Hong Kong

AML / KYC

HKMA Announces Enhancements to Anti-Fraud Initiatives

By Manesh Samtani | 15/10/2023

FMLIT expanded to include more AIs; FINEST to cover more banks; FPS to gain pre-transaction alert mechanism.

Enforcement

Hong Kong: ICAC Arrests 20 for MPF Withdrawal Fraud

By Mark Johnston | 14/10/2023

The ICAC arrested 20 people, including an insurance agent, for allegedly using forged documents to withdraw MPF balances early.

Big Picture

REITs Connectivity Will Boost Mainland and Hong Kong: HKEX

By Sanday Chongo Kabange | 13/10/2023

Expanding market connectivity to include REITs will increase Hong Kong’s attractiveness and promote the internationalisation of the Mainland capital market.

AML / KYC

HK ICAC Hosts First Belt & Road Anti-Corruption Training

By Sanday Chongo Kabange | 13/10/2023

The ICAC said it is contributing to building a “Clean Silk Road” by providing anti-corruption training to Belt and Road countries.

Enforcement

SFC Bans Investment Banker for Seven Years for Sponsor Failures

By Editors | 12/10/2023

The SFC said there was a need to send a “strong deterrent message” that failures of sponsors and sponsor principals will not be tolerated.

Securities / Derivatives

SFC Proposes New Guidelines for Market Soundings

By Manesh Samtani | 12/10/2023

The proposed guidelines introduce a common set of “Core Principles” for market soundings to prevent misuse of non-public information.

Capital / Liquidity

HK Wealth Firms See Regulatory Environment Improving

By Manesh Samtani | 09/10/2023

More than 80% of PWMA member firms surveyed expect the new framework for sophisticated professional investors to bring a positive impact.

Crypto / Digital Assets

China Establishes CBDC Connectivity with Hong Kong FPS

By Editors | 07/10/2023

Members of the Hong Kong delegation at the Asian Games in Hangzhou are able to download the e-CNY mobile app and recharge their accounts via FPS.

Crypto / Digital Assets

SFC, HKPF Form Dedicated Working Group on VATPs

By Sanday Chongo Kabange | 05/10/2023

The working group will facilitate information sharing and collaboration on monitoring and investigations involving crypto platforms.