Hong Kong

Enforcement

HK Court Jails Retail Trader for Fraud Involving Naked Short Selling

By Sanday Chongo Kabange | 21/03/2024

In the first case of securities fraud involving illegal short selling in Hong Kong, a retail trader was sentenced to 18 months imprisonment.

Crypto / Digital Assets

Hong Kong: Prototype Created to Issue Electronic Bills of Lading

By Manesh Samtani | 21/03/2024

The eBL prototype, developed by GSBN and Ant Group,  is being used in the HKMA’s wholesale CBDC sandbox project.

Hong Kong LegCo Passes New National Security Law

By Editors | 20/03/2024

Lawmakers say the law was necessary to protect Hong Kong’s status as an international hub. Critics express concern that it could be used to erode civil liberties.

Securities / Derivatives

HKEX: Self-Match Prevention Service for Securities Set for Launch

By Sanday Chongo Kabange | 20/03/2024

From 2 April, HKEX’s new SMP service for the securities market will open for applications by exchange participants.

Hong Kong’s New eMPF Platform to Launch in June

By Sanday Chongo Kabange | 20/03/2024

The MPFA says all 12 MPF trustees in Hong Kong will start migrating data to the new eMPF platform in phases starting from June this year.

AML / KYC

SFC Issues Fresh Warning Against Unlicensed Crypto Firm MEXC

By Sanday Chongo Kabange | 18/03/2024

This is the second warning the SFC has issued against MEXC. Regulators in Korea, Japan, India and Germany have also warned against MEXC.

Capital / Liquidity

HKMA Finalises Rules on Market Risk, CVA Risk Capital

By Editors | 18/03/2024

The HKMA said the revised market risk and CVA risk capital frameworks will come into effect “on a day to be appointed”, but intended to be 1 January 2025.

Enforcement

Hong Kong ICAC Charges CCB Banker for Taking Bribes

By Sanday Chongo Kabange | 17/03/2024

A former CCB Asia sales executive was charged for taking bribes to expedite the account opening process for six clients.

Capital / Liquidity

SME Finance Guarantee Scheme Was a Success: HKMA Study

By Manesh Samtani | 15/03/2024

The study used granular corporate loan data and a deep neural network model to analyse the effectiveness of the SFGS in facilitating access to credit for SMEs.