Approximately HKD 180,000 was stolen from customers just three weeks after the launch of a service allowing automatic top-ups of e-wallets by direct debit from bank accounts.
Financial services offered in either a test or real environment should be governed by the same legal framework, says HKEX in a new report.
Authorised institutions should review and strengthen stress testing frameworks and practices taking account of BCBS' stress testing principles, the HKMA says.
FSB-aligned total loss-absorbing capacity rules will be presented to the LegCo on 24 October and will go into effect on 14 December.
The updates to the FRR include changes on the treatment of foreign currencies, haircuts for some securities and refinements on securities transaction receivables.
The Qianhai Mercantile Exchange, controlled by HKEX, unexpectedly began spot trading in alumina on Friday, according to a Reuters report.
The Guidelines are set to take effect from 1 November for authorised institutions and stored value facilities. The HKMA has also published its policy and supervisory approach.
The SFC does not think a total ban on crypto platforms is the right approach and is exploring formal rules for existing operators, outgoing chairman Carlson Tong told SCMP.
A July consultation proposed amendments to improve the Guideline's usefulness and relevance and ensure its alignment with international AML/CFT standards.
Life is about to get very uncomfortable for those who abuse Hong Kong's capital markets, said the SFC's Thomas Atkinson at the 2018 Refinitiv Pan Asian Regulatory Summit.
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