Hong Kong

HKEX says the merger is still strategically compelling but it has not been able to engage with LSEG's management in realising its vision.

The SFC has published new requirements for virtual asset fund managers, relating to capital, best execution, liquidity and custody, among other areas.

The SFC has reprimanded and fined SEAVI Advent Ocean Private Equity for allowing unlicensed individuals to perform regulated functions, in breach of the Code of Conduct.

Incoming HKMA chief Eddie Yue vowed to defend Hong Kong's currency peg, promote market development opportunities, and foster a better ecosystem for fintech, regtech and suptech.

The new standard will re-use ISO 20022 components to ensure interoperability with Hong Kong's clearing and settlement systems, facilitating the next phases of open banking in the city.

S&P Global Ratings says Hong Kong’s approach to open banking makes it hard for third-party service providers to participate, limiting the potential of the new digital ecosystem.

New FAQs make clear that deviations from the new rules after 4 October will not automatically be seen as noncompliance or result in disciplinary action.

Fund trustees and custodians in Hong Kong are not subject to any licensing regime or ongoing supervision. The SFC proposes to regulate them under a new type of regulated activity, RA 13.

From 4 October, margin loans will be capped at five times capital, despite appeals from brokerage firms to postpone the new rules by one year.

Banks may not sell investment, insurance and MPF products in areas that are used for deposit-taking activities, and the face-to-face sales process must be audio-recorded.