Hong Kong

AML / KYC

HK Banks Extend Fraud Alerting Service to Counter Transactions

By Editors | 02/08/2024

HKMA said customers will receive fraud risk alerts regardless of whether a transfer is conducted at a branch or through online channels.

Sanctions

OFAC Sanctions More Houthi Procurement Facilitators

By Editors | 02/08/2024

The sanctions target “key actors” located in China, Hong Kong, and Yemen who have “directly supported” the Houthis’ weapons procurement efforts.

ESG / Sustainability

Gold Standard Carbon Credits Debut on HKEX Carbon Marketplace

By Editors | 02/08/2024

Gold Standard’s Verified Emission Reductions can now be traded on the Core Climate platform. Trading fees are waived until further notice

Market Infrastructure

Hong Kong IA to Start Charging Fees from September

By Sanday Chongo Kabange | 02/08/2024

The Insurance Authority has not charged licensing and related fees since it assumed supervisory responsibilities in 2019.

Market Infrastructure

HKMA Sets Expectations for CRA’s Exit from ‘Credit Data Smart’

By Sanday Chongo Kabange | 01/08/2024

Credit reference agency Nova Credit Limited has decided to cease operations and exit the new credit reference platform known as Credit Data Smart.

Crypto / Digital Assets

US Lawmaker Proposes to Create Strategic Bitcoin Reserve

By Editors | 31/07/2024

A Hong Kong lawmaker said including Bitcoin in the city’s strategic financial reserves is something that should be considered.

Securities / Derivatives

HKFE to Standardise Automatic Strike Listing Rules for Options

By Editors | 31/07/2024

Rule change will enable automatic strike listing based on daily underlying price movements all the way through to expiry for monthly option contracts.

Sanctions

OFAC Targets Iran Weapons Programmes With New Sanctions

By Editors | 31/07/2024

The sanctions cover two procurement networks that help Iran obtain components for weapons systems, including Hong Kong and China-based targets.

Enforcement

Ex-CITIC Banker Ordered to Disgorge Insider Dealing Profits

By Sanday Chongo Kabange | 31/07/2024

Hong Kong’s Market Misconduct Tribunal also banned the former executive deputy general manager from certain activities for three years.