Tokenisation

SFC Issues Warning on Unregulated Virtual Asset Platforms

18/07/2021

Soon after the SFC’s statement, Binance announced that stock tokens will no longer be available for purchase on its website.

Data Privacy

China to Exempt Hong Kong IPOs from Cybersecurity Reviews

18/07/2021

Chinese officials have reportedly outlined an exemption from the requirement to undergo a cybersecurity review for companies destined for a Hong Kong IPO.

PEPs & Sanctions

US Government Warns Of Rising Business Risk in Hong Kong

18/07/2021

A business advisory from four US government agencies says US firms should be aware of the risks they face if they continue operating in Hong Kong.

Credit Risk

BOT Allows Two-month Debt Holiday Amid Fresh Lockdown

18/07/2021

Individuals and SMEs impacted by the latest Covid-19 lockdown measures can suspend principal and interest payments for two months.

Trading & Investment

HKMA Publishes Criteria for PE Funds Seeking Tax Concession

18/07/2021

A fund should have operating expenditure incurred in Hong Kong for the provision of investment management services amounting to at least HK$2mn.

KYC & CDD

NZ FMA Issues New Guidance on Electronic ID Verification

18/07/2021

A new Explanatory Note identifies electronic sources of information that reporting entities can use for identity verification.

Trading & Investment

CFTC Set to Formally Adopt of ‘SOFR First’ Initiative

18/07/2021

SOFR First has four phases, starting with the adoption of SOFR instead of LIBOR as the default rate for USD linear swaps from 26 July 2021.

Anti-Bribery & Corruption

CBIRC Sichuan Official Placed Under Corruption Probe

17/07/2021

Li Guorong, the deputy head of the Sichuan bureau of the CBIRC, is being investigated for alleged corruption.

Fraud, Scams & Cybercrime

Bangladesh Brokerage Owners Accused of Embezzlement

17/07/2021

The BSEC has initiated an inquiry into Banco Securities, which has already had its trading suspended and bank account frozen amid embezzlement allegations.