Hong Kong

Crypto / Digital Assets

HKMA, BDF To Collaborate on Cross-border CBDC Experiments

By Sanday Chongo Kabange | 28/06/2024

The HKMA and BDF will collaborate on cross-border transfers and settlement of tokenised assets.

HKMA, IA Identify Issues With Premium Financing Practices

By Editors | 27/06/2024

A joint inspection exercise was conducted to assess compliance with new standards for premium financing that were implemented on 1 January 2023

Enforcement

SFC Bars Former Securities Exec Over Secret Trading Account

By Sanday Chongo Kabange | 27/06/2024

The former chief operations officer of DA International Financial Service violated the company’s employee dealing policy.

Market Infrastructure

Hong Kong Launches New eMPF Platform

By Sanday Chongo Kabange | 27/06/2024

YF Life is the first MPF trustee to move to the new eMPF platform. The migration of all 12 trustees is set to be completed by the end of next year.

Crypto / Digital Assets

HK LegCo Forms New Sub-committee on Web3 and Virtual Asset Growth

By Sanday Chongo Kabange | 27/06/2024

The newly-formed committee will focus on developing regulatory frameworks, improvement of technology and investor safeguards.

Big Picture

HKIFA, KPMG Call for Further Enhancement of Cross-Border Schemes

By Sanday Chongo Kabange | 26/06/2024

The report said that strengthening cross-border schemes and tax incentives would boost the asset management industry.

Crypto / Digital Assets

Hong Kong FIs Keen on DeFi and Metaverse: AoF Reports

By Sanday Chongo Kabange | 26/06/2024

HKMA said FIs are interested in exploring opportunities brought by DeFi and metaverse as they expand involvement in virtual assets.

Hong Kong Revises Banking Code of Practice for Marketing Calls

By Sanday Chongo Kabange | 25/06/2024

The code sets out limits on the frequency of person-to-person marketing and confines the hours of making such calls, among other revisions.

AML / KYC

HKMA Issues Guidance for Banks on Handling ‘Bogus’ Calls

By Sanday Chongo Kabange | 25/06/2024

The HKMA has directed banks to review and step up measures to protect consumers from “bogus” telephone calls purporting to be from banks.