Hong Kong

Capital / Liquidity

HKMA Consults on Guidance for Revised Credit Risk Framework

By Editors | 25/04/2024

The guidance seeks to address interpretative issues raised in previous consultations on the implementation of the revised credit risk framework in Hong Kong.

Crypto / Digital Assets

Hong Kong Spot Crypto ETFs to Start Trading Next Week

By Sanday Chongo Kabange | 25/04/2024

Spot Bitcoin and Ether ETFs issued by ChinaAMC, Harvest Global Investments and Bosera Asset Management will start trading by 30 April.

Securities / Derivatives

HKEX Selects Ex-SFC Chair Carlson Tong as New Chair

By Sanday Chongo Kabange | 25/04/2024

Carlson Tong will take over from Laura Cha as the new HKEX chair for a three-year term until 2025.

Crypto / Digital Assets

HK Customs Busts $230m Crypto Money Laundering Scheme

By Mark Johnston | 23/04/2024

Three suspects were arrested for orchestrating over 1,000 dubious transactions through 18 bank accounts linked to shell companies.

Fintech / Regtech

Hong Kong Launches New ‘One-Stop’ Platform for SMEs

By Sanday Chongo Kabange | 23/04/2024

The new ‘one-stop SME platform’ enables SMEs to “shop around” for lending services offered by the major banks.

Enforcement

HK Police Offers Update on JPEX Fraud Investigation

By Mark Johnston | 23/04/2024

A total 72 individuals have been arrested and HKD 228 million worth of assets have been seized in connection with JPEX.

ESG / Sustainability

HKEX Adopts Phased Approach to New Climate Disclosure Rules

By Manesh Samtani | 23/04/2024

All listed issuers will have to mandatorily disclose scope 1 and scope 2 emissions from 1 Jan 2025. Requirements drawn from the ISSB standards will be mandatory for large caps from 1 Jan 2026.

AML / KYC

HKMA Proposes Revisions to E-banking Risk Management Requirements

By Manesh Samtani | 22/04/2024

HKMA’s revised SPM Module incorporates additional requirements on electronic banking security and expands the obligations to payment card transactions.

Enforcement

HKMA Fines Hua Nan Commercial Bank Over AML/CFT Controls

By Editors | 22/04/2024

HKMA identified deficiencies in the bank’s ability to continuously monitor some customer relationships over a six-year period.