Hong Kong

Securities / Derivatives

HKEX to Accelerate Changes to Executive Leadership

By Editors | 10/02/2024

Current CEO will step down earlier than planned. Co-COO Bonnie Chan will start as CEO on 1 March 2024 instead of 24 May 2024.

Fintech / Regtech

Operational Procedures Updated for GBA Fintech Facility

By Sanday Chongo Kabange | 09/02/2024

The HKMA, PBOC and AMCM updated their operational procedures to reflect Macau’s participation in the facility.

AML / KYC

HKMA Directs Banks to Ensure Their CDD is “Risk-based”

By Manesh Samtani | 09/02/2024

Asking customers to provide details or proof of salary, employment or investments dating back years is “not consistent” with the risk-based approach.

Crypto / Digital Assets

UBS Launches Hong Kong’s First Tokenised Warrant

By Sanday Chongo Kabange | 09/02/2024

UBS said tokenisation opens a new channel for investors to access digital structured products.

Crypto / Digital Assets

Hong Kong Proposes Regulatory Framework for OTC Crypto Venues

By Manesh Samtani | 09/02/2024

Firms providing “spot trade of any virtual assets for money” such as physical shops and ATMs would have to be licensed by the Commissioner of Customs and Excise.

Crypto / Digital Assets

HK Breaks New Ground With Digital Green Bond Issuance

By Editors | 08/02/2024

This is the first multi-currency digital bond offering in the world, and the first digitally native bond issuance in Hong Kong.

Capital / Liquidity

HKMA Consults on Capital Treatment of Cryptoasset Exposures

By Manesh Samtani | 07/02/2024

The proposals are based on the Basel standards, applying a 1,250% risk weight to so-called Group 2b cryptoassets.

Enforcement

SFC Bans Two Licensed Reps Over Bribery Convictions

By Sanday Chongo Kabange | 07/02/2024

The SFC barred two former representatives of Nerico Brothers, considering them “not fit and proper” to be licensed.

Capital / Liquidity

Hong Kong to Raise Bank Deposit Protection Limit in Q4

By Manesh Samtani | 07/02/2024

Hong Kong’s deposit protection limit will be raised from HKD 500,000 to HKD 800,000, the first increase in 13 years.