Hong Kong

Combating social media ramp-and-dump schemes remains one of the top enforcement priorities of the SFC, says executive director of enforcement, Christopher Wilson.

HashKey has full approval to operate a crypto trading platform in Hong Kong and in-principle approval to offer fund management services in Singapore.

CEO Bill Winters said Standard Chartered Bank will consider offering crypto trading services to Hong Kong retail customers.

Internal control failures were identified after a client complained that discretionary options trades fell outside the scope of the mandate.

The PAPT is being introduced to address risks that could arise for residential mortgage customers if a law firm handling a transaction is suspended.

Stock Connect will be able to trade on any day when both the Mainland and Hong Kong markets are open, even if the corresponding settlement day falls on a public holiday.

Macau already has a local RTGS system for local payments denominated in HKD. The new system enables real-time settlement of HKD payments between Macau and Hong Kong banks.

A new LegCo bill will require MNE entities in Hong Kong to pay profits tax on foreign equity disposals and dividend income, unless they are specifically exempted.

The enhancements will result in a simpler and more predictable cash market trading fee structure, HKEX said. 

ETFs with crypto exposure through CME-listed BTC and ETH futures can be distributed to Hong Kong retail clients. The “professional investor only” requirement is under review.