Hong Kong

Crypto / Digital Assets

Hong Kong Opens Consultation on Regulatory Regime for Stablecoins

By Manesh Samtani | 28/12/2023

Hong Kong will implement a licensing regime that will require issuers of fiat-backed stablecoins that meet certain conditions to be licensed by the HKMA.

Enforcement

SFC Suspends Former Licensed Rep Over Misuse of Client Account

By Editors | 28/12/2023

The former AE carried out personal trades in a client’s securities account and allowed a third party to operate the account without the client’s written authorisation.

Fintech / Regtech

HKMA Issues Guidance on Managing Cyber Risk of Third-Parties

By Mark Johnston | 27/12/2023

Banks are asked to use scenario-based incident response strategies and regular drills to better prepare for supply chain attacks.

ESG / Sustainability

HKMA Study: Climate Change Will Dampen Housing Prices

By Editors | 26/12/2023

The study finds that global warming and severe typhoons can meaningfully lower housing prices in Hong Kong in the long run.

Crypto / Digital Assets

Hong Kong SFC to Permit Listing of Spot Crypto ETFs

By Manesh Samtani | 23/12/2023

HKEX welcomed the SFC’s move, saying it will enhance Hong Kong’s role as a leading digital asset hub across the region.

Hong Kong MPFA Calls for Action to Guard Against Fraud

By Sanday Chongo Kabange | 23/12/2023

The MPFA issued two circulars offering guidance to MPF intermediaries and MPF trustees on guarding against fraudlent activities.

Securities / Derivatives

SFC Updates Guidance to Streamline Approval Processes for Funds

By Editors | 23/12/2023

The streamlined measures will enhance the operational efficiency and approval processes of SFC-authorised funds.

Hong Kong Consults on Implementation of Global Minimum Tax

By Editors | 22/12/2023

Hong Kong intends to apply the global minimum effective tax rate of 15 percent on in-scope MNE groups starting from 2025 onwards.

Fintech / Regtech

HKMA Announces Launch Date for Bank Account Data Sharing Pilot

By Editors | 22/12/2023

The IADS pilot programme will commence on 1 January 2024 with the participation of 28 banks, covering deposit account information.