Hong Kong

Standards associated with credit risk, operational risk, the output floor, and the leverage ratio will implemented no earlier than 1 January 2024.

The AFRC can subject auditors who commit misconduct to penalties up to HKD 10 million, or three times profit gained, whichever is higher.

Authorised brokers will deal in securities on HKSCC’s behalf. Up to 10 participants will be appointed and expected to start providing services tentatively in Q3 2023.

The suspects allegedly used different social media platforms to manipulate the trading in the shares of two Hong Kong-listed companies.

A market-maker system will be established to facilitate yuan-denominated stock trading. Stamp duty will be waived for market makers providing liquidity for yuan shares.

The HKMA plans to run a network analytics-themed AMLab again later this year to give more banks an opportunity to take part.

The hedge fund manager used non-public information from a market sounding call to trade short swaps on a KRX-listed stock.

The paper considers how SLDs would be classified and regulated, and the compliance issues for market participants to consider when executing SLDs.

Following consultation, the HKMA plans to submit revisions to the disclosure requirements in early 2023, ahead of Basel III implementation on 1 July 2023.

Financial Secretary Paul Chan said this week that "bold reforms" are in the pipeline to attract talent and enterprises to the city.