Hong Kong

Two people were arrested for using personal bank accounts to receive payments from the sale of counterfeit goods and launder money.

Dechert partner Michael Wong looks at the potential impact of Hong Kong’s newly proposed licensing regime for virtual asset service providers.

The government proposal to stop requiring companies to reveal certain information about directors will hinder fund managers’ ability to conduct due diligence.

The guidance is aimed at facilitating consistent interpretation and application of the capital requirements under the BCR as amended in April.

HKEX has asked market participants to prepare their systems in preparation for the 1 August stamp duty increase.

The SFC says vaccinations are a critical part of operational risk management. The HKMA is requiring banks to submit a list of unvaccinated staff.

The ETF cross-listing mechanism provides Chinese investors another avenue to access the Hong Kong market besides Stock Connect.

Non-bank institutions such as finance companies and property developers have managed to circumvent the HKMA’s mortgage lending limits.

Trading tariffs and stock settlement fees have been waived for 29 fixed income and money market ETF trading counters.

Senior executives of licensed financial corporations or their overseas affiliates who are fully vaccinated, and meet the eligibility criteria, may apply for the exemption.