (DF) cases, and strongly urged the public to maintain strict environmental hygiene, mosquito … read more
The following is issued on behalf of the Hong Kong Monetary Authority:
CMU OmniClear Limited (CMU OmniClear), a wholly-owned subsidiary of the Hong Kong Monetary Authority (HKMA) and SIX signed a Memorandum of Understanding (MOU) today (October 18) for co-operation in securities depository and settlement to foster the growth of cross-border investment.
Based on the MOU, the two parties will collaborate in a joint international securities settlement and safekeeping, develop a closer working relationship, and maintain channels for the exchange of information.
The CEO of CMU OmniClear, Mr Stanley Chan, said, “Today marks an important milestone for the CMU OmniClear in developing into a regional central securities depository (CSD) in Asia. With the CMU OmniClear’s unique gateway function between China and global markets, we believe our new partnership with SIX will help Chinese investors to tap into the opportunities in the Swiss and international markets, and allow Swiss investors enhanced access to the Hong Kong and Mainland markets.”
The CEO at SIX, Mr Jos Dijsselhof, said, “We are very pleased with this agreement with such a relevant entity as CMU OmniClear, which we are convinced will be positive for both parties and both areas. Asia is a part of the world where we explore business opportunities with great potential.”
The scope of the co-operation features areas such as mutual support for investment in the Hong Kong, Swiss and international markets. It also includes the mutual exchange of information on operation and market as well as mutual development of business opportunities.
About CMU OmniClear Limited
CMU OmniClear Limited is a wholly owned subsidiary of the Exchange Fund established to operate the Central Moneymarkets Unit system (CMU) on behalf of the HKMA. Since 1990, the CMU has provided secure and efficient clearing, settlement and custodian services for Hong Kong’s multi-currency debt securities and those in international markets. Over the years, the CMU has continuously established linkages with regional and international central securities depositories to expand its issuer and investor reach globally. With the launch of Bond Connect scheme in 2017, the CMU has become a pivotal financial market infrastructure serving both onshore and offshore market participants.
Please visit www.cmu.org.hk for more information about the CMU.
About SIX
SIX provides and operates stable and efficient infrastructure for the Swiss and Spanish financial centres, thus ensuring access to the capital markets and the flow of information and money between financial market players. As a global provider of financial information, SIX delivers high-quality reference, pricing, corporate actions, and ESG data and provides regulatory services and indices to clients around the world. The company is owned by its users (more than 120 banks) with a workforce of 4 160 employees and a presence in 19 countries.
Please visit www.six-group.com for more information about SIX.
The Commissioner of Customs and Excise, Ms Louise Ho, and the Director-General of the International, Hong Kong and Macau Training Center of the National Academy of Governance (NAG), Mr Xie Yutong, today (October 18) signed… read more
The Immigration Department (ImmD) mounted an anti-illegal worker operation to combat illegal workers providing cross-boundary purchasing and delivery services in Hong Kong on October 15. Three Mainland visitors, suspected of being illegal workers, were arrested.
Immigration officers found that social media platforms have been utilised by individuals from the Mainland to advertise cross-boundary purchasing and delivery services in Hong Kong. After an in-depth investigation and intelligence analysis, ImmD officers identified several suspected illegal delivery workers and initiated an operation. Officers disguised themselves as customers to book cross-boundary purchasing and delivery services from these Mainland delivery workers. The suspects were subsequently arrested while providing cross-boundary delivery services in Hong Kong. The arrested illegal workers comprised two men and one woman, aged 32 to 33.
The illegal workers were charged at the Shatin Magistrates’ Courts yesterday (October 17) with breaching the conditions of their stay. They pleaded guilty to the charges and were sentenced to two months’ imprisonment.
“The ImmD will continue to strengthen enforcement actions against illegal employment and seek various means to publicise the serious consequences of employing illegal workers in order to raise public awareness of the issue. The ImmD will conduct target-oriented cyber patrols and take prompt enforcement actions if any person is found organising, arranging or instigating others to commit serious crimes such as employing illegal workers,” an ImmD spokesman said.
The spokesman warned, “Any person who contravenes a condition of stay in force in respect of him/her shall be guilty of an offence. Also, visitors are not allowed to take employment in Hong Kong, whether paid or unpaid, or establish or join in any business, without the permission of the Director of Immigration. Offenders are liable to prosecution and upon conviction face a maximum fine of $50,000 and up to two years’ imprisonment. Aiders and abettors are also liable to prosecution and penalties.”
The spokesman reiterated that it is a serious offence to employ people who are not lawfully employable. Under the Immigration Ordinance, the maximum penalty for an employer employing a person who is not lawfully employable, i.e. an illegal immigrant, a person who is the subject of a removal order or a deportation order, an overstayer or a person who was refused permission to land, has been significantly increased from a fine of $350,000 and three years’ imprisonment to a fine of $500,000 and 10 years’ imprisonment to reflect the gravity of such offences. The director, manager, secretary, partner, etc, of the company concerned may also bear criminal liability. The High Court has laid down sentencing guidelines that the employer of an illegal worker should be given an immediate custodial sentence. According to the court sentencing, employers must take all practicable steps to determine whether a person is lawfully employable prior to employment. Apart from inspecting a prospective employee’s identity card, the employer has the explicit duty to make enquiries regarding the person and ensure that the answers would not cast any reasonable doubt concerning the lawful employability of the person. The court will not accept failure to do so as a defence in proceedings. It is also an offence if an employer fails to inspect the job seeker’s valid travel document if the job seeker does not have a Hong Kong permanent identity card. Offenders are liable upon conviction to a maximum fine of $150,000 and to imprisonment for one year. In that connection, the spokesman would like to remind all employers not to defy the law by employing illegal workers. The ImmD will continue to take resolute enforcement action to combat such offences.
The Government today (October 18) announced appointments made by the Chief Executive to the Board of the West Kowloon Cultural District Authority (WKCDA) for a two-year term from October 23, 2024, to October 22, … read more