Hong Kong

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    Crypto / Digital Assets

    HKMA Opens Tender for Services to Support CBDC Sandboxes

    By Editors | 30/07/2024

    Hosting and supporting services would have to support up to 25 participants in the Project Ensemble and e-HKD sandboxes.

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    Enforcement

    Hong Kong’s IA Appoints Managers to Take Control of Tahoe Life

    By Nithya Subramanian | 29/07/2024

    This is the first time the IA has taken control of a distressed insurer, which failed to resolve “issues arising from investments linked with related party transactions”.

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    Hong Kong Reappoints HKMA Chief for Second Term

    By Nithya Subramanian | 29/07/2024

    During his second term, Eddie Yue said the HKMA will deepen connectivity with the Mainland and promote fintech and sustainable finance.

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    Sanctions

    Ukraine Calls on Hong Kong to Prevent Sanctions Evasion by Russia

    By Editors | 26/07/2024

    Hong Kong says it does not implement unilateral sanctions imposed by other countries, but does enforce sanctions imposed by UNSC.

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    Securities / Derivatives

    HKEX Facing Pushback on Corporate Governance Reform Proposals

    By Editors | 26/07/2024

    The proposed nine-year tenure limit for INEDs is “inappropriate”, according to Mike Wong, chief executive of the Chamber of Hong Kong Listed Companies.

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    Capital / Liquidity

    HKMA Consult on Revised Guidance for CCyB Calculations

    By Editors | 25/07/2024

    The SPM module being revised provides guidance for banks on determining the RWA corresponding to their private sector credit exposures for the purpose of calculating CCyB ratios.

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    Fintech / Regtech

    HKMA Publishes RegTech Bulletin on Best Execution Services

    By Manesh Samtani | 24/07/2024

    The bulletin says best execution services can be particularly helpful for exotic instruments, which often don’t have sufficient pricing information.

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    Market Infrastructure

    HKIFA Proposes Enhancements for ETF Connect Initiative

    By Sanday Chongo Kabange | 24/07/2024

    HKIFA says Stock Connect ETF eligibility requirements should be further relaxed and Hong Kong issuers should be allowed to market in the mainland.

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    Sanctions

    Hong Kong Has Become a Sanctions Evasion Hub: Report

    By Manesh Samtani | 24/07/2024

    New report says Hong Kong has emerged as a “global centre for illicit finance and trade” and the city’s banks should be sanctioned.

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    Enforcement

    Hong Kong Court Jails Three in Landmark Manipulation Case

    By Sanday Chongo Kabange | 23/07/2024

    The jail sentences are the heaviest and longest imposed for market manipulation since the SFO came into effect in 2003.

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